Source: Cavs tried to work a sign-and-trade for Lowry before the offer sheet, but the Rockets said no.
LAS VEGAS - The Cavaliers' flirtation with Kyle Lowry was short-lived.
Houston Rockets general manager Daryl Morey announced via his Twitter feed today that the Rockets would be matching the four-year, $24 million offer the Cavs signed Lowry to on Tuesday night.
Houston had a week to consider matching the offer but barely took 12 hours, backing up their statements over the last several weeks that they'd match reasonable offers for the quick guard.
"We plan to match the agreement, and we are excited he will be returning to the Rockets," Morey wrote on Twitter.
According to a source, the Cavs attempted to work out a sign-and-trade offer for Lowry before presenting the offer sheet, but the Rockets declined to take part.
The Cavs will retain full use of their mid-level exception of $5.7 million to chase other free agents. They have been in trade talks with various guards, looking for a quick ball-handler in a new up-tempo offense.
Lowry, 24, averaged 9.1 points and 4.5 assists as a backup for the Rockets last season.