UPDATE (7/1/17: 12:15pm)
It appears the deal between the Rockets and Nene is off due to the “Over 38 rule” in the NBA CBA which states a player cannot sign a contract longer than three years if he turns 38 years old before October 1 in any season of his contract. Nene will turn 38 on September 13, 2020, which comes before October 1 of the final year of his contract.
According to Bobby Marks of ESPN, the Rockets can only offer Nene a 3 year, $10.9 million contract, and Mark Spears of ESPN reports he is “back at square one in free agency”.
ORIGINAL POST: (7/1/17 – 1:50am)
Multiple media outlets reported late Friday night the Rockets and center Nene have agreed on a 4-year, $15 million contract.
The reports surfaced right before 11:00 when the 34-year old was set to become an unrestricted free agent after playing for the Rockets last season on a one-year, $2.9 million contract.
In his first year with the Rockets, Nene played in 67 games, matching his most games played since the 2010-11 season, averaging 9 points and 4 rebounds per game, while making close to 62 percent of his field goal attempts. He averaged 10 points per game in the playoffs including a 28-point effort in game 4 of the Rockets series against Oklahoma City. He made all 12 of his shots from the field.
Nene’s season ended early after he tore his left abductor during game 4 of the Western Conference Semifinals. He was able to avoid surgery and told reporters after the Rockets were eliminated that he hoped to return.
“This place was a blast for me,” he said on May 12. “They brought the young Nene back.”