Thomas Campbell-US PRESSWIRE

The Houston Rockets have agreed to trade point guard Kyle Lowry to the Toronto Raptors for a future first round pick and Gary Forbes.

Lowry and Rockets head coach Kevin McHale had a falling out and Lowry has been looking to get out ever since.

The Rockets have made an offer sheet to restricted free agent Jeremy Lin for four years, $30 million. The New York Knicks are expected to match the offer for Lin especially after failing to acquire Steve Nash who became a Laker last night.

The earliest Lin can sign it is July 11 then the Knicks will have three days to match it. The Knicks have also emerged as the favorite to sign Raymond Felton.

The Raptors were also hopeful to land Nash so much that they agreed to an offer sheet of three years, $20 million with Landry Fields. The Raptors won’t totally lose out as they settle for Lowry as a decent consolation prize.

The Los Angeles Clippers have effectively taken themselves out of the running for Ray Allen by signing Jamal Crawford to a 3-year, $15.7 million deal. Allen was set to meet with the Clippers on Friday.

The Clippers have also agreed on a 1-year deal for Chauncey Billups.

The Clippers were a tough team last season that gave the Oklahoma City Thunder some trouble in the regular season. They were obviously in the market for a two guard after being forced to start Randy Foye there in the playoffs.

Lob City was swept by the San Antonio Spurs in the second round but have made some nice moves to prepare for next season including trading for Lamar Odom.

As we always forget about the Spurs during this time of the year, the top of the West is looking like OKC, LA, LA right now.

Meanwhile, Allen is meeting with the Heat today and is now expected to sign there even though Boston is offering Allen nearly double in salary that Miami can.