5:48pm: The signing is official, per team release.
2:19pm: The Rockets are finalizing a non-guaranteed deal with veteran guard Gerald Green, according to ESPN’s Adrian Wojnarowski (via Twitter). The deal is not complete but the Rockets expect to sign Green before tonight’s game against the Celtics, per Jonathan Feigen of the Houston Chronicle (via Twitter).
Green, 31, signed with the Bucks in September but was released after playing in four preseason games. The 10-year NBA veteran has played for eight teams in his professional career, including two seasons overseas in Russia. Green was a key bench piece for the Celtics last season as he averaged 5.6 PPG in 47 games for Boston.
Green previously played for Houston during the 2007/08 season but was released after appearing in just one game.
ESPN’s Bobby Marks (via Twitter) has the financial breakdown of Green’s deal. Depending on when the deal is signed, the Rockets will incur a cap hit anywhere from $864,000-$872,000 if Green is not waived by January 7.