MONDAY, 12:50pm: The Rockets have officially signed Camby, the team announced today in a press release.
SUNDAY, 12:23pm: Camby will sign for one year at the minimum salary, reports Ian Begley of ESPNNewYork.com (Twitter link).
11:59am: The Rockets will sign Marcus Camby today, tweets Marc J. Spears of Yahoo! Sports. Mark Berman of Fox 26 Houston reported just moments earlier that the move was expected to take place (Twitter link). Camby already passed a physical with Rockets team doctors, and agent Rick Kaplan recently told Jonathan Feigen of the Houston Chronicle that the Rockets were at the top of Camby's list of suitors.
Camby, a resident of nearby Pearland, Texas, had a desire to play at home and with a contender, Feigen tweets, giving the Rockets the edge over the Bulls and Heat, the other leading candidates for the 39-year-old. The Bulls appear to be the first runner-up, as talks between Camby and Chicago were reportedly going "extremely well" on Friday. The Heat's interest appeared to be on the wane.
The 17-year veteran will probably receive a minimum-salary deal, though the capped-out Rockets have their full $2.652MM room exception available. Camby has had one prior stint with the Rockets, who acquired him at the trade deadline in 2012 before participating in a sign-and-trade last summer with the Knicks. Camby inked a three-year, $13.151MM contract to go to New York, but injuries kept him from living up to it, limiting him to just 42 points in 24 games this past season.
The Knicks shipped him to the Raptors in the Andrea Bargnani trade this month, and Toronto accepted Camby's request that they buy him out. The Raptors reportedly recouped $2MM of the guaranteed portion of Camby's deal.