The Sacramento Kings will ship Jason Terry to the Houston Rockets. The deal was first reported by Yahoo Sports’ Adrian Wojnarowski.
In exchange for Terry, Houston will ship Alonzo Gee and send two second-round picks in the deal, including one via the Knicks a package of non-guaranteed contracts.
According to Wojnarowski, the trade could take some time to officially complete, based on restrictions of contracts in the deal. On paper, the deal works well for both sides. The Sacramento Kings were looking to move Terry’s expiring $5.4 million contract—attractive to Houston who were looking for a veteran presence for a deep playoff run. The Kings, in turn can waive the rights to players involved in the deal to gather additional salary cap space.