Phillips signed a training camp contract with the Rockets on Friday, Paul Garcia of The Spot Up Shot reports.
Phillips will join the Rockets for training camp and compete for a spot on the club's regular-season roster. The 22-year-old forward was traded from the Bulls to the Timberwolves ahead of last season's trade deadline, though Minnesota declined its $2.41 million team option on his contract for 2026-27. Over 48 regular-season appearances (two starts) in 2025-26, he averaged 2.9 points in 8.9 minutes per showing.