The four-team deal between the Jazz, Mavericks, Clippers and Rockets that sends Lamar Odom to the Clippers and Mo Williams to Utah has been finalized, according to a release by the Mavs.

The Mavericks will send Odom to the Clippers and the draft rights to Shan Foster, taken in the second round in 2008, to the Jazz.  The Jazz send the draft rights to Tadija Dragicevic, also a second-rounder from 2008, to the Mavericks. The Clippers send Mo Williams to the Jazz and Furkan Aldemir, the 53rd overall pick in last night's draft, to the Rockets. The Rockets send cash to the Mavericks. The Mavs will also inherit the trade exception the Jazz gained when they traded Mehmet Okur to the Nets in December, valued at $8.9MM. 

The deal brings an end to a turbulent year for Odom in Dallas, which acquired the former Sixth Man of the Year from the Lakers before the season began. Odom and the Mavs parted ways in April, when the the power forward was in the midst of his worst season, putting up career lows in points (6.6) and rebounds (4.2) per game as well as PER (9.2). The Mavs sent him away from the team but kept him on the roster in the hopes they could trade him rather than waive him and be on the hook for the $2.4MM guaranteed portion of his $8.2MM contract for next season. 

Marc Stein of ESPN.com initially reported interest in a deal between the Clippers and Mavs, and Stein and ESPN colleague Chad Ford added that the Jazz were involved in the discussions as well. Eddie Sefko of The Dallas Morning News first broke the news of an agreement between the Clippers, Mavs and Jazz. Brian T. Smith of The Salt Lake Tribune had word that Mo Williams agreed to pick up his $8.5MM option for next season, clearing the way for the deal. Broderick Turner of the Los Angeles Times reported the Rockets' involvement. 

FRIDAY, 6:17pm: The deal, which could become official later today, will also involve the Rockets, who'll receive Furkan Aldemir, taken 53rd by the Clippers in Thursday's draft, writes Broderick Turner of the Los Angeles Times. The Rockets will send cash to the Mavs, tweets fellow Los Angeles Times writer Brad Turner.

FRIDAY, 5:32pm: The Mavericks and Odom have agreed to extend the deadline to fully guarantee Odom's contract by one day, until tomorrow, so that the trade can be finalized, according to Marc Stein of ESPN.com. Ken Berger of CBSSports.com says "only paperwork" is left to be done before the deal is official (Twitter links).  

4:43pm: Williams has agreed to join the Jazz, a source tells Brian T. Smith of The Salt Lake Tribune (via Twitter).

12:22am: Even with the tentative agreement in place, this deal could fall apart within the next couple days, according to Brian T. Smith of the Salt Lake Tribune. With details of the negotiations becoming public, the Jazz are "backing off somewhat," trying to avoid a game between teams and agents (Twitter links). While the swap still could happen, Utah has other options it could explore, and may choose to leave the deal behind should it continue to publicly unravel (Twitter link).

THURSDAY, 7:54pm: Jazz GM Kevin O'Connor told Spencer Checketts of 1280 The Zone in Utah that the deal has too many moving parts and "isn't close to being done" (Twitter link). Broderick Turner of the Los Angeles Times also reports that nothing is official yet, though a deal could be reached by Saturday.

6:59pm: According to Brian T. Smith of the Salt Lake Tribune (Sulia link), Williams still hasn't make a final decision on his future.

6:50pm: Williams has decided to accept the trade to the Jazz, a source tells Ramona Shelburne of ESPNLosAngeles.com. Assuming Williams officially picks up his player option, this trade remains on track to be completed by tomorrow, says Shelburne.

3:28pm: The Mavericks, Clippers and Jazz have reached an agreement on a deal that would send Lamar Odom to the Clippers and Mo Williams to the Jazz, Eddie Sefko of the Dallas Morning News reports. The deal hinges on Williams' willingness to pick up his $8.5MM option for 2012/13, so nothing is official yet.

Earlier today ESPN.com's Chad Ford and Marc Stein reported the Jazz had entered discussions. Previously, the Mavs and Clippers were looking for a third team to take on Williams' contract, as the Mavs want to free as much cap space as possible. 

In the proposed deal, the Jazz would use their $10.89MM trade exception, which stems from the team's trade of Mehmet Okur to the Nets in December, to take on Odom's salary. The Mavs would then gain a trade exception worth Odom's $8.9MM salary.

The Mavs have been trying to get rid of Odom before Friday, when his $8.2MM salary becomes fully guaranteed.  Williams is open to the idea of exercising his option, but "is exploring all options," tweets Ken Berger of CBSSports.com. 

Zach Links contributed to this post.

