by Ryne Nelson

Several sources are reporting a three-team trade that will send Rafer Alston to the Magic. Jonathan Feigen of the Houston Chronicle reported the deal–one that could signal rebuilding mode in Houston:

The Rockets reached an agreement to trade point guard Rafer Alston to the Orlando Magic, an individual with knowledge of the deal said Thursday. The Rockets will receive forward Brian Cook from Orlando and guard Kyle Lowry from the Memphis Grizzlies in the trade.

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Memphis will receive Orlando’s first-round pick as part of the trade.

Houston traded one of its few players who played solid ball all season. They’re going in another direction by putting the rock in Kyle Lowry’s (slippery) hands. He’s likely come off the bench if the Rockets don’t have any last minute plans still in the works.

The Magic give up some insignificant parts—Cook and a first rounder (27th as it stands now)—for Alston, who will make the team respectable at the PG again. Alston’s a better scorer and leader than either Anthony Johnson or Tyronn Lue. On top of that, Skip’s contract will barely affect Orlando’s cap situation.

The trade brings the Grizzlies a couple million more under the cap.