Image: L.A. Times

Image: L.A. Times

UPDATE: Here’s an interesting tidbit from Marc J. Spears of Yahoo Sports (via HoopsRumors) who notes that “the Lakers’ trade talks involving Pau Gasol aren’t limited to the Cavaliers.”

While we know that the Lakers talked to other teams about Gasol last month – Houston, Brooklyn and New York, for example – Spears seems to suggest that the Lakers are talking to teams other than the Cavaliers right now about a Gasol trade.

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The Los Angeles Lakers and Cleveland Cavaliers continued to discuss a potential Pau Gasol-for-Andrew Bynum deal over the weekend, though they’re still reportedly struggling to find middle ground.

According to Brian Windhorst and Ramona Shelburne of ESPN.com, the Lakers and Cavs failed to reach an agreement on Sunday night, though they’re expected to give it another go on Monday:

[pullquote]After a week of talks, the Los Angeles Lakers and Cleveland Cavaliers could not find common ground on a trade involving Pau Gasol and Andrew Bynum by Sunday night, sources told ESPN.com.

While there was disappointment a resolution was not reached by Sunday night, there is an expectation that talks between the teams would continue into Monday, sources said.

Both sides were interested in getting something done before the end of the weekend, but they could not get traction. The Lakers leave Monday for a road trip to Texas and the Cavs wanted to be able to process physicals of any new players before Tuesday’s deadline for Bynum’s contract to be guaranteed.

Though the discussions have been varied and both sides considered numerous possibilities, the central issue never wavered, sources said.[/pullquote]

The Cavaliers are said to have other offers on the table, though Sam Amick of USA Today reported that the Utah Jazz are “not as much in the mix” as other teams. Amick also notes that Cleveland reached out to the Memphis Grizzlies to gauge their interest in parting with Zach Randolph, though the Griz quickly sent the Cavs packing.

It seems that the Lakers’ demands haven’t changed: They still want an asset – as well as the financial relief that Bynum’s contract would give them – in return for Gasol. To this point, neither side has budged, though time is quickly running out and something has to give if the two teams want to come to some kind of resolution.

Bynum’s deal will become fully-guaranteed if he’ s not waived by 5:00 PM EST on Tuesday. The Lakers are only interested in Bynum’s deal as it’s non-guaranteed if he’s waived by January 7. After Tuesday, his contract is worthless to them.

It seems that the Cavaliers will have to decide what they want to do on Monday in order to complete the deal while leaving time for the Lakers or another team to waive Bynum before his contractual deadline. Watch this space.