The 2013 NBA offseason saw many teams initiating their rebuilding process by preparing to tank the upcoming season in order to obtain a high selection in the strong draft class of 2014.

The Philadelphia 76ers traded their young All-Star point guard for an injured rookie and a first round pick in next year’s draft.

The Utah Jazz let their two highest scorers walk in free agency.

The Boston Celtics traded their two future Hall of Famers without getting any players near their level of production in return.

Many general managers seek to avoid the “treadmill of mediocrity” because it’s difficult to overhaul a roster without obtaining a high draft pick.

"The worst thing you can do is be burdened with contracts that are $6-7-8 million a year that go out 3-4 years and you have just kind of average players," Mitch Kupchak said last month. "Then you’re really kind of stuck in the middle -- you’re not going to get a good draft choice and you’re not going to have financial flexibility."

While “bottoming out” and drafting a superstar may be the quickest way to restart, it is a risky strategy that may not be suitable for owners who don’t support the idea of intentionally losing games. Look at the Charlotte Bobcats, who have had many high draft picks, but have not yet found the transformational player capable of turning around their franchise.

Despite opinions to the contrary, it is possible to avoid the “bottoming out” process and still build a contender as I examine how Daryl Morey assembled a championship level roster for the Houston Rockets, despite not drafting in the top 10 in any of the past five years.

Morey took over in the Rockets' front office after the 2007 season, but his rebuilding process really began a few years later in 2010. The Rockets won 50+ games four times between 2004 and 2009, mainly because of the dynamic duo of Tracy McGrady and Yao Ming. However, the Rockets only won one playoff series during that era, which interestingly enough, occurred with McGrady sitting out due to a knee injury. The team started out 17-12 in the 2009-10 season and McGrady only played six of those games, as he was still recovering from his knee injury. This is when the Rockets’ rebuilding process officially commenced. 

In a trade with the New York Knicks and Sacramento Kings, the Rockets traded McGrady and Carl Landry in exchange for Jordan Hill, Jared Jeffries, Hilton Armstrong, Kevin Martin, the right to swap 2011 first round picks with the Knicks and a 2012 first round pick from the Knicks. The trade was not exactly typical of a team looking to rebuild because the Rockets actually added salary to their books for the next three years.

However, the Rockets acquired three important assets:

1. Martin, a 27-year-old shooting guard who averaged 24.6 PPG the previous season.

2. Hill, an athletic rookie big man who was the eighth pick in that year’s draft

3. The Knicks 2012 first round selection.

Because of McGrady’s knee injury, the Rockets actually improved their team for that particular season by acquiring Martin. Additionally, the trade was future-oriented because of the valuable assets that the Rockets acquired. Increasing salary and improving your team’s current roster are not typical rebuilding strategies, but Morey understood the value of first round picks and players on rookie contracts, which we’ll see later.

The Rockets finished the 09-10 campaign ninth in the Western Conference (a common theme over the next few years) and they continued stock their roster with assets by re-signing young point guard Kyle Lowry and skilled veteran big man Luis Scola in the offseason. Once again, the Rockets elected to retain actual assets rather than pursuing the more risky strategy of compiling cap space in order to lure a big time free agent. During the 10-11 and 11-12 seasons, they stuck to their plan of accumulating assets, as they sacrificed both Aaron Brooks and Jordan Hill (contributing players) for future picks. They ended both seasons in ninth place, but they were being patient by loading up with draft picks and young players on desirable contracts so they’d be prepared when an opportunity presented itself.

That opportunity came in the 2012 offseason, but not before the Rockets executed a few more transactions and acquired even more draft picks. They drafted (1) Royce White with the pick from the previously mentioned McGrady trade, (2) Jeremy Lamb after trading Samuel Dalembert and their 14th pick to move up two spots in the draft and (3) Terrence Jones by trading Chase Budinger.

Furthermore, they traded Kyle Lowry, who was coming off his best season, for the Toronto Raptors' 2013 first round pick, which was projected to be a lottery pick based on the Raptors recent history.

On top of all those draft picks, the Rockets signed Jeremy Lin and Omer Asik away from the Knicks and Bulls, respectively.

The Rockets were loaded with young players and draft picks. They had four rookies from the first round (White, Lamb, Jones, and Motiejunas who stayed in Europe for a year), two future first round picks that were potentially lottery picks (2013 Raptors and 2014 Mavericks from the Jordan Hill trade), two young and effective players on reasonable contracts (Lin and Asik), and a quality veteran scorer with an expiring contract (Kevin Martin).

They acquired all these assets without “tanking,” as they never finished below ninth place in the conference. By constantly acquiring/retaining valuable assets, Morey avoided the risky paths of relying on a rookie becoming a franchise player or relying on a superstar free agent signing in Houston despite not having a superstar teammate to play with. Instead, Morey made his own luck by executing a series of trades and signings to make sure the Rockets were constantly in a position to make a big move.

The opportunity that the Rockets patiently waited for presented itself when the Oklahoma City Thunder decided they could not afford to pay James Harden on a long-term deal and they needed to trade him for some cheaper assets. That’s where the Rockets jumped in and traded Lamb, Martin, the Raptors' first, and the Mavericks' first for Harden. In addition to acquiring a future perennial All-Star, the Rockets essentially put themselves on the map as an attractive destination for talented free agents who are looking to follow the current trend of teaming up with other superstars to contend for a championship.

By retaining enough cap space for one max-level player after acquiring Harden, the Rockets successfully wooed Dwight Howard, which would have been much more difficult if Harden weren’t already on the team. Furthermore, the Rockets acquired so many assets during their rebuilding process, such that they currently possess a solid supporting cast in place behind Harden and Howard, including Lin, Asik, Chandler Parsons, and more solid role players who should help the Rockets contend for the Finals this upcoming season.