Point guard Jeremy Lin announced he will be wearing the teal and purple colors of the Charlotte on a two-year, $4.3 million biannual exception deal.

It is a far cry from his previous contract he signed with the Houston Rockets worth $30 million over four years  

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Lin committed to the Hornets while the Dallas Mavericks, who have been optimistic on signing him, were dealing with DeAndre Jordan's decision to renege on his verbal commitment to them.

The Mavericks had been transacting to create a salary slot for Lin by shopping point guard Raymond Felton.

Lin said that going into free agency, what mattered most to him is finding a team where he could be a good fit.

The 26-year-old Lin had a frustrating stint last season with the Los Angeles Lakers, where he started 30 times in 74 games to average 11.2 points per game--his lowest since his rookie season.

He shot 42.4 percent from the field and 36.9 percent from 3-point range.

Lin also had to endure criticism from coach Byron Scott and Lakers superstar Kobe Bryant.

His 42 percent shooting from the field last season was also his lowest since his rookie year.

Since his break out season in 2011-12 with the New York Knicks, Jeremy Lin's scoring average has dipped every season. 

The Harvard graduate started his NBA career with the Golden State Warriors in 2010-11 before his Knicks days. He then joined the Houston Rockets in 2012-13 and eventually got traded to the Lakers following the 2013-14 season.

In Charlotte, Lin will replace Mo Williams on the roster and is expected to back up point guard Kemba Walker. He could address Hornets' need in improving outside shooting and adding depth at the point guard.

Lin joins small forward Nicolas Batum from the Portland Trail Blazers, shooting guard Jeremy Lamb from Oklahoma City Thunder, 7-1 forward center Spencer Hawes from the Los Angeles Clippers and 9th overall pick, 7-0 center Frank Kaminsky from the University of Wisconsin among the new Hornets recruits.

The Hornets are also looking to sign undrafted rookie guard Aaron Harrison, who drew praises during the summer league in Orlando, Florida.

TagsJeremy Lin, Charlotte Hornets, NBA Free Agency, NBA signings, Los Angeles Lakers, Harvard graduate, Golden State Warriors