LEAD: Clippers claim Billups after deal for Paul breaks down

By Paul Levine Dec 13, 2011, 5:08 GMT

Los Angeles - Another blockbuster deal to ship highly-coveted Chris Paul to Hollywood, this time to the LA Clippers, not cross-town rival Lakers, broke down on Monday because the asking price by the league-owned New Orleans Hornets was too much.

But all was not lost for the Clippers, who several hours later claimed five-time NBA All-Star point guard Chauncey Billups off waivers, after the 14-year veteran was released by the New York Knicks on Saturday.

Billups averaged 16.8 points, 5.4 assists and 2.6 rebounds in 72 contests with Denver and New York last season.

The Clippers also re-signed restricted free agent centre DeAndre Jordan by matching a four-year, 43-million-dollar offer sheet presented by the Golden State Warriors on Sunday.

The Clippers emerged as the leading contender to acquire Paul from the Hornets after NBA commissioner David Stern on Thursday night rejected a proposed three-team, multi-player trade with Houston that would have brought the two-time All-Star point guard to the Lakers.

After attempting to rework the deal, the Lakers ended the discussions Saturday night, saying the Hornets were asking too much for Paul.

In the latest proposal, the Clippers would have acquired Paul in exchange for veteran centre Chris Kaman, second-year backup guard Eric Bledsoe, second-year forward Al Farouq and the number one pick received from Minnesota that is unprotected in the 2012 draft.

However, sources close to the negotiations told ESPN.com the Hornets were insisting young sharpshooting guard Eric Gordon be included in the package. The Clippers then pulled out of the talks, saying the demands were 'too steep.'

Paul will earn 16 million dollars this season and can opt out of his contract this summer to become an unrestricted free agent, meaning the 26-year-old can sign with any team and the Hornets would receive no compensation.

Elsewhere: The reigning NBA Champion Dallas Mavericks were also active, signing Vince Carter to a three-year contract after the eight-time All-Star forward/guard cleared the waiver wire, according to the Dallas News.

The deal for the former Rookie of the Year starts at about 3 million dollars under the terms of the new collective bargaining agreement, with the final two seasons partially guaranteed.

Carter owns career averages of 22.2 points, 5.2 rebounds and 4.0 assists in 925 games with Toronto, New Jersey, Orlando and Phoenix.

The Mavericks also agreed to terms with free agent backup point guard Delonte West, who averaged 5.6 points and 2.7 assists in 24 games with the Boston Celtics last season.

The Minnesota Timberwolves reached an agreement with unrestricted free agent JJ Barea on a four-year, 19-million-dollar deal, ESPN is reporting.

Also, the Wolves officially announced the signing of Derrick Williams, the second overall pick in the 2011 NBA Draft.

Barea, a speedy but undersized 5-foot-8 inch (1.73-metre) guard from Puerto Rico, enjoyed a breakout season off the bench and emerged as a spark plug in the playoffs, helping the Mavericks beat the Miami Heat for their first NBA Championship.

Dallas was offering Barea a one-year contract believed to be worth 8 million dollars to return, but wouldn't commit past this season, because they want to keep their salary-cap options open for 2012.

Barea is expected to join Spanish point guard Ricky Rubio, who will be making his NBA debut after being taken with the fifth pick in the 2009 draft but played the last two seasons in his native Barcelona.

Barea joins Tyson Chandler (New York) and Caron Butler (LA Clippers), who left as free agents following the Mavericks' championship season.

The Detroit Pistons waived veteran guard Richard Hamilton, who helped the franchise to the 2004 NBA Championship and a pair of Finals appearances during his nine seasons in Motown.

A two-time All-Star, Hamilton led the Pistons in scoring eight times, averaging 18.4 points, 3.4 rebounds and 3.8 assists in 631 contests.

The Pistons also requested waivers on Kareem Rush.