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The Houston Rockets came out empty handed after clearing cap space for Miami Heat's Chris Bosh and trading Jeremy Lin to the Los Angeles Lakers.

The Rockets had made a four-year, US$88 million offer to Bosh, sending away Lin, who has a year left on his contract, and a future first-round draft pick, to the Lakers, according to ESPN.

But Bosh decided to return to Miami with a five-year max deal worth US$118 million.

The Lakers agreed to the trade since Lin's contract will still allow them enough cap space to entice big ticket free agents such as Carmelo Anthony and Kevin Love. The Lin trade comes with a bonus in a first-round draft pick.

The Lakers traded their future draft picks when they acquired Steve Nash and Dwight Howard years back. The team is reportedly pursuing Anthony, who jumped into free agency despite changes in the New York Knicks's front office led by multi-titled coach Phil Jackson, who was brought in as president in March.

Lin came out of Harvard University. He joined the 2010 National Basketball Association (NBA) Draft but was never selected by any team. He then joined the NBA Summer League and after five games, he got offers from the Dallas Mavericks, the Los Angeles Lakers and the Golden State Warriors.

Lin chose to play for the Golden State Warriors, a team he looks up to while growing up, for a two-year deal with a team option for the second year.

During the off season of the NBA in 2011, Lin played a few games for the Dongguan Leopards in the Chinese Basketball Association (CBA) in Guangzhou, China where he was named the tournament's Most Valuable Player. He was courted the Shanghai Sharks and former NBA player Yao Ming to play for the CBA but Lin said that he is still under contract with the Warriors.

The New York Knicks acquired Lin as a back-up for an injured Iman Shumpert in December of 2011 but was encouraged to look for other offers. He was then offered by the Houston Rockets to a four-year contract worth US$28.8 million with the fourth year being the team's option.

Tagschris bosh, Jeremy Lin