Well, we're here. After weeks of following draft rumors and speculating on which player will be picked by which team, we're just hours away from the 2012 draft. Before things get underway tonight though, we're sure to hear plenty more draft rumors, so be sure to follow this page for the latest updates throughout the day. And to fully immerse yourself in tonight's draft, you can also check out our most recent mock draft, the complete draft order, our Prospect Profiles series, and all the rest of our draft content. Here are today's updates, with the latest up top:

• The Kings and Warriors will make decisions on whether to trade their picks while they're on the clock, Adrian Wojnarowski of Yahoo! Sports says (Twitter link). 
• It's highly unlikely the Grizzlies use the 25th pick on a point guard, the Memphis Commercial Appeal tweets. 
• The Grizzlies, Rockets and Celtics are all interested in Royce White, says Jon Rothstein of CBSSports.com (Twitter link). The Warriors may trade up from No. 30 to land him, Rothstein also tweets.
• The Bobcats are "getting closer" to trading the No. 2 pick, tweets ESPN.com's Andy Katz (hat tip to Tom Ziller of SBNation).

Earlier updates:

• Rick Bonnell of the Charlotte Observer tweets the Rockets aren't as close to a deal with the Kings for the fifth pick as an earlier report suggested (see below). Sam Amick of SI.com agrees, as has the Kings taking Harrison Barnes at No. 5 in his latest mock. 
• The Warriors will likely keep the No. 7 pick after talks with the Rockets broke down, says Alex Kennedy of HoopsWorld, via Twitter.
• Part of the reason the Celtics are trying to move up into the lottery is because they'd like to draft Austin Rivers, son of coach Doc Rivers, Sam Amick of SI.com reports (Sulia link). Chad Ford and Marc Stein of ESPN.com say the team is pessimistic about its chances to get Rivers (Twitter link).
• If the Warriors trade down to No. 12 or lower, the team would consider Moe Harkless, tweets Tim Kawakami of the Bay Area News Group. 
• Thomas Robinson appears to be the preferred target of the Kings, who will wait as long as possible to decide whether to trade the No. 5 pick, Marc Stein and Chad Ford of ESPN.com report. If they do trade it, the Rockets are "in position" to acquire that pick, the report says. Stein and Ford suggest that means the Kings are in line to get even more thanKyle Lowry and a package of first-rounders if the deal is done. 
• Tim Kawakami of the Bay Area News Group hears the Warriors will take Dion Waiters at No. 7 if he's there. 
• Terry Pluto of the Cleveland Plain Dealer passes on the latest on the Cavs' interest in Waiters and more from around the draft. 
• Chad Ford of ESPN.com (Insider link) and Joe Kotoch of SheridanHoops.com have updated their mock drafts, both of which cover all 60 picks.
• The Warriors are leaning away from Andre Drummond, writes Tim Kawakami of the Bay Area News Group.
• The Blazers appear to be holding on to the sixth and 11th picks for now, tweets Scott Howard-Cooper of NBA.com.
• Grizzlies owner Michael Heisley is in the process of selling the team, and he would also like to trade the team's first-round pick, at No. 25, according to the Memphis Commercial Appeal's Twitter account. The team's execs, however, like Royce White and John Jenkins.
• There is a "growing expectation" the Bobcats will swap the No. 2 pick, Chris Mannix of SI.com tweets.
• Teams drafting before pick No. 20 have little interest in Jared Sullinger, tweets Adrian Wojnarowski of Yahoo! Sports. Sullinger is "falling like a rock," says Mannix (Twitter link).
• Jason Jones of the Sacramento Bee looks at what the Kings can do to upgrade at small forward through the draft, and speculates via Twitter that the team could trade down to draft a player at another position and re-sign Terrence Williams.
• The Cavs are actively pursuing another lottery pick, says Jason Lloyd of the Akron Beacon Journal (Sulia link). Discussions with the Warriors for No. 7 have stalled, but the No. 12 pick, held by the Rockets, is in play. Lloyd speculates it will be tough to trade for a pick that high without including Anderson Varejao in the deal.  
• Jared Sullinger's stock was slipping even before word came out about the medical red flag on his back, tweets Scott Howard-Cooper of NBA.com. 
• Michael Cunningham of the Atlanta Journal-Constitution says the league's recent small ball trend doesn't mean prospects like Fab Melo and Festus Ezeli won't be highly valued.
• The Nets could bundle Johan Petro and $3MM in cash to try to acquire a second-round pick and clear cap space, according to NetsDaily.com via Twitter.
• Brian T. Smith of The Salt Lake Tribune tweets that the Blazers are eyeing Damian Lillard and Dion Waiters with the No. 6 pick, with a "hard lean" toward Lillard. Smith also says the Jazz still have hopes of moving into the lottery, and may be targeting a "draft-and-stash" international player in the second round (Sulia link).
