Update As Of Jan. 5, 2014: ESPN Los Angeles 710 Radio wrote the following on their official Twitter account late Saturday night and issued an apology:
LOS ANGELES (CBSLA.com) — Sources indicate that the trade talks involving Laker Pau Gasol and Cavalier Andrew Bynum had been completed, but teams have yet to confirm the deal.
ESPN Los Angeles 710 reported that a league source said the deal was done, but no confirmation has yet come from any Laker source. The Cleveland Cavaliers wanted to move the 7-0 Bynum by Sunday in order to have the full guarantee of his contract, the deadline for which is Tuesday.
Reports appeared that trade talks had stalled between the Lakers and Cavs, involving Gasol, who has played for the Lakers since the 2007-08 season, and Bynum, who played in LA from 2005 to 2012.
Gasol, a four-time all-star, is shooting .449 from the field, and is averaging 15.3 points and 9.5 rebounds per game. The 33-year-old Spaniard helped lead to the Lakers to three NBA Finals appearances, with Los Angeles winning two of them.
Bynum missed the 2012-13 season after knee surgery.
Los Angeles would expect to save about $20 million in cap space, and general anticipation is that the team would likely drop Bynum after the deal in an effort to free up cap space for the future.
Team officials have not confirmed the trade as of Saturday evening, and official announcement is expected on Sunday.