As per Marc Berman at the New York Post, the NBA Players Association is entering arbitration negotiations with the NBA on the matter of "The Linsanity Rule."

http://www.nypost.com/p/sports/knicks/union_suit_may_help_knicks_lin_bid_iaaLEsnqhFQtyhOSIgjqZM

Basically if a team can have Bird rights to a player they got ahold of via Waiver vs Trade.

Essentially under Bird rights, a team can go above their salary cap to retain their own player. When a player is traded those Bird rights get traded with the player.

So if Lin was traded to us, we could use the Bird right to pay above our salary cap to retain him for next year.

But we got Lin via a Waiver, not a trade. Same goes for Novak as well.

So if the NBAPA wins the arbitration and gets the legal ruling that players acquired via Waiver should also have the same Bird rights as a player that's been traded, that means the Knicks can use Bird rights to pay over their salary cap to retain Lin and Novak...WITHOUT TOUCHING THEIR MID-LEVEL EXCEPTION.

This means that we can use the mid-level to woo Nash, or Dragon, or any other player we can get with 5 Million!

This is being dubbed the "The Linsanity Rule" by the press ala New York Post, but the question then becomes...

If we get Lin & Novak, then who do we want to get with our mid-level exception????

Suggestions please! :)