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After the Rockets and Kings reportedly agreed to a deal a few weeks ago, the two parties have finalized a trade to send Jason Terry and a pair of second round draft picks to the Rockets in exchange for Alonzo Gee and Scotty Hopson, gaining a pair of assets from the Kings in return for taking on Terry's salary for the season.
With both Gee and Hopson likely to be cut in training camp, the Rockets had a ticking clock to trade their non-guaranteed contracts in exchange for assets, and they pounced on a move with the Kings, who are trying to stay under the luxury tax for the coming season.
Seeing Terry in a Rockets jersey will be weird, but if he can catch some of the magic he always seemed to have in the Toyota Center now that he's not playing against the Rockets, all will be forgiven. The Rockets don't have much depth or experience on the bench, so he will be a welcome addition if he can regain his form and get going from three point distance.