Update: Lakers Paul-Odom-Gasol trade killed by NBA, say sources

New Orleans Hornets v Los Angeles Lakers - Game Two

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File: Chris Paul #3 of the New Orleans Hornets drives on Pau Gasol #16 of the Los Angeles Lakers in Game Two of the Western Conference Quarterfinals in the 2011 NBA Playoffs on April 20, 2011 at Staples Center in Los Angeles, California.

A person familiar with the negotiations says the framework of a three-team trade is in place to send Hornets All-Star guard Chris Paul to the Los Angeles Lakers. Updated: Yahoo! Sports says deal is off.

Update: Sources are now claiming that the deal is off according to ESPN.com and Yahoo! Sports

Original story below.

There are multiple reports that the Los Angeles Lakers pulled off a huge trade today, agreeing to acquire All-Star guard Chris Paul from New Orleans in exchange for Pau Gasol and Lamar Odom.

The deal has been described as "a move that symbolizes a shift from finesse, precision and depth in the Lakers' frontcourt to speed and athleticism in their backcourt."

Details of the trade are still being worked out, but it is thought that a third player could become involved. (The L.A. Times has speculated it could be New Orleans center-forward Emeka Okafor.

Paul can opt out of his current contract with New Orleans after this season, and the Hornets have been fielding trade offers in an effort to acquire new players for the star guard rather than letting him walk in free agency.

Gasol and Odom played important roles in the Lakers’ recent championship seasons. But the 31-year-old Gasol was often criticized for not being aggressive enough and the 32-year-old Odom was inconsistent.

Paul averaged 15.8 points and 9.8 assists last season.

This story has been updated.

With contributions by The Associated Press, Mike Roe, and Paige Osburn

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