The Los Angeles Clippers acquired Lamar Odom from the Dallas Mavericks as part of a four-team trade also involving the Utah Jazz and Houston Rockets. 

The Clippers sent point guard Mo Williams to the Jazz and the draft rights to Furkan Aldemir, the Clippers’ second round selection (53rd overall) in the 2012 NBA Draft to Houston while the Jazz conveyed the draft rights of Tadija Dragicevic, Utah’s second round pick (53rd overall) in the 2008 NBA Draft to Dallas. 

To complete the trade, Dallas sent the draft rights of Shan Foster, the Mavericks’ second round selection (51st overall) in the 2008 NBA Draft to the Jazz with Houston sending cash considerations to Dallas.  

The NBA announced that it has reached a settlement agreement with the NBA Players Association of the recent arbitration proceeding filed on behalf of Chauncey Billups, J.J. Hickson, Jeremy Lin and Steve Novak.

Under the settlement, the union agreed to limit the scope of the ruling by arbitrator Kenneth Dam in exchange for the league's agreement to drop its appeal. The rule will now be that players who are claimed from waivers will have the same "Early Bird" rights as if they had been traded, but will not have full "Bird" rights unless they are claimed through the league's amnesty procedure.

Below are the players on whose behalf the arbitration proceeding was brought and their status when free agency opens on July 1:

Chauncey Billups - Bird
J.J. Hickson - Bird
Jeremy Lin - Early Bird 
Steve Novak - Early Bird 

Mo Williams has decided to pick up his player option for the 12-13 season and accept a trade to the Jazz, according to a source.

The Jazz, Clippers and Mavericks had agreed upon a three-team trade to send Williams to Utah, Lamar Odom to Los Angeles with Dallas acquire cap savings.

Mo Williams has not expressed a willingness to join the Jazz, according to a source with direct knowledge of the situation.

A three-team deal between the Mavericks, Clippers and Jazz that would send Lamar Odom to Los Angeles is contingent on Williams exercising his $8.5 million player option to join Utah.

Williams averaged 13.2 points and 3.1 assists in 28.3 minutes last season for the Clippers.

Negotiations are ongoing but two sources briefed on the talks tell the New York Times that the NBA and players union are moving closer to an agreement that would resolve the dispute between the two sides over whether any Bird rights would remain attached to players claimed off waivers.

An arbitrator ruled in the union's favor and the league office announced its intention to appeal the ruling, which would create uncertainty just when teams are set to begin contract discussions with the affected players.

A settlement would likely grant some form of Bird rights to players claimed off waivers.  An agreement could be announced Friday but no later than Sunday at midnight when free agency officially opens.

The matter is particularly important to the Knicks who could be granted new exceptions to sign Jeremy Lin and Steve Novak.  Chauncey Billups and J.J. Hickson are also impacted by the rule.

"They're not going into free agency with this out there," said one person with knowledge of the negotiations.

The Jazz have been identified as a potential third team in ongoing trade discussions involving Lamar Odom and Mo Williams, according to sources.

Utah is willing to acquire Williams as part of a trade that would send Odom to the Clippers.

The trade cannot be completed unless Williams agrees to invoke his $8.5 million player option for 12-13.

The Jazz can use a traded player exception created when they sent Mehmet Okur to the Nets.

Dallas is looking to create cap space by shedding Odom.

The Lakers are interested in trading for Mo Williams, according to sources.

The Clippers are discussing a trade with the Mavericks for Lamar Odom, but Dallas is uninterested in taking on salary.

Williams played for Mike Brown while both were with the Cavaliers.

The Clippers have been in trade talks with the Mavericks about acquiring Lamar Odom, according to sources.

A deal could depend on the willingness of a third team to take on the contract of Mo Williams, which would allow Dallas to preserve cap space.

The Mavericks have also been discussing pushing back Friday's deadline to buyout the final season of Odom's contract for $2.4 million with his agent Jeff Schwartz.

Mo Williams has maintained all season that he plans to exercise his $8.5 million player option for the 2012-13 season.

The Lakers, according to sources, have expressed interest in Williams and have a trade exception that was acquired from Dallas for Odom.

MSG has purchased the Forum of Inglewood with a plan to renovate the arena to challenge AEG's Staples Center for concerts.

The Lakers and NHL's Kings played at the Forum until 1999.

MSG will begin work this year on a $50 million renovation.

"The addition of the Forum is a perfect complement to the Madison Square Garden arena — it now allows us to have world-class venues in both New York and Los Angeles, linking the top two entertainment markets in the country," said MGS president Hank Ratner.

Chris Paul believes the Clippers would have won the NBA championship if Chauncey Billups hadn’t torn his left Achilles on Feb. 7.

“I tell people all the time had Chauncey not got injured we was going to win the championship,” Paul said.

Paul called playing alongside Billups last season “the best thing ever.”

“He knows my top priority right now is to make sure he’s back with us again next season,” said Paul, a special guest today at Billups’ annual basketball camp.

“That was the best backcourt mate I played with since I’ve been in the NBA. He just gave me so much confidence and made things so much easier for me. So I need him back and want him back with the Clippers.”