John Lopez of the Houston Chronicle writes that Hakeem Olajuwon and his agent, Dan Fegan, were less than pleased with the Rockets' latest offer of $13 million over three years.  And so, he writes, Houston had better brace for losing their icon, because the Rockets need to make a sound business decision as much as Olajuwon does.  It is more important that they stay with the youth movement and bring back Taylor, Anderson, and Norris.

According to Peter Vecsey and Evan Grossman of the New York Post, the Rockets and Raptors were ready to make a trade. Hakeem Olajuwon for a future 1st round pick. Then Olajuwon hit the brakes.

The Pacers had a deal in place that would have sent Austin Croshere to Boston, Vitaly Potapenko to Houston and Olajuwon to Indiana. Sam Perkins and his non-guaranteed contract may have been involved as well.

In Knick news, New York remains desperate to acquire a point guard. In addition to Charlie Ward, the Knicks are willing to part with Othella Harrington as well.

Clutchcity reports that the Rockets have added a third year and $2 million to their offer to Olajuwon.  Now on the table for the Dream is a 3-year contract for $13 million, with $10 million of it guaranteed.

According to the Houston Chronicle's Jonathan Feigen, this is the largest offer on the table for Olajuwon, though any team with the mid-level exception could easily surpass it with a 3-year deal.

Michael Murphy writes for The Sporting News that negotiations with Olajuwon have held up all the Rockets' signings.  Fortunately, it seems all their free agents are content to wait.  Shandon Anderson, he says, is a great fit for the team and will be starting at small forward next year.

Darkhorse of Clutchcity had a brief interview with rookie Eddie Griffin.  Griffin seems to be unclear what his role will be next season, except that he'll spend most of his time (however much that is) at power forward, not small forward.  RealGM must wonder, what does this mean for Mo Taylor?

The Utah Jazz haven't totally given up on acquiring Hakeem Olajuwon from the Houston Rockets.  The Deseret News reports that the Jazz still have some hopes but they realize a sign and trade with the Rockets is not likely.  With Houston needing the cap room for signing Mo Taylor and Shandon Anderson there does not appear to be much wriggle room. "If they go under the cap, they have to renounce (their rights to Olajuwon, negating the sign-and-trade possibility)," said Kevin O'Connor of the Jazz. "If they stay over the cap, they can't give the other guys (the money they want)."

In other Utah news, Danny Manning may still be on the Jazz radar screen and their new Russian sensation, Andrei Kirilenko will play for his country's national team in September.

Brian McTaggert of the Houston Chronicle reports that GM Carroll Dawson and Olajuwon's agent, Dan Fegan, had a good meeting, though nothing has been resolved.  They will meet again today.

Should the Knicks and Rockets ever get into serious trade discussions over Hakeem Olajuwon, the Rockets may take a long look at Glen Rice, according to the New York Post.

Houston apparently would have little interest in Othella Harrington and Charlie Ward, citing depth at those positions. But a deal for Rice, who will make $8.8 million this coming season, seems to be the best way to pay Olajuwon what he is asking.

Brian McTaggert of the Houston Chronicle reports that GM Carroll Dawson will be meeting with Olajuwon's agent, Dan Fegan, today to see if an agreement can be reached.  Owner Les Alexander has gotten involved as well.  Dawson said they haven't considered a sign-and-trade yet and have not given any ultimatums, though he seems willing to do so if it comes to that point.