I think we all as Blazer fans want this to happen. However, this is something that could take awhile assuming no team like the Nets take him first. The Knicks are not even in consideration in my mind because they have nothing to give up, and even though the Hornets may be looking for expiring contracts/cap relief, they would want at least a couple of decent prospects. Knicks have nothing, but trash to give back. The Nets are a serious contender, but one point to dealing Paul, if they did, is to free up Collison for big minutes. Harris does the opposite of that and unless the Hornets really like Favors or the Nets are willing to let go of Lopez, they may not be the best trading partners.
Now the question becomes, how serious was this trade being considered by the Hornets? If it is as serious as the article seems to be suggesting, I think this is easily something you can explore later in the summer or even before the trade deadline if Paul is not already dealt by then and the Hornets so not have a great record. By then Batum could raise his value or Bayless, or heck, even Rudy could. Then, if we really wanted Paul we could always throw in Oden and see if they bite. I have a hard time seeing us trade Oden if he stays healthy before the trade deadline and does really well. Who knows.
