New Three-Team Deal For Paul Submitted?
While the details remain unclear, reports are surfacing suggesting that the New Orleans Hornets are seeking David Stern’s approval on a revised deal that would send Chris Paul to the LA Lakers.
Stern rejected a deal consummated earlier in the week that would have had the Lakers landing Paul while shedding several long term contracts. The Houston Rockets would have obtained Pau Gasol in the original deal with Houston’s’ Kevin Martin and Luis Scola heading to New Orleans along with Laker forward Lamar Odom and a Houston owned draft picks obtained from the New York Knicks.
Stern, who explained that the NBA’s purchase agreement with the Hornets last year put final approval for all major decisions in his hands, and that he rejected the initial deal because it did not return enough future value for the Hornets, who are up for sale.
League sources said the three-teams were told they could re-work the deal, but that any new proposal would need to bring in more youth and draft picks while limiting the long term exposure for the Hornets.
League source speculated that any revised proposal would have to include Emeka Okafor and his three years and $40 million remaining heading out and less long term money coming in.
The Lakers also hold a couple of promising young players such as Devin Ebanks and Derrick Caracter who will likely be added to the deal along with draft picks.
It’s likely, that if granted consent by David Stern, that a finalized deal could be submitted to the NBA for approval on Monday, with Paul landing in LA soon after the deal is accepted.