"The Los Angeles Clippers claimed Chauncey Billups off amnesty waivers, just hours after they backed out of trade talks with the NBA for New Orleans Hornets guard Chris Paul, league sources told Yahoo! Sports.

Billups, 35, gives the young Clippers another veteran leader. The team also signed forward Caron Butler to a three-year, $24 million contract in free agency.

The New York Knicks had used their amnesty clause on Billups to clear salary-cap room to acquire Dallas Mavericks center Tyson Chandler. Under terms of the league's amnesty police, any team under the salary cap can put bid on Billups. The bid will offset part of the $14.2 million the Knicks owe Billups in the final year of his contract."