The Rockets will receive guard Toney Douglas, forward Josh Harrellson, center Jerome Jordan, second-round picks in 2014 and '15 and cash used to pay Douglas' salary from the Knicks. Camby will get a three-year, $13.2 million contract that contains a partial guarantee in the third season, sources said.
Camby had made it clear last week that he didn't want to re-sign with the Rockets and didn't like the direction in which the organization was going. Now, he has a good contract with a playoff-caliber team. He previously played for New York from 1998-2002.
Houston has not gotten out of the sweepstakes for Dwight Howard, continuing to acquire pieces and looking for a potential deal for the Orlando center.