Citing team and league sources, the Los Angeles Times and Washington Post report that the Lakers have agreed in principle to trade Shaquille O'Neal to the Miami Heat, ending a dreamy eight-year run in which the team won three NBA championships.
"I can confirm that all the parties have agreed to the deal," said Perry Rogers, O'Neal's agent, in a telephone interview late Saturday night with the Washington Post. "It's all pending (league) approval but I can say everything has been agreed to."
The deal - which sees the Lakers acquire forwards Lamar Odom and Caron Butler, centre Brian Grant and a future first-round draft pick - cannot be completed until Wednesday, when a two-week league wide moratorium on trades and free agent signings expires.
The news comes just hours after O'Neal gave his blessing to the deal that would send him to back to Florida. Greeted by reporters as he was leaving a gym near his Orlando mansion earlier in the day, O'Neal said he had not yet met with Heat president Pat Riley and declined to comment on a possible trade.
"I can't say anything about that today,'' said O'Neal, flashing a big smile.
But ESPN and the Sun-Sentinel reported that O'Neal joined his representatives for a three-hour meeting that included Riley and Heat general manager Randy Pfund.
O'Neal's contract runs for two more seasons with a combined salary of almost $59 million US, and he was angered earlier this season when the Lakers refused to offer him an extension.
Rogers said the Heat had not discussed a new contract with O'Neal.
"No extension was agreed upon. That was never a condition for Shaquille,'' Rogers said. "He wanted to go to an environment that was a team environment. We feel confident that that's what Pat Riley and (owner) Micky Arison have created as a culture. This is the type of place that Shaquille would love to finish his career.''
In Los Angeles, the formal announcement of Rudy Tomjanovich's hiring as the Lakers' new coach was partially overshadowed by the O'Neal trade talk and Kobe Bryant's free agency.
Bryant is free to sign with any NBA team as of July 14, and reports in Los Angeles have said he is giving serious consideration to signing with the Clippers. A trade of O'Neal, combined with coach Phil Jackson's departure, would appear to indicate the Lakers are doing all they can to placate Bryant in the hopes that he'll re-sign.
When O'Neal declared that he wanted out of Los Angeles just days after the Lakers lost the NBA final to Detroit, he listed Miami as one of his preferred destinations.
Riley and Pfund did not attend the Heat's summer league game in Orlando on Saturday as they had done all week. A Heat spokesman said the team could not comment, because O'Neal was under contract with the Lakers.
Tomjanovich said he spoke with O'Neal, but declined to divulge any details. "I just hope all those things turn out well,'' he said.
Los Angeles general manager Mitch Kupchak said at the press conference that there was nothing new to discuss on O'Neal.
"I don't know how this is going to play out, I really don't,'' he said. "When there is something to report, we'll report it.''
Kupchak said that he had not spoken with O'Neal or his representatives, but added: "Shaquille has a unique way of letting me know information I should know.''
Last year, O'Neal averaged a career-low 21.5 points with 11.5 rebounds and 2.48 blocks.
O'Neal began his NBA career with Orlando, leading the Magic to the NBA final in 1995. He signed with the Lakers as a free agent after the 1995-96 season and won three NBA titles in Los Angeles, though he has maintained a residence in South Florida.
In 12 seasons, he has averaged 27.1 points, 12.1 rebounds and 2.6 blocks.
Files from The Associated Press, ESPN, the Los Angeles Times and the Washington Post were used for this report.