The Knicks have officially tendered qualifying offers to Jeremy Lin and Landry Fields, making them restricted free agents, tweets Al Iannazzone of Newsday. The move allows the Knicks the opportunity to match any offer either player receives this summer.
Despite being a second-round pick, Fields met the CBA's starter criteria in 2011/12, meaning he'll be eligible for a qualifying offer of about $2.7MM, as I explained here. Lin's season-ending injury prevented him from meeting the same criteria, so his one-year offer will only be worth about $1.05MM.
If the NBPA's victory in the Bird Rights ruling stands, the Knicks will have the cap flexibility to retain both players using their Early Bird rights. However, should the league win its appeal of the decision, there's a chance New York will have to use its mid-level exception to retain Lin — Fields will still have his Early Bird rights.