Houston Rockets General Manager Daryl Morey announced today that the team has signed guard Ishmael Smith to a multi-year deal.

Smith (6-0, 175, Wake Forest) led the Rockets in assists per game during the 2010 NBA Summer League, finishing with averages of 7.8 points (.581 18-31 FG) and 4.8 assists in five games (five starts) with Houston.

An undrafted rookie, Smith finished his four-year career at Wake Forest with averages of 9.2 points (.425, 458-1078 FG), 5.1 assists, 3.7 rebounds and 1.26 steals in 121 games (91 starts). Smith, who finished second all-time at Wake Forest in assists, stands as the only player in school history with 1,000 points (1,114) and 600 assists (612) in a career. He was also the first Deacon with at least 1,000 points, 500 assists and 400 rebounds (448). A three-year team captain, Smith also ranked sixth in career minutes played (3,667), eighth in career steals (153), 18th in career games played (121) and 36th in career points. He actually started for the Deacons as a freshman, sophomore and senior. An injury to start his junior year pushed him to a reserve role, but he still excelled as the team’s sixth man.

Smith started all 31 games at point guard as a senior, averaging 13.2 points, 6.0 assists, 4.9 rebounds and 1.68 steals. He was named Second-Team All-ACC and earned Second-Team All-District honors from the NABC. Smith also received the team’s Murray Greason Award and Team Assists Leader award after finishing third in the ACC and seventh nationally in assists per game in 2009-10. He surpassed Chris Paul in career assists during his junior season and was just the fifth freshman in the history of the ACC to lead the league in assists (6.0 apg).

Smith will wear #13 with the Rockets.

NBA free agent Kwame Brown has reportedly found a new home.

According to ESPN’s Marc Stein, the center has agreed to a one-year, minimum-salary deal with the Charlotte Bobcats.

Michael Jordan, who recently purchased the Bobcats, drafted Brown as the #1 overall pick into the NBA back when Jordan was an executive on the Washington Wizards. Brown turned out to just be a bench player, however, and has had little impact in the league thus far.

For his career, Brown averages 6.7 points and 5.4 rebounds in 22.0 minutes per game.

The AP reports:

Spain point guard Jose Manuel Calderon will miss the basketball world championships after hurting his leg in an exhibition against the United States.

Tests Monday revealed the Toronto Raptors player tore a muscle in his left leg in Sunday’s 86-85 loss. Calderon had headed to the locker room late in the game. He went scoreless with three assists.

The Spanish federation says Calderon needs four weeks to recover.