First Round Pick

The Lakers have reached an agreement in principle to acquire Chris Paul from the Hornets while giving up Pau Gasol and Lamar Odom.

The Rockets will also be involved, with Kevin Martin, Luis Scola and Goran Dragic going to the Hornets. New Orleans will also acquire a first round draft pick from the Knicks and Odom.

Gasol will go to Houston.

New Orleans is telling other teams that Paul will be dealt to the Lakers.

The Celtics, Warriors and Clippers were the other primary teams involved in trade talks with the Hornets for Paul.