Free agent forward Gerald Green has agreed to a one-year, $2.4 million deal with the Houston Rockets, according to Shams Charania of Yahoo Sports.

The Rockets quickly lost their starting small forward Trevor Ariza, who agreed to a one-year, $15 million deal with the Phoenix Suns during the first hours of free agency.

This saves the Rockets a whole lot of cash, having signed MVP James Harden to a supermax extension last year, and agreed to a four-year, $160 million deal, as the front office compromised to keep their initial promise.

Houston is now chest-deep into the luxury tax and likely will be a repeater team in the near future, as the salaries of Paul, Harden, Ryan Anderson, and perhaps Clint Capela come to a clash.

The ownership will likely have to swallow the same poison pill they once used to pry Harden away from the Oklahoma City Thunder years ago, having to pay those precious luxury dollars in order to salvage their core.

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The Rockets now find themselves in the same position than most other competing teams — pay up or shut up — as teams like the Golden State Warriors, Boston Celtics, and Thunder will have to shell out bundles of extra cash in order to compete in a fierce Western Conference.

Green was a key contributor after being signed midway through the season, putting up 12.1 points and 3.2 rebounds per game. He’s not the defender Ariza has been throughout his career, but should provide the same shooting threat from the outside as the likely starter at small forward.