The Houston Rockets will send Jeremy Lin and future first-round pick to the Los Angeles Lakers, multiple reports confirmed on Friday.

According to Adrian Wojnarowski of Yahoo Sports, the Lakers agreed to absorb Lin's lucrative contract in order to get Houston's first-round pick in the 2015 NBA Draft. Houston will reportedly get the rights to an international player along with cash considerations.

Lin, who has been on trading block over the past several weeks, is set to earn $14.9 million next season with a cap hit of $8.37 million. The Lakers agreed to acquire Lin's expiring deal to get another future asset that could be a factor in their rebuilding efforts.

The deal was agreed upon after reports came out that free-agent superstar Carmelo Anthony took the Lakers out from his list of possible destinations this summer.

The Lakers met with Anthony last week and reportedly made a maximum four-year offer, but Los Angeles failed in their bid to acquire the seven-time All-Star, who is reportedly considering signing with the Chicago Bulls or returning to the New York Knicks.

On the other hand, the Rockets traded Lin to the Lakers as part of their plan to create cap space for maximum contract that they are planning to offer to Chris Bosh.

Bosh, who is an unrestricted free agent after opting out of the final year of his contract with the Miami Heat, reportedly received a four-year, $88 million offer from the Rockets.

The All-Star power forward, who averaged 16.2 points to go along with 6.6 rebounds per game with the Heat last season, is expected to accept the Rockets' offer anytime soon after former teammate LeBron James decided to return to the Cleveland Cavaliers.

The Rockets have been aggressively shopping Lin with previous reports indicating that the Philadelphia 76ers also expressed interest in acquiring the 25-year-old point guard depending on the future assets the Rockets are willing to include in the trade package.

The Rockets are intensifying their pursuit of Bosh as they are also planning to match the Dallas Mavericks' offer sheet to Chandler Parsons, who reportedly agreed to a three-year, $46 million deal with the Mavs.

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