Update 9:45pm: 

According to ESPN the Los Angeles Lakers trade to obtain New Orleans Hornets point guard Chris Paul for Pau Gasol and Lamar Odom has hit a snag.

Sources said that a group of NBA owners, assembled inNew Yorkfor the ratification of the league’s new labor pact with the players, protested vigorously that the league-owned Hornets were trading Paul to the star-studded Lakers and convinced NBA commissioner David Stern to intervene.

“The deal is off,” one source told ESPN.com.

Original Story:

The New Orleans Hornets, Los Angeles Lakers and Houston Rockets have reportedly worked out a blockbuster deal that will send All-Star point guard Chris Paul to the Lakers.

According to Yahoo! Sports the 3-team deal will send Chris Paul to Lakers, Pau Gasol to the Rockets and Lamar Odom, Kevin Martin, Luis Scola to the Hornets.

An All-Star and U.S. Olympic Team member Paul has averaged 37.1 minutes, 18.7 points and 9.9 assists a game in his six seasons.

Paul averaged 15.8 points and 9.8 assists last season.

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