The initial onslaught of activity from the start of the NBA free agency signing period has cooled off a bit from last week’s feverish pace, but there is still quite a bit of action off the court in the first full month of this year’s offseason.

Linsanity looks like it is headed to Houston

Guard Jeremy Lin, who created one of the biggest stirs in the world of professional sports in recent memory with his sudden meteoric rise to fame with the New York Knicks last season, appears to be Jeremy Linheaded to Houston for Chapter Two of this most unlikely story. The fanfare surrounding Lin has long since died down, but the Knicks gave every indication they would match the Rockets’ offer for the restricted free agent. However, a funny thing happened on the way to the bank. Houston’s three-year deal for Lin included a $15 million payday in the final year that would have triggered a huge luxury tax hit for New York if it indeed did match this offer.

The Knicks instead decided to bring back veteran guard Raymond Felton in a sign-and-trade deal with Portland, giving all indication that they are okay with the idea of losing Lin. Felton comes at a much cheaper price tag and joins another long-time veteran guard Jason Kidd, who was added as a free agent earlier this month to New York’s current roster. The Knicks will have three days to match the Rockets’ offer once it officially receives the sheet, but right now it appears that Lin will be taking his talents to the bright lights of Houston, Texas next season.

Cleveland’s Irving expected to be out two months with a broken hand

Kyrie Irving, who was coming off a phenomenal year as a rookie for the Cleveland Cavaliers, will be out of action for upwards of two months after breaking his right hand while slapping a padded wall in practice. The reining NBA ‘Rookie of the Year’ was set to join the Cavaliers’ No.1 draft pick Dion Waiters, from Syracuse, to form a potent one-two punch in Cleveland’s back court. That plan will now have to be put on hold for awhile while Irving recovers.

He will be examined by doctors early this week, but the general consensus is that the talented, but injury-prone guard will not be back until the start of training camp in late September. Irving only played in 11 games his freshman season at Duke and missed 14 games last season as a rookie after battling through various injuries.

Biggest offseason surprise so far

A recent ESPN poll asked its readers to rate what has been the biggest surprise of the first few weeks of this NBA offseason. The highest response, garnering 46 percent of the vote was veteran guard Steve Nash’s decision to leave Phoenix and sign a deal with his long-time rivals the Los Angeles Lakers. Many believe that this move is a key piece of the puzzle to making LA a legitimate contender to unseat Miami from its current throne. The Heat are the current odds-on-favorites at 2/1 to win back-to-back NBA World titles, but the Lakers have moved up to third-favorites at 6/1 as a result of adding Nash.

The second biggest surprise with 33 percent of the vote was Ray Allen’s decision to leave Boston and sign a deal with the Heat. The fact that Dwight Howard is still a member of the Orlando Magic comes in third with 12 percent of the vote and Atlanta’s decision to part ways with Joe Johnson, by trading him to Brooklyn, was fourth with nine percent of the vote.