FRIDAY, 5:11pm: The Rockets have followed with a formal announcement of Thursday’s move, via press release.
THURSDAY, 8:55pm: The team has waived Powell, as is indicated by the RealGM transactions log. The Rockets have made no formal announcement as yet.
10:54am: The Rockets are waiving Josh Powell, a source tells Shams Charania of RealGM (Twitter link). Charania indicates the move has already taken place, though the team has yet to make an announcement. The eight-year veteran was on a non-guaranteed deal that he signed with the team shortly before the end of the 2013/14 season.
Powell appeared in just one regular season game with Houston and put up four points in more than 19 minutes of work, but he didn’t make it into any of the Rockets’ playoff games. Houston didn’t give the 31-year-old any run in the preseason, either, so it appeared he was around chiefly so his contract could serve as ballast for a potential trade, though that’s just my speculation. He hadn’t appeared in an NBA regular season game since 2010/11 before the Rockets picked him up.
The move will drop the Rockets to 19 players, leaving much work to do before opening night. Patrick Beverley‘s contract is the only one that’s known to be without any guaranteed money remaining on Houston’s books. The Rockets added Geron Johnson and cut Akil Mitchell earlier today.