An LA based rumor that's flying around right now is that Mo Williams of the Los Angeles Clippers wants to join the city's other team, the Lakers.
Williams currently has an $8.5 million player option with the Clippers and he has until the 30th to exercise it. The Lakers would be able to absorb the contract into the trade exception they got when they traded away Lamar Odom. It's not clear what the Lakers would give up or if they are entertaining the idea.
This is not the Lakers best option, but it is an option they'll look at. Williams averaged 13 points in 28 minutes last season. This is more than Blake, who is the Lakers only point guard right now. However, Williams is well past his prime at 35 years old. The good news is that he'd have only a one year contract with the Lakers so they wouldn't be looking at signing a guy long-term who won't be in the NBA much longer. Also, his contract won't go towards the salary cap since it will fit in the trade exception.
The Lakers have to make some kind of move at the point guard position, and this would be a good way to do it if nothing better comes along before the NBA draft tomorrow.