C's Receive:
Granger
Hibbert
Collison
Oden
Fernandez
C's Trade:
Rondo
Allen
JO
#24 Pick
Incoming/Outgoing salary
28M/26.2M
Pacers Receive:
Rondo
JO
#21 Pick (Blazers)
#24 Pick (Celtics)
3M Cash from the C's (if that's what it takes)
Pacers Trade:
Granger
Hibbert
Collison
Incoming/Outgoing salary
16.2M/15.1M
Blazers Receive:
Allen
Blazers Trade:
Oden (8.8M qualifying offer)
Fernandez
#21 Pick
Incoming/Outgoing salary
10.0M/10.9M
The Why's...
Why for the C's?
Although you're giving up your starting backcourt since 07, you receive 5 young players that can be building blocks for years to come. Hibbert lessens the gamble that is Oden. Pierce, Granger, Green, and Fernandez make for a nice rotation at the 2/3. Collison is a nice, improving player.
Why for the Pacers?
Bird is shopping Granger. Hibbert is a big loss, but that's what it takes to get Rondo. Rondo's arrival make Collison expendable. JO comes back to retire as a Pacer, be it for one season or less. #21 and #24 picks, to go along with their own #15, gives Bird a chance to stockpile young inexpensive talent.
Why for the Blazers?
Allen improves their ability to win next season. Aldridge, Camby, Wallace, Miller, and Allen provide a starting 5 that is very capable of being a very tough out in the playoffs. Oden seