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As first reported by ClutchFans on Thursday, the Rockets did indeed file trade paperwork with the league office before Thursday's 2pm deadline -- only the details would later confirm how low the trade value of Derek Anderson had fallen.
The Rockets sent the disgruntled guard to Miami for guard Gerald Fitch.
Fitch makes the league minimum, so the trade did not work for cap purposes. The Rockets sent Anderson to Miami for their trade exception, and in turn traded for Fitch for a small part of the Rockets trade exception.
Confusing? Well, in the end, the Rockets ended up with a $1.9 million trade exception from the deal.
The 6-foot-3, 190 pound Fitch is young (23 years old) and has good quickness and will likely be used to spell Rafer Alston for 10 minutes a game.
Out of Kentucky, Fitch is also very familiar with current Rockets Keith Bogans and Chuck Hayes -- both of which he played with at UK.
As for Anderson, it's the end of a very short, very disappointing run in Houston. The Rockets signed him in the offseason to a deal that was widely considered a steal, and a few short months later the Rockets were trying to find someone to relieve them of his contract.
That's how far his stock had fallen.
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