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New Orleans Pelicans big man Donatas Motiejunas is reportedly nearing a settlement with the Houston Rockets and the NBA following a contractual dispute with his former employer.

According to Sporting News' Sean Deveney, Motiejunas is "in the midst of an arbitration action against the Rockets and the NBA that is close to wrapping up" after the 26-year-old engaged in a drawn-out process in restricted free agency that resulted in his losing millions of dollars.

A restricted free agent last summer, Motiejunas lingered on the open market until December—when the Brooklyn Nets signed him to a four-year, $37 million offer sheet.

The Rockets proceeded to match that offer, but there was a catch. According to Deveney, "Houston stripped out some of the Nets' incentive bonuses, making the contract worth $31 million, and the dispute grew from there."

Motiejunas eventually reported to Houston for a physical examination after the two sides worked through some issues and found financial middle ground, but the Rockets later renounced his rights and made him an unrestricted free agent.

Motiejunas then inked a one-year deal with the New Orleans Pelicans in January, but the contract was worth the veteran's minimum.

The 2011 first-round pick is scheduled to become an unrestricted free agent again July 1 after he averaged 4.4 points and 3.0 rebounds in 34 games last season.