FRIDAY, 12:19pm: The Rockets and Sixers are currently in talks about a Lin deal, but no agreement has been reached, a source tells Bob Cooney of the Philadelphia Daily News (Twitter link).
WEDNESDAY, 11:55pm: The Rockets have a deal in place to send Jeremy Lin to the Sixers if Houston is able to sign Chris Bosh, league sources tell Mitch Lawrence of New York Daily News. The trade would give the Rockets needed cap flexibility in their attempt to make room for Bosh.
The Sixers were reportedly open to such a trade, but wanted to receive a first rounder from Houston as part of the agreement. Lawrence doesn’t report the specifics of compensation, but it seems likely Philadelphia’s demand has been met. That’s speculation on my part, since the Sixers would appear to have more leverage considering the Rockets are being squeezed into a three-day window to have any chance of securing Bosh alongside Chandler Parsons, who agreed to sign a max offer sheet with Dallas that Houston will have 72 hours to match or decline.
The move would work in conjunction with Houston’s pending agreement to send Omer Asik to the Pelicans, which still depends upon New Orleans’ ability to clear salary before taking back the big man’s contract. Lin and Asik have identical contracts that include a balloon payment exceeding the cap hit in the final year, which is the approaching 2014/15 season.