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A simple problem with a simple solution. Odom has worn out his welcome in record time in Dallas, while Diaw has done similar work in his fourth year in Charlotte. For the Mavs, this at least brings in somebody with a pulse for the playoffs, and Diaw is especially helpful since he can take shifts at center with Dirk at the 4. Also, Diaw's adorable little habit of passing up open layups to kick out to jump shooters won't be as problematic in Dallas as it would in, oh, say, Charlotte.
As for Odom, the cash in the deal allows Charlotte to pay his buyout and removes $2 million from the Mavs' salary-cap tab next summer when they go free-agent shopping. For their trouble, the Bobcats pocket whatever they can from Odom's buyout amount for the rest of the season. The only lingering problem would be Dallas wanting a handshake agreement that Odom would go someplace in the East (i.e., New York) once he's bought out and not haunt them in the Western Conference playoffs.