Independence Day was a rollercoaster of emotions for the Knicks: for the better part of the day, rumors ran rampant that the team was on the verge of a sign-and-trade for star guard Steve Nash. But by the time the fireworks were going off, Nash had agreed to share his prodigious passing abilities with Kobe Bryant and the Lakers, leaving the Knicks in a very lurchy lurch, as the Times put it.

To make matter worse, the Houston Rockets have offered Jeremy Lin a $31 million, four-year deal. All the heroic Mike Bibby three-pointers in the world aren't gonna make this offseason any easier for the Knicks.

The Knicks have long said they would match any offer given to Lin. But the contract the Rockets offered him is called a "poison pill" deal for a reason: Lin would get $5 million and $5.2 million his first two years, and then a backloaded salary of $10.5 million in years three and four, as a way to create luxury-tax hardship for the Knicks. Now that Nash is gone—and Jason Kidd looks increasingly likely to stay in Dallas—it seems like this will have to be a no-brainer for the Knicks.

And the team has another deal in the works it seems to take some pressure off of Lin: according to the Daily News and Post, the Knicks are now actively trying to bring back Raymond Felton, who was traded to Denver in that blockbuster, gut-the-team deal for Carmelo Anthony in 2011. Felton flourished offensively in NY under Mike D'Antoni, but has been underwhelming since. This is a good start, though we're not sure if Felton will be able to fill the Landry Fields/Jeremy Lin BFF handshake-sized hole in our hearts.