It will be a one-year minimum contract, according to Jonathan Feigen of the Houston Chronicle.
Sefolosha has several links to the Rockets' current roster. After debuting with the Chicago Bulls in 2006, the former 13th overall pick was traded to the Oklahoma City Thunder midway through his third season. While there, he teamed up with stars Russell Westbrook and James Harden, who are both now in Houston. Sefolosha's also just one of two Swiss players in the NBA, with the other being Rockets center Clint Capela.
Sefolosha was one name in a list of players who were reportedly attending the Rockets' mini training camp in Las Vegas this week.
The 35-year-old is entering his 14th NBA campaign. He spent the last two seasons with the Utah Jazz and averaged 5.7 points and 3.2 rebounds over that span. Prior to Utah, he played three seasons with the Atlanta Hawks after being traded by the Thunder.