The Rockets have traded Jeremy Lin to the Los Angeles Lakers, according to a report from Yahoo! Sports.
Lin was owed $14 million in the final season of his three-year contract. The report says the Rockets will also send the Lakers a 2015 first-round draft pick.
Lin signed with the Rockets as a free agent in 2012. In two seasons in Houston he averaged 12.9 points, 5.1 assists and 1.3 steals per game. He lost his starting job with the Rockets to Pat Beverley in his second season.
Lin averaged 22.5 points and 8.7 assists for the New York Knicks in his first 12 starts, propelling him to international stardom. He is the first American-born player of Chinese or Taiwanese descent in NBA history.