MONDAY, 9:43am: The moves are official, the team announced via press release.
SATURDAY, 7:24pm: Eric Pincus of Basketball Insiders tweets that the Rockets have waived Earl Clark and Akeem Richmond, shortly after claiming and signing each, respectively, to their preseason roster.
The moves aren’t surprising, as the team is looking to reduce the size of its roster, which includes 15 guaranteed contracts and starting point guard Patrick Beverley on a non-guaranteed pact. Clark’s contract was non-guaranteed and won’t hit the Rockets cap sheet. It is unknown if Richmond’s deal contained any guarantees, although I would speculate that it would have been a partially guaranteed contract at best.
Clark has slipped considerably as an NBA commodity, in danger of falling out of the league after signing an $8.5MM deal just last year. Richmond wasn’t selected in the 2014 NBA Draft after declaring following his sophomore season at East Carolina. Houston will retain the D-League rights to both, provided they clear waivers. The maneuvers were most likely made with that end in mind, although that is also just speculation on my part.