Jeremy Lamb Trade: Houston Rockets Deal SG to Oklahoma City Thunder

Darin PikeContributor IOctober 27, 2012

LOUISVILLE, KY - MARCH 15:  Chris Allen #4 of the Iowa State Cyclones drives against Jeremy Lamb #3 of the Connecticut Huskies during the second round of the 2012 NCAA Men's Basketball Tournament at KFC YUM! Center on March 15, 2012 in Louisville, Kentucky.  (Photo by Jonathan Daniel/Getty Images)
Jonathan Daniel/Getty Images

The Houston Rockets and Oklahoma City Thunder have reached agreement on a multi-player trade. The Rockets are sending Jeremy Lamb and other considerations to the Thunder for James Harden.

The Rockets send Kevin Martin, Jeremy Lamb and future draft considerations to the Thunder for Harden, sources tell Y! Sports.

—Adrian Wojnarowski (@WojYahooNBA) October 28, 2012

The Thunder and GM Sam Presti have confirmed the trade, as reported by Darnell Marberry, Thunder beat writer for the Oklahoman.

Presti: "We wanted to sign James to an extension, but at the end of the day, these situations have to work for all those involved."

—Darnell Mayberry (@DarnellMayberry) October 28, 2012

Wojnarowski had reported earlier that Harden rejected a four-year, $52 million extension. The Thunder weren't going to raise the offer and preferred to get some value for Harden instead of losing him in free agency.

Lamb was taken with the 12th pick in the 2012 NBA draft and looks like a promising rookie. But the Rockets have the kind of depth that could have kept Lamb on the bench for the foreseeable future.

After a great showing in the summer league, Lamb's play seemed to plateau, if not regress, in recent weeks. He was going to be battling Carlos Delfino, Gary Forbes, Shaun Livingston and Marcus Morris for playing time.

The Rockets saw the opportunity to land a player who would provide an immediate impact on their roster and jumped at the opportunity.

Lamb was the first of three first-round draft picks made by the Rockets in the 2012 draft. They moved up two spots to draft Lamb, so dealing him so soon is a bit of a surprise. But their desire to land the defending Sixth Man of the Year isn't.

The Rockets will also receive Cole Aldridge, Lazar Hayward and Daequan Cook.

The NBA season tips off on Oct. 30. Time is running out to sign Harden to an extension, but perhaps the Rockets have a number in mind that will work for both parties.