8:00pm: The deal is official, per NBA.com’s transaction log.
Fernando was recently converted from an Exhibit 10 contract to a two-way contract, but he’ll be converted again to this multiyear deal. The team wouldn’t have been able to convert him directly from his Exhibit 10 deal to a multiyear contract, but the intermediate step of the two-way made it possible.
Houston acquired Fernando, 24, in a deal with the Celtics earlier this year. The team sent away center Daniel Theis, also receiving Dennis Schröder and Enes Freedom. Fernando averaged 6.9 points and 4.0 rebounds in 10 games with Houston to finish the season.
At 6’9″ and 240 pounds, Fernando is an athletic big man who lives around the rim. He has played in 119 NBA games with Atlanta, Boston and Houston during his career. He was also the No. 34 pick in 2019 after spending two collegiate seasons at Maryland.
With the move, Houston will reopen a two-way spot. The team finished with the worst record in the league last season at 20-62.