The Houston Rockets will decline the fourth-year option on the contract of Chandler Parsons to allow him to become a restricted free agent.
The Rockets hold a $960,000 option on Parsons for 14-15, but this move will allow the club to sign him this summer to a long-term deal to avoid letting him become an unrestricted free agent next summer.
Houston is determined to create the necessary cap space to pursue a third max contract free agent.
LeBron James, Chris Bosh, Carmelo Anthony and Dirk Nowitzki are prospective targets for the Rockets.
The Rockets will also pursue a trade for Kevin Love, which creates sign-and-trade possibilities involving Parsons.
The Rockets could sign three max contract players and then re-sign Parsons to a new deal below the max-level range.
Parsons could command between $12 million and $13 million per season.