• Chad Ford of ESPN.com unveils the site's final top 100 ranking before the draft (Insider only).
• Vin Parise of NBC Sports is hearing that the Bulls intend to draft Tyshawn Taylor at No. 29 (Twitter link).
• Besides liking Thomas Robinson at No. 5, the Kings are also high on Harrison Barnes,tweets Marc J. Spears of Yahoo! Sports.
• Sam Amick shares a number of draft tidbits in his latest piece for SI.com, including items onJared Sullinger, the Kings, and the Rockets.
• According to ESPN's Chad Ford, the Cavaliers have narrowed their choices at No. 4 toBradley Beal, Michael Kidd-Gilchrist, and Harrison Barnes. While the team has interest in Dion Waiters (as linked below), that interest doesn't extend to the fourth overall pick, says Ford.
• As for the Cavs' second-round picks, Adrian Wojnarowski of Yahoo! Sports says the team has "strong interest" in Turkish forward Furkan Aldemir (Twitter link). Aldemir doesn't have an NBA out clause until 2014.
• Temple center Michael Eric is drawing interest from teams in the second round, including the Warriors, Sixers, and Nuggets, tweets Alex Kennedy of HoopsWorld.
• The Kings won't decide whether or not to trade the No. 5 pick until they see who is available, tweets Marc J. Spears of Yahoo! Sports. According to Spears, the Kings loveThomas Robinson, so if he slips past the first four picks, Sacramento is unlikely to trade down.
• While Evan Fournier has long been considered the only international player that will go in the first round, interest in Greek forward Kostas Papanikolaou is intensifying. According to Adrian Wojnarowski of Yahoo! Sports, the Heat and Thunder are considering Papanikolaou with their late-first-round picks, and Al Iannazzone of Newsday says theKnicks could try to acquire another pick to draft him.
• Wojnarowski's piece also includes a few other updates, including the Bucks seriously considering Terrence Jones at No. 14, and Andrew Nicholson drawing interest from the Rockets and Nuggets.
• Perry Jones III may have a knee issue that's causing his slide down draft boards, reportsESPN.com's Chad Ford.
• The Bobcats have five "legit offers" for the second overall pick that they're considering, tweets TNT's David Aldridge.
• Rumblings that the Cavaliers are seriously considering Dion Waiters at No. 4 continue to gain momentum. According to Adrian Wojnarowski of Yahoo! Sports, the Cavs are losing interest in dealing with the Bobcats if taking Tyrus Thomas is a requirement in any trade, and are leaning toward Waiters if Bradley Beal and Michael Kidd-Gilchrist are off the board at No. 4.
• According to Wojnarowski, the Raptors are also looking into trading up for Waiters, and there's plenty of members of the Warriors' front office that like him a lot too.
• The Grizzlies have talked to a number of teams about trading the No. 25 pick, according toRonald Tillery of the Memphis Commercial Appeal. However, Tillery tweets that there's a major internal push for Memphis to select John Jenkins or Royce White.
• ESPN.com's Chad Ford (Insider link) has released version 10.0 of his 2012 mock draft. Ford also heard from Duke coach Mike Krzyzewski, who explained to the ESPN.com draft expert why he shouldn't be down on Austin Rivers.
• In a pair of tweets, Ford reports that the Pistons conducted a last-minute workout withAndre Drummond and that Detroit would likely take the big man if he slips to them at No. 9.
• Marc Berman of the New York Post has the details on the players the Knicks are eyeing with their second-round pick.

The NCAA underclassmen who have entered the NBA draft receive more attention and will make up a majority of the first round, but a number of international players have been making themselves eligible for the draft as well. Today's draft updates from Jonathon Givony of DraftExpress.com (via Twitter) focus on those international names....

• Turkish big man Furkan Aldemir, DraftExpress.com's 45th overall prospect, will make himself eligible for the draft.
• Serbian point guard Nemanja Nedovic will enter the draft. He ranks 59th among this year's top 100 prospects, according to DraftExpress.
• Spanish point guard Josep Franch will also declare for the draft. He doesn't crack DraftExpress.com's top 100 prospects, but ranks just a couple spots behind Aldemir and Nedovic on the site's top international 1991-born prospects.
• Turkish seven-footer Sertac Sanli, who ranks 19th among 1991-born international prospects on DraftExpress, will enter the draft as well.
• Back in the NCAA, North Texas freshman Tony Mitchell is still leaning toward entering the draft. DraftExpress.com's 26th-overall prospect has until Sunday to make a decision.