The Houston Rockets and the Oklahoma City Thunder have negotiated an eight-player trade, according to reports.

The deal will see center Derrick Favors head to the Rockets, along with Ty Jerome, Theo Maledon, Moe Harkless and a 2025 second-round draft pick.

According to Adrian Wojnarowski of ESPN, the Thunder will in turn receive David Nwaba, Sterling Brown, Trey Burke and Marquese Chriss from Houston.

It would mean the Thunder will have dropped roughly $10million below the luxury tax threshold, and both teams will have 18 guaranteed contracts on their rosters, which need to be reduced to 15 by October 17.

OKC only acquired Harkless and the 2025 draft pick in a trade with the Atlanta Hawks for Vit Krejci earlier this week, presumably with this deal in mind.

Of the players traded, only Maledon and Nwaba are under contract for the 2023-24 season, both with team options.

The Rockets get their pre-season under way on Sunday with a game against the San Antonio Spurs, while the Thunder face the Denver Nuggets on Monday.