Lakers Acquire Jeremy Lin

SUNDAY, 12:22pm: The trade is now official the Lakers have announced via their website. Los Angeles will receive Lin, plus Houston’s first-round pick in 2015, and the 2015 second-round pick that the Rockets had acquired from the Clippers. The Rockets in turn receive the rights to Sergei Lishchuk.

FRIDAY, 1:59pm: The Rockets and Lakers have reached agreement on a deal that sends Jeremy Lin to the Lakers, reports Jeff Goodman of (Twitter link). Adrian Wojnarowski of Yahoo! Sports reported earlier that the teams were finalizing such a deal, while Marc Stein of broke the story about the talks. A future first-round pick is also headed to the Lakers, Goodman confirms, while Wojnarowski’s previous reporting indicated other draft considerations will go from Houston to the Lakers, too. The Lakers will send out cash and the rights to a draft-and-stash prospect who’s playing overseas, Wojnarowski also reported, but no salary will go Houston’s way, helping clear room for Chris Bosh, who’s nearing a commitment to the Rockets.

The first-rounder headed to the Lakers is Houston’s 2015 pick, tweets Mike Bresnahan of the Los Angeles Times. It’ll include protections, and the Rockets will also send a second-rounder the Lakers’ way, according to Jonathan Feigen of the Houston Chronicle (Twitter link).

The deal indicates that the Lakers are ready to move forward and focus on next summer’s free agent group, since they’re committing nearly $8.4MM of their cap space to Lin. They missed out on LeBron James, and while Carmelo Anthony reportedly hasn’t told the Lakers they’re out of the running for him, another report indicates that ‘Melo has narrowed his choice to the Knicks and Bulls.

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