Rasual Butler’s cap number was $4,045,000, but $100,000 of that was a bonus/incentive for “team achievements.” The Hornets, in turn, get that $4.045M as a trade exception.

The Clippers, meanwhile, absorb Butler using $3,945,000 of their $7.3M trade exception from the Randolph-Richardson deal. They don’t have to account for the $100,000 bonus/incentive in their cap number.

That leaves the Clips with a $3,355,000 trade exception.

For all practical purposes, the Clippers have now effectively moved Zach Randolph for Craig Smith, Mark Madsen, Sebastian Telfair, Rasual Butler, and a $3,355,000 trade exception.

Although the possibility of signing Sessions is still out there, the trade that netted the Clippers Sebastian Telfair, Craig Smith and Mark Madsen should bring some sense of finality to a surprisingly wild offseason. Yes, there are still a few holes that could stand to be filled, but as a whole the Clippers arguably improved themselves more than any other team this offseason. The way Dunleavy brilliantly flipped Zach Randolph for a valuable 7 million dollar trade exception and two talented young players in Craig Smith and Sebastian Telfair should have him considering a career in real estate once he’s done with this basketball thing. No matter how you feel about Dunleavy, you have to hand it to him for swinging a few great deals that actually puts the franchise in much better shape than it was around this time last year.  More...

“Done,” according to Mike Dunleavy, as of a little after 3:30 p.m. PT.

From the Memphis Commercial Appeal:

Although neither team has reneged, an agreed-upon trade between Memphis and the Los Angeles Clippers that would put power forward Zach Randolph in a Grizzlies uniform wasn’t made official Wednesday for several reasons ranging from accounting to player physicals…

It could take up to five more days before the Randolph-for-Richardson swap is announced, mainly because the Griz are looking to consummate another trade scenario first.

As the NBA lifted a moratorium on transactions Wednesday, Memphis was among a few teams considering a three-way deal with Dallas and Toronto.  More...

Those guided by superstition have traditionally characterized the Clippers’ misfortunes as preordained — as if management, a willingness to invest, talent evaluation, and coaching had nothing to do with a team’s performance during its first 25 years in Los Angeles. But even hard-boiled empiricists would have to concede this morning that the Clippers have been blessed over the past month and a half. A cursed franchise doesn’t typically defy probability and land the top pick in a one-player draft, or find a willing sucker to take on their most toxic asset a full week before the moratorium when such a trade can be consummated.  More...