Hornets Trade Bobby Jackson For Bonzi Wells

Rockets to get Bobby Jackson for Wells, James
The Rockets reached agreement on a deal that will send guard/forward Bonzi Wells and guard Mike James to New Orleans today in exchange for backup point guard Bobby Jackson, individuals with knowledge of the talks said Wednesday night.
The deal, which has grown to include the minor involvement of the Memphis Grizzlies, is pending league approval, with a conference call scheduled for today.
The Rockets will make the move to add Jackson as a veteran point guard to play behind Rafer Alston, sending Wells to the first-place Hornets while getting New Orleans to take on the two seasons and $12.7 million remaining on James’ contract after this season.
Jackson is signed for $6.1 million through the 2008-09 season, potentially offering the Rockets the roster flexibility next season — with a large, expiring contract — that they did not have this season.
The Rockets also will receive rookie guard Adam Haluska and either their own or New Orleans’ second-round pick, whichever is greater. They previously had been sending a second-round pick next season to Seattle to complete the trade for the pick they used to draft Carl Landry in the 2007 draft.
With the deal, the Rockets will move under the luxury tax and might have an opportunity to make another roster move. Also with the deal, they move their player salaries under the luxury tax threshold of $67.865 million by enough that if there is a player available they would want to add, they could release a player to create a roster spot and sign a free agent to a pro-rated salary for the rest of the season without incurring a luxury tax penalty.
To complete the deal, Memphis will receive forward Marcus Vinicius and either a second-round pick or the rights to former Rockets draft pick Malick Badiane and the rights to an unsigned player from the Hornets.

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