The New York Times reports that the Glen Rice deal has hit a snag. Whether it is a minor setback or the first sign of a trade about to be rescinded will be decided over the next 48 hours.

What is clear is that the Houston Rockets postponed a news conference yesterday in which they were to introduce Rice, the three-time All- Star shooting guard/forward, as their newest franchise player. Rockets team physicians wanted more time to review Rice's medical records before making official the three-team deal with the Knicks and the Dallas Mavericks.

The Rockets have until 12 p.m. Friday to approve the deal. If the Rockets do not approve the trade, all the players will return to their current teams. Anderson's six- year, $40 million deal ? the amount the Rockets signed him for in order for him to become a Knick ? would be voided.