"The Los Angeles Lakers abruptly withdrew from the Chris Paul sweepstakes Saturday night after more than 24 hours of unsuccessful attempts to restructure a three-team deal with the New Orleans Hornets and Houston Rockets that would meet with the approval of NBA commissioner David Stern, according to sources close to the process.

The Lakers informed the league-owned Hornets and the Rockets they were pulling out of the stonewalled deal, sources said, and instead trading Lamar Odom to the Dallas Mavericks. Dallas is able to accommodate Odom's $8.9 million salary without surrendering any prized assets thanks to a new trade exception created through the Mavericks' three-team deal with New York and Washington earlier Saturday that landed Tyson Chandler with the Knicks.

Sources said the Lakers, in return for shedding the unhappy Odom's salary and sending him to a team one source close to the situation said he's "excited" to join, will receive Dallas' 2012 first-round pick and possibly additional draft considerations."