Rockets Sign Patrick Beverley

MONDAY, 12:25pm: Beverley's contract has been finalized and he's practicing with the team today, tweets Jonathan Feigen of the Houston Chronicle.

FRIDAY, 10:22am: Back in December, and the Houston Chronicle reported that point guard Patrick Beverley would sign with the Rockets. While Houston still hasn't officially added Beverley to its roster, the 24-year-old has signed a three-year contract with the team, according to Jonathan Feigen of the Houston Chronicle (via Twitter).

Nikos Varlas of notes that the Russian basketball federation has to send Beverley's letter of clearance to Houston, which is only a formality. When that happens, the Rockets will be able to finalize the signing, and will have to release a player from their 15-man roster.

As Chuck Myron of Hoops Rumors observed last month and as Feigen hints (via Twitter), Scott Machado seems like the logical candidate to be cut, since he plays the same position as Beverley and only has a partial guarantee on his contract. Houston has until Monday to release Machado and avoid paying him a full-season's salary.

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