Hoops Rumors is checking in on the 2026 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Houston Rockets.
Free agent signings
- Tari Eason: Five years, $81,509,460. Fifth-year player option. Trade kicker (10%). Re-signed using Bird rights.
- Marcus Smart: Two years, $12,4321,200. Second-year player option. Signed using taxpayer mid-level exception.
- Isaiah Crawford: Four years, $11,274,871. Non-guaranteed. Re-signed using Non-Bird rights.
- Bogdan Bogdanovic: One year, minimum salary. Fully guaranteed. Signed using minimum salary exception.
- Jae’Sean Tate: One year, minimum salary. Partially guaranteed ($1,039,669). Re-signed using minimum salary exception. Waived right to veto trade.
- Julian Phillips: One year, minimum salary. Non-guaranteed (Exhibit 9/10). Signed using minimum salary exception.
- Oscar Tshiebwe: One year, minimum salary. Non-guaranteed (Exhibit 9/10). Signed using minimum salary exception.
Trades
- Acquired the draft rights to Bruce Thornton (No. 31 pick) and the draft rights to Nick Martinelli (No. 55 pick) from the Knicks in exchange for the draft rights to Jack Kyle (No. 39 pick), the draft rights to Ugonna Onyenso (No. 53 pick), the draft rights to Mojave Kingand the Kings’ 2029 second-round pick.
- Acquired cash ($1,964,000) from the Clippers in exchange for Nick Martinelli (No. 55 pick).
- Acquired cash ($110K) from the Hornets in exchange for Dorian Finney-Smiththe Grizzlies’ 2027 second-round pick, the Rockets’ 2028 second-round pick, and the Rockets’ 2033 second-round pick.
Draft picks
- 2-31: Bruce Thornton
- Signed to four-year, $9,264,648 contract. First year guaranteed. Second and third years non-guaranteed. Fourth-year team option.
Two-way signings
Note: The Rockets carried over Tristen Newton on a two-way contract from 2025/26.
Departed/unsigned free agents
Other roster moves
Salary cap situation
Note: Figures are rounded to one decimal place.
- Operating over the cap ($165MM) and below the first tax apron ($209MM).
- Hard-capped at second apron.
- Team salary: $200.4MM (tax/apron).
- Below luxury tax line by $14K; below hard cap by $21.3MM.
- Partial non-taxpayer mid-level exception ($9MM) and full bi-annual exception ($5.1MM) available.
- Note: Using either one would hard-cap the Rockets at the first apron.
- One traded player exception available (worth $13.3MM).
The offseason so far
After making a significant trade last summer for star forward Kevin Durantthe Rockets have had a relatively quiet offseason so far in 2026. Houston held the right of first refusal on forward Tari Eason after tendering him a qualifying offer in June to make him a restricted free agent, and the team re-signed the former No. 17 overall pick to a five-year, $81.5MM deal in early July.
Veteran guard Fred VanVleet could have become an unrestricted free agent this summer if he had opted out of his $25MM player option for 2026/27, but instead he exercised that option at the end of June. The 32-year-old will be a free agent in 2027.
Those two transactions pushed the Rockets deep into the luxury tax, but they ameliorated those financial concerns by sending the Hornets three second-round picks to take on the $13.3MM owed to Dorian Finney-Smith in 2026/27 (his salary is technically $14.2MM now after receiving a trade bonus). The 33-year-old forward was one of general manager Rafael Stone‘s primary additions last summer, but he struggled to recover from offseason ankle surgery in 2025/26 and didn’t play anywhere close to his normal level in his first season as a Rocket.
Despite playing without VanVleet (torn ACL and meniscus) for all of last season and only having veteran center Steven Adams available for 32 games after he underwent season-ending ankle surgery in January, Houston still managed to win 52 regular season contests for the second straight year and entered the playoffs as the No. 5 seed in the Western Conference. However, the Rockets once again fell in the first round, this time at the hands of the Lakers.
One player who played extremely well in that series for Los Angeles was Marcus Smartwho averaged 14.7 points, 5.5 assists, 3.7 rebounds, 2.7 steals and 1.7 blocks on .464/.448/.742 shooting in six games. Smart declined his $5.4MM player option for 2026/27 to test free agency, and he has been the Rockets’ primary external addition this offseason, reuniting with former head coach Making Udoka on a two-year, $12.4MM deal, which includes a player option for 2027/28.
Houston added another veteran guard this summer in Bogdan Bogdanovicwho signed a one-year deal for the veteran’s minimum. The Serbian national team star has battled injuries the past two seasons, but will provide proven shot-making and secondary play-making as long as he can stay healthy.
Stone said last month that the Rockets identified ball-handling, passing and decision-making as areas that needed improvement, and he believes Smart and Bogdanovic will help fill those needs. He was particularly happy to add Smart, whom he didn’t think would be available.
The Rockets also made a handful of back-end roster moves, re-signing Jae’Sean Tate to a one-year, minimum-salary contract that features a $1MM partial guarantee; retaining Isaiah Crawford on a four-year deal that’s fully non-guaranteed; trading up to acquire No. 31 overall pick Bruce Thornton; waiving JD Davison‘s non-guaranteed contract; and adding Julian Phillips and Oscar Tshiebwe on Exhibit 10 agreements for training camp.
Up next
Houston will almost certainly open 2026/27 with 14 players on its standard roster, as adding a 15th man would push the club over the luxury tax line. As of now, the team wouldn’t be able to fill that final roster spot until the last day of the regular season if it wants to avoid the tax.
Whether the Rockets choose to remain below the tax line ahead of the February trade deadline is an interesting question. Presumably the front office will wait and see how the team is performing at that point before determining whether additional moves are necessary. For what it’s worth, Stone opted against making any trades ahead of the 2026 deadline despite the injuries to VanVleet and Adams.
With 12 players on guaranteed contracts and Tate seemingly having the inside track on the 13th spot due to his long tenure with the team (he’s entering his seventh season as a Rocket) and his partial guarantee, the 14th roster spot could come down to Crawford, Phillips, Tshiebwe, or another other camp invitee. It’s possible one (or more) of those players could end up on two-way contract as well; the Rockets currently have one two-way opening.
The last bit of offseason business still looming over the Rockets is a potential rookie scale extension for Amen Thompsonwho will remain extension-eligible until the day before the regular season begins in October.
Thompson is one of the best athletes in the NBA and is a dynamic player on both ends of the court, having averaged 18.3 PPG, 7.8 RPG, 5.3 APG and 1.5 SPG in 79 regular season appearances in 2025/26 (37.4 MPG). While the former No. 4 overall pick is an excellent defender and improved his free-throw percentage from .684% over his first two seasons to .779% in ’25/26, his jump shot remains a work in progress, which makes it difficult to project what his next deal might look like.
Stone signed Alperen Sengun to a five-year, $185MM rookie scale extension two years ago, locked Jabari Smith Jr. into a five-year, $122MM deal last summer (it kicks in this season), and re-signed Eason to the aforementioned five-year deal, so there’s recent precedent for the Rockets being eager to sign their young core to long-term deals. If Houston can’t reach an agreement with Thompson this offseason, he’ll be on track for restricted free agency in 2027.