Adrian Wojnarowski also reports that the Rockets and Cavs are have deals lined up to send out Jeremy Lin and Jarrett Jack, respectively.
From Marc Stein:
Also from the Stein article:
"It's believed that the Rockets would have to send Philadelphia at least one future first-round pick to convince the Sixers to go through with the deal."
Stein went on to say that the Rockets would only trade Lin if they are sure that they are getting one of the top free agents on the market. So, while the Sixers and Rockets could come to terms on a deal, it's possible that a deal may never materialize if the Rockets are not able to attract a free agent. Or, the Rockets could have a verbal agreement from Carmelo Anthony or Chris Bosh already in place. The situation will be an interesting one to follow over the next few days.
Many outlets will report this as the Sixers are pursuing Jeremy Lin, but that's not likely to be their main motivation. The more likely scenario is that the Sixers are looking to acquire a first round pick, and taking on Jeremy Lin's salary so that the Rockets can have more cap space to use in free agency is the cost to do so. Lin, despite his contract only counting $8.4 million against the cap, is owed $15 million this upcoming season.
That's not to say that Lin wouldn't provide some value, as at 6'3" in size and an improving (albeit inconsistent) outside shot, he could get some minutes with Michael Carter-Williams, and while I can't see him providing too much of an attendance boost on a team this bad, every little bit would help the owners get through what should be another tough year at the gates.
That being said, I have no doubt that the impetus for this transaction would be the assets coming along with Lin. The most likely way that the Sixers will use their cap space this free agency period is to acquire assets in exchange for helping other teams get further under the salary cap. The ability to get future assets for taking on a contract that doesn't extend beyond this year is a situation that Sam Hinkie has shown to be willing to pounce on in the past.