The Houston Rockets continued what has bee an off-season of major changes Thursday, trading rugged point guard Kyle Lowry to the Toronto Raptors for Gary Forbes and a first round draft pick. The Rockets then agreed to terms on a four-year, $29 million offer sheet for Knicks restricted free agent Jeremy Lin, a deal the Knicks will likely match.
Last week the Rockets made waves by trading away key reserve Chase Budinger and Samuel Dalembert for draft picks, then using those picks to select guard/forward Jeremy Lamb and forwards Royce White and Terrence Jones. Houston also lost free agent point guard Goran Dragic to the Suns.
Trading Lowry all but signifies a rebuilding era for the Rockets, who missed the playoffs by only two games in 2011-2012. There has also been rumors of the Rockets willingness to unload the contracts of high scoring guard Kevin Martin ($12.9 million) and forward Luis Scola (3 years, $30.7 mil). If Houston can deal Martin and Scola, they will have shed over $60 million in salary over the next three seasons.
Kyle Lowry averaged 14.3 ppg, 6.7 apg and 4.6 rpg in 47 games last season for the Rockets. He was acquired by Houston in 2009 from the Grizzlies. For his career Lowry has averaged 10.4 ppg and 4.8 apg in six seasons.