The Rockets have acquired 24-year old shooting guard Courtney Lee from the Nets and they have sent 25-year old SG/SF Trevor Ariza to the Hornets as part of a 4-team, 5 player trade. The Pacers have acquired point guard Darren Collison and small forward James Posey from the Hornets in this deal and the Nets have acquired power forward Troy Murphy from the Pacers to finish up this deal. So the Rockets have essentially acquired Lee for Ariza. Lee played in 71 games (66 starts) for the Nets last season and he averaged 33.5 minutes, 12.5 points, 3.5 rebounds, 1.7 assists and 1.3 steals per game. He has now played in 148 games (108 starts) in his two years in the NBA and he has averaged 29.1 minutes, 10.3 points, 2.9 rebounds, 1.4 assists and 1.1 steals per game. Lee will probably swing between shooting guard and small forward for the Rockets. Trevor Ariza played in 72 games (71 starts) in his 1 year with the Rockets and he averaged 36.5 minutes, 14.9 points, 5.6 rebounds, 3.8 assists and 1.8 steals per game. He only shot 39.4% from the floor and Lee will certainly shoot better than that in 2010-11. I like this deal for the Rockets as Lee is cheaper than Ariza and just as good as him if not better.

The Rockets have signed 34-year old center Brad Miller to a 3-year, $15 million dollar deal. Miller played in 82 games (37 starts) for the Bulls last season and he averaged 23.8 minutes, 8.8 points, 4.9 rebounds and 1.9 assists per game. He has now played in 793 games (592 starts) in his 12 years in the NBA and he has averaged 29.5 minutes, 11.7 points, 7.5 rebounds and 2.9 assists per game. This was a outstanding signing for the Rockets as Miller gives them a great insurance policy against Yao Ming’s foot. This also allows the Rockets to rest Yao more as Miller is a pretty darn good center himself.

The Cleveland Cavaliers have signed 24-year old point guard Kyle Lowry to a 4-year, $24 million dollar offer sheet. Lowry played in 68 games (0 starts) for the Rockets last season and he averaged 24.3 minutes, 9.1 points, 3.6 rebounds and 4.5 assists per game. He has played in 96 games (0 starts) in his two years with the Rockets and he has averaged 23.5 minutes, 8.7 points, 3.4 rebounds and 4.2 assists per game. It will be interesting to see if the Rockets are willing to pony up the kind of cash the Cavs are offering for a guy who will be a backup for them.

UPDATE: (7/15/2010) - The Rockets didn’t take too long to think about it as they have matched the Cavaliers offer to Lowry.

28-year old forward Jared Jeffries has opted in for the 2010-11 season to stay with the Rockets for $6.9 million bucks. Jeffries played in 18 games (0 starts) for the Rockets last season and he averaged 18.4 minutes, 4.9 points, 3.6 rebounds and 1.0 assist per game. He played in 70 games (37 starts) overall last season for the Knicks and Rockets in which he averaged 25.6 minutes, 5.3 points, 4.1 rebounds and 1.4 assists per game. He has now played in 510 games (322 starts) in his NBA career and he has averaged 23.3 minutes, 5.3 points, 4.4 rebounds and 1.4 assists per game. Jeffries is what he is. A solid defensive player who doesn’t help much offensively.

The Rockets have signed 27-year old forward Alexander Johnson to give them another big body on the bench for the last couple of games. Johnson last played in the NBA during the 2007-08 season with the Heat. He has played in 102 games (25 starts) in his NBA career and he has averaged 4.3 points, 2.7 rebounds and 0.3 assists per game on 51.7% shooting from the floor. Don’t look for him to get big minutes as the Rockets play out the season.