The NBA offseason is still young but the Houston Rockets may be ready to make its biggest acquisition.

The Houston Chronicle cites several league sources in reporting that the Rockets are the frontrunners to acquire disgruntled Magic Tracy McGrady and that a deal to bring the superstar to Houston could be done as early as Wednesday.

The centerpiece of such a deal would be a swap of McGrady for the Rockets' all-star point guard Steve Francis.

"I expect to know (by Thursday)," Magic general manager John Weisbrod said. "I can't say that I would expect that to be public information. I have every intention of knowing where that's going when we make these (draft) decisions."

McGrady's meeting with Magic ownership confirmed that McGrady intends to opt out of his contract and would prefer an earlier departure from Orlando.

Despite McGrady's contract status, the Magic has received no shortage of high-quality offers.  League sources say as many as ten teams have contacted the Magic about acquiring McGrady.