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Lakers Trade Fisher and Walton (But NOT Gasol!) For Cavs' Sessions

Los Angeles Lakers' Pau Gasol, left, wipes his face as teammate Derek Fisher looks on during the second half in Game 2 of a second-round NBA playoff basketball series against the Dallas Mavericks, Wednesday, May 4, 2011, in Los Angeles. Dallas won the game, 93-81, to take a 2-0 lead in the series. (AP Photo/Chris Pizzello)
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The Los Angeles Lakers trade deadline was today, and they've wrangled out a deal to trade Luke Walton and Derek Fisher, but not Pau Gasol, who was the subject of much trade rumor speculation in recent days.

"The Lakers have traded Derek Fisher to Houston for forward Jordan Hill. In addition, they will send the pick acquired from Dallas in the Lamar Odom deal to the Rockets," explains the ESPN blog Land O'Lakers.

For Walton, it's the end of a career-long era; he's spent "his entire career in Los Angeles," notes Lakers Nation in their farewell blog to the player.

L.A. also gains Ramon Sessions in the deal, which was largely centered on dealings with the Cleveland Caveliers. The Cavs site details who is going where:

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The Cleveland Cavaliers have acquired the Los Angeles Lakers’ first round pick in the 2012 NBA Draft (lottery-protected) and forwards Jason Kapono and Luke Walton from the Los Angeles Lakers in exchange for guard Ramon Sessions and guard/forward Christian Eyenga. Additionally, the Cavaliers received the right to swap their least favorable first round pick in the 2013 NBA Draft with the Lakers (Please note: the Cavaliers currently own their own first round pick and Miami’s) and cash considerations.

Sessions announced his excitement at joining the purple and gold Lake Show on Twitter:

And rumor-subject Gasol Tweeted his relief at getting to stay put:

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Lakers GM Mitch Kupchak is expected to discuss the trades with the media later this afternoon.