NBA Trade Rumors: Houston Rockets Trade Guard Kyle Lowry to the Toronto Raptors

According to a report by ESPN.com's Marc Stein, the Houston Rockets are on the verge of trading disgruntled point guard Kyle Lowry to the Toronto Raptors.

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Just going up online and via SportsCenter: Sources tell ESPN that Raptors are on verge of acquiring Rockets guard Kyle Lowry via trade

— Marc Stein (@ESPNSteinLine) July 5, 2012"

This move comes less than 24 hours after target Steve Nash, the Raptors No. 1 free agent target, signed a three-year deal with the Los Angeles Lakers as part of a sign-and-trade deal.  

The Raptors had targeted Nash not only for his prowess as player, but also as a homecoming ceremony for Nash, who spent nearly all of his formative years as a Canadian resident. (Note: Nash was actually born in South Africa).

Lowry will be able to step in and fill the point guard shoes, though he won't be the same box office draw.  The Villanova product averaged a career-high 14.3 points per game and 6.6 assists per game, but missed 19 games while battling a bacterial infection and sports hernia this past season.

For the Rockets, this move makes way for a possible Jeremy Lin signing as reports surfaced that Houston was on the verge of signing the point guard to a four-year offer sheet. Lin's arrival is contingent on the New York Knicks not matching the offer for Lin, who became an overnight sensation for the team this past season.  

It also allows the team to get something in return for Lowry, who let his feelings of unhappiness be known in an interview with the Houston Chronicle in May:

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“I don’t think [Rockets coach Kevin McHale and I can coexist],” Lowry, 26, said. “I honestly think it would be tough. Things have to be addressed. The situation would have to be addressed. If things aren’t addressed coaching-wise, I guess I have to be moved.”

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The trade details are still being worked out, but Stein is reporting that the Rockets will receive at least one future first round pick as part of the deal.  

Update:

Yahoo!'s Adrian Wojnarowski is reporting that the first round pick Houston will receive is a "guaranteed lottery pick":  

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Toronto will send a future first-round pick that source says "is conditional with high upside" for Houston. "Guaranteed lottery pick."

— Adrian Wojnarowski (@WojYahooNBA) July 5, 2012"

Update (2:45 PM ET):

More details are emerging from the trade, as Houston Chronicle Rockets beat writer Jonathan reports that forward Gary Forbes will be heading to Houston along with the aforementioned first round pick:

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Rockets will get Gary Forbes in the trade, a source said, butRockets will deal Lowry for pick. Exact details of protection still discussed

— Jonathan Feigen (@Jonathan_Feigen) July 5, 2012"

The UMass product Forbes, 27, averaged 6.6 points per game last season in just 14.9 minutes per night.  With this deal, the Raptors, are getting great value on a player who was at a near All-Star level for much of last season.  

Update (3:15 PM ET):

The deal is done, as Lowry will head to the Raptors in exchange for Forbes and a first-round pick which Houston Chronicle columnist Jerome Solomon has a couple of updates on:

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Rockets won't get top-3 pick next year, top-2 pick next two years or No. 1 pick the next two. Otherwise lottery pick goes to Houston.

— Jerome Solomon (@JeromeSolomon) July 5, 2012"

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The deal is a five-year rollover, so basically the only way Rockets get nothing is Toronto makes playoffs or gets No. 1 pick every yr.

— Jerome Solomon (@JeromeSolomon) July 5, 2012"

If Solomon's sources are correct, this could mean yet another huge asset for the Rockets as they either attempt to start the rebuilding process or continue making an aggressive run for superstars in the trade market.