Updated

The Los Angeles Lakers have dealt veteran forward and reigning Sixth Man of the Year Lamar Odom to the Dallas Mavericks.

The Lakers also sent a 2012 second-round pick to Dallas, which parted ways with their first rounder next year. Los Angeles received a trade exception in the transaction.

"Lamar was a fine player for us in his seven years with the Lakers and was a key to helping us win two championships," said Lakers general manager Mitch Kupchak. "In addition, he always conducted himself with class and professionalism and we wish him well in the remainder of his career."

Odom, 32, averaged 14.4 points and 8.7 rebounds over 82 games last season and hasn't missed a contest over the last two campaigns. He was due $8.9 million this season and had a team option of $8.2 million for 2012-13.

Odom was acquired by Los Angeles in a 2004 trade that sent future Hall-of- Famer Shaquille O'Neal to the Heat.

The Lakers reportedly had another blockbuster in place last week with Odom involved, but NBA commissioner David Stern nixed a three-team trade that would have sent All-Star point guard Chris Paul to LA.