Jason Terry Re-Signs with Rockets: Latest Contract Details, Comments, Reaction

Jason Terry will be back with the Houston Rockets this coming season after agreeing to a veteran-minimum deal with the team, according to Jonathan Feigen of the Houston Chronicle.

Shams Charania of RealGM reported that the deal is worth $1.5 million. Charania reported on Aug. 18 that Terry chose the Rockets despite a strong push from the New Orleans Pelicans.

Terry went on to confirm the deal on Wednesday, saying "it's official," via Mark Berman of Fox 26.

There had been rumblings recently that Terry was nearing a deal to remain in Houston, and it's not hard to understand why the team wanted to keep the veteran guard.

The Rockets got Terry from the Sacramento Kings in a trade for Alonzo Gee last September. He played an integral role off the bench during Houston's run to the Western Conference Finals. The 37-year-old averaged seven points per game and shot 39 percent from three-point range in 2014-15.

There haven't been many bench players better than Terry since 2007-08, when the Dallas Mavericks started using him in that role. He was named the NBA's Sixth Man of the Year in 2008-09 and continues to shoot a high percentage from distance.

After winning two playoff series last year, the Rockets restocked by re-signing Patrick Beverley and Corey Brewer and trading for a major upgrade at the point in Ty Lawson.

The balance of power in the NBA lies in the Western Conference. Houston owned the second-best record in the conference last year at 56-26 and is now set up for another big season in 2015-16 after taking care of its starting lineup and bench.