Report: Lakers trade for Rockets' Jeremy Lin

The Lakers have acquired Jeremy Lin from the Rockets, according to ESPN's Jeff Goodman. Goodman reports that Rockets will send Lin and a first round pick to the Lakers, while Yahoo's Adrian Wojnarowski reports that the Lakers will send Houston the rights to an overseas player and cash.

Goodman notes that the deal is an attempt by the Rockets to free up enough cap space to land free agent Chris Bosh while also holding on to restricted free agent Chandler Parsons. Parsons signed a three-year, $45 million offer sheet with the Mavericksearlier this week, but Houston has the ability to match that offer. 

SI WIRE: Report: Rockets, Mavericks not talking sign and trade for Parsons

Earlier Friday, ESPN's Stephen A. Smith reported that the Lakers were no longer in contention for Carmelo Anthony.

Lin had also been linked to the 76ers as a possible trade target, but his contract proved too expensive for Philadelphia to absorb.

MAHONEY: Rockets' cap clock begins with Mavs' offer sheet to Chandler Parsons

Lin appeared in 71 games last season with the Rockets, starting 33 of those contests. He averaged 12.5 points and 4.1 assists in about 29 minutes per game.

The Lakers lost point guardSteve Blake to the Trail Blazers in free agency Thursday. 

- Dan Gartland