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Jeremy Lin has joined the Charlotte Hornets, announcing his decision in an Instagram post Wednesday, with the team later confirming it Thursday.
"We are excited to add Jeremy Lin to our lineup," Charlotte general manager Rich Cho said. "He is a talented player who we feel can make significant contributions to our basketball team."
A source confirmed to ESPN.com that the contract is for Charlotte's biannual exception -- two years and $4.3 million.
Lin posted the Hornets logo on his Instagram account to announce the agreement.
The Dallas Mavericks had been optimistic they would sign Lin, attempting to create a salary slot for him by shopping point guard Raymond Felton, sources said. Lin made his commitment to the Hornets while the Mavs were in the midst of dealing with prized center DeAndre Jordan's decision to renege on his verbal commitment to Dallas and return to the Los Angeles Clippers.
Lin was an unrestricted free agent after making nearly $15 million last season with the Los Angeles Lakers. He bounced in and out of coach Byron Scott's starting lineup and endured criticism from Scott and Lakers icon Kobe Bryant.
Lin acknowledges he got off to a rough start but eventually grew more comfortable in Scott's system.
In 74 games, including 30 starts, Lin averaged 11.2 points, his lowest total since his rookie season, on 42 percent shooting from the field, also his lowest since his rookie season. He started the team's first 19 games before being moved to the bench.
"The one thing about him: The kid takes criticism," Scott said. "You can jump on him about things, and he takes it with a grain of salt and he tries to get better. That's the one thing I do love about him. He doesn't pout about it. He doesn't cry. He just goes out there and tries to implement the things that you give him and become a better basketball player."
The Lakers were the fourth NBA team in five seasons for Lin, who gained international fame during a dynamic 35-game stint with the New York Knicks in 2012.
The former Harvard standout began his NBA career with the Golden State Warriors in 2010-11, appearing in 29 games, before moving on the Knicks. He joined the Houston Rockets via restricted free agency in 2012-13 before getting traded to the Lakers following the 2013-14 season.