The Dallas Mavericks have a decision to make about what they want to do with Lamar Odom, regardless of what decision is made Odom will not be on the team next season. There is a June 29 deadline where the Mavericks have to decide to trade or waive Odom; plus there is a possible third option which is to extend that deadline.
If Odom is on the Mavericks roster after June 29 they are responsible for his $8.2 million contract, but if the Mavericks waive Odom before June 29 they will be on the hook for only $2.4 million.
The Mavericks are trying to save as much cap space as possible if they are going to be able to sign Deron Williams, and by even waiving Odom that will still clog up $2.4 million that could go toward landing Williams.
To move back the deadline the Mavericks need Odom's approval which is about 50/50 at this time, but if moved back it would give the Mavericks more time to work out a trade and get some value for Odom.