Rockets to decline option on Parsons

The Houston Rockets plan to decline the fourth-year option on forward Chandler Parsons' contract, freeing him to become a restricted free agent this summer.

The Rockets hold a $960,000 option on the fourth and final year of Parsons' contract for the 2014-'15 season, but want to avoid letting Parsons, 25, become an unrestricted free agent next summer. As a restricted free agent in July, the Rockets can match an offer sheet and retain Parsons on a long-term contract.

The Rockets have until June 30 to formally decline the option.