The Houston Rockets will have to alter their search for a veteran guard once their top target, Damon Stoudamire, agreed to a 4 year, $17 million deal with the Memphis Grizzlies.
The deal can't be completed and officially announced until the league lifts its "July Moratorium," which prohibits trades and free agent signings from happening until the salary cap is set.
Stoudamire, 31, appears to be a good fit for the Grizzlies, who are bracing for the loss of Earl Watson. Memphis reportedly is pursuing a sign-and-trade deal for Watson, who spent three seasons backing up point guard Jason Williams.
Stoudamire averaged 15.8 points and 5.7 assists with Portland last season.