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Basketball news gathered from around the net.

Rockets Formally Inform Chandler Parsons Of Declined Team Option

The Houston Rockets have officially informed Chandler Parsons that they will decline his team option for next season, thus making him a restricted free agent.

The Rockets have stated they hope to re-sign Parsons.

Parsons would have been an unrestricted free agent in 2015 if the Rockets had picked up the option.

Via Marc J. Spears/Yahoo! Sports
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