The Miami Heat and Chris Bosh are finalizing a five-year, $118 million deal.
Bosh also strongly considered signing with the Houston Rockets on a four-year, $88 million deal.
The Heat are also attempting to re-sign Dwyane Wade.
With LeBron James leaving to the Cleveland Cavaliers, Bosh will sign for a significantly larger contract to re-sign with the Heat.
Isaiah Thomas has reached agreement with the Phoenix Suns and will be dealt as a sign-and-trade on a four-year, $27 million contract.
Thomas is a restricted free agent of the Sacramento Kings.
The Kings will receive a $7 million traded player exception, along with the draft rights to Alex Oriakhi.
Sam Amick reports that the Suns envision a three-guard lineup of Eric Bledsoe, Goran Dragic and Thomas.
Vince Carter has agreed to a three-year, $12.2 million deal with the Memphis Grizzlies, according to sources.
The Dallas Mavericks hoped to keep Carter but were not able to afford to pay him as much as Memphis after extending an offer sheet to Chandler Parsons.
Mike Miller also announced he would not return to the Grizzlies.
Jordan Hill has agreed to re-sign with the Los Angeles Lakers on a two-year, $18 million deal.
Hill fell out of favor with Mike D’Antoni last season.
The Lakers are preserving cap space for the 2016 offseason.
Nick Young has agreed to re-sign with the Los Angeles Lakers on a four-year, $21.5 million contract, a league source told RealGM.
Young, who signed with the Lakers last offseason, will hold a player option on the fourth season of his new deal.
Young averaged 17.9 points in 28.3 minutes per game last season while posting a True Shooting Percentage of .564.
The Houston Rockets have agreed to trade Jeremy Lin to the Los Angeles Lakers.
The Rockets must clear Lin from their salary cap in order to sign Chris Bosh to a max contract.
The Lakers have plenty of cap space to trade for Lin and his contract expires after the 14-15 season.
Update: The Lakers will receive a future first round pick and other draft considerations, while sending back cash and the rights to an overseas player back to the Rockets.
Bill Oram reports that Lin’s agent says his client is “thrilled” to be traded to the Lakers. Lin feels valued by the Lakers and is excited to play with Kobe Bryant.