Lamar Odom and the Mavericks have agreed to sever ties for the remainder of the season.

"The Mavericks and I have mutually agreed that it's in the best interest of both parties for me to step away from the team," Odom said in a statement to ESPN.com. 

"I'm sorry that things didn't work out better for both of us, but I wish the Mavs' organization, my teammates and Dallas fans nothing but continued success in the defense of their championship."

Sources say Dallas will list him as inactive for the remainder of the season and could trade him around draft time.

Any team that has Odom on its roster as of June 29 must buy him out by that date for $2.4 million or otherwise accept responsibility for the full $8.2 million that Odom is scheduled to earn in 2012-13.