The three-way trade that would have had the Houston Rockets receiving Pau Gasol from the Lakers while sending Kevin Martin and Luis Scola to the New Orleans Hornets with the Lakers getting Chris Paul. Once the trade was announced there was immediate pressure from other NBA owners to have this trade cancelled, and the NBA did step in to nix the deal.
Houston wanted to make this trade to build around Gasol and Kyle Lowry, but now that the trade is off Houston will have to go in a different direction. Now it means that the Rockets are back in play to retain Chuck Hayes who was thought to be gone to the Sacramento Kings who was a four-year $20 million offer on the table.
Over at The Dream Shake they are very upset over David Stern canceling this trade:
So David, there are few words that can describe the idiocy that you have just perpetuated against the Rockets, the Lakers, and the Hornets. Those three teams found a deal that suited each of their needs, agreed to it, and were ready to submit it tomorrow morning. No, David Stern had to cave to the owners one more time this year.
If Stern doesn't have the guts to say that this deal is a fair deal and one that is completely permitted under NBA rules, then he shouldn't be in that commissioner's chair.
[...]
I tolerated Stern's shtick while he was negotiating the CBA because I knew that he was in a tough position, but this is the final straw. David, it's time to say goodbye.
For more Rockets trade news check out The Dream Shake, and for everything NBA visit SB Nation's NBA news hub.