12:38pm: Canaan and the Rockets have reached an agreement on a one-year, non-guaranteed contract, tweets Michael Scotto of Basketball Insiders. The signing is now official, per Jonathan Feigen of The Houston Chronicle (Twitter link).
12:07pm: The lone opening on the Rockets’ 15-man NBA roster is expected to be filled soon, according to Chris Haynes of ESPN.com, who reports (via Twitter) that free agent point guard Isaiah Canaan intends to sign with Houston.
Canaan, 26, began his NBA career in Houston, joining the Rockets as the 34th overall pick in the 2013 NBA draft. However, he was traded to the Sixers at the deadline in 2015, then joined the Bulls for the 2016/17 campaign after spending a season and a half in Philadelphia.
Although Canaan inked a two-year contract with the Bulls, he struggled in his first season with the team, averaging just 4.6 PPG and 0.9 APG on .364/.266/.909 shooting in 39 games. Chicago had a crowded depth chart at point guard and Canaan’s 2017/18 salary wasn’t fully guaranteed, so the Bulls cut him during the offseason. The Murray State product spent the preseason with the Thunder, but wasn’t able to crack the team’s regular season roster, heading back to the free agent market earlier this month.
When the Rockets and Canaan finalize their reported agreement, he’ll help provide some depth at the point guard spot while Chris Paul recovers from his knee injury. The Rockets indicated last week that Paul’s injury may be “day-to-day” or “week-to-week,” but if the club feels the need to add another point guard to the roster, it’s likely the latter.
Adding Canaan to the roster may also give the Rockets the flexibility to keep two-way players Demetrius Jackson and Briante Weber in the G League, rather than running their respective 45-day NBA clocks.
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