6:33pm: The Rockets will receive cash considerations, not a draft pick, from the Nets in exchange for McDaniels, tweets Michael Scotto of Basketball Insiders. The deal is now official.
3:57pm: The Nets will send a future draft choice – presumably a protected second-round pick – to the Rockets as part of the deal, according to a report from The Associated Press.
1:32pm: The Rockets have traded K.J. McDaniels to the Nets, according to Adrian Wojnarowski of The Vertical (Twitter links). The deal will save the Rockets roughly $3.3MM, which the team plans on using once the buyout market establishes itself.
Teams cannot take on a player/draft picks from another team without receiving some sort of compensation in return, per NBA rules. It’s likely that Houston will receive either a heavily protected second-round pick or the rights to a player currently playing abroad in the trade.
Brooklyn was about $13.5 under the salary cap after the Andrew Nicholson trade and it had an open roster spot after waiving Marcus Thornton on Wednesday. With McDaniels aboard, the Nets have 15 players under contract, as the team’s depth chart at Roster Resource indicates.
McDaniels shined during his rookie season with the Sixers, but he hasn’t gotten consistent playing time since Philly traded him to Houston at the 2015 trade deadline. The Clemson University product saw 1352 minutes of action during his first half season in the league with the Sixers, but he only received a total of 447 minutes in the two years since.