The Oklahoma City Thunder have traded James Harden to the Houston Rockets.
The Rockets have sent Kevin Martin, Jeremy Lamb and future pick considerations (first round picks from Mavericks and Raptors in 2013, and a second round pick from the Bobcats) for Harden, Cole Aldrich, Lazar Hayward and Daequan Cook.
Harden had previously turned down a four-year, $52 million extension from the Thunder. Harden had been seeking a max contract of $60 million over four seasons.
Harden will return to Oklahoma City as a member of the Thunder on Nov. 28, the lone appearance by the Rockets in 12-13.
The Rockets will begin discussions on a contract extension with Harden's agent, Rob Pelinka.
"We wanted to sign James to an extension, but at the end of the day, these situations have to work for all those involved. Our ownership group again showed their commitment to the organization with several significant offers," Sam Presti said. "We were unable to reach a mutual agreement, and therefore executed a trade that capitalized on the opportunity to bring in a player of Kevin's caliber, a young talent like Jeremy and draft picks, which will be important to our organizational goal of a sustainable team. We appreciate James, Cole, Daequan and Lazar’s contributions to the Thunder organization and this community and wish them the best in the future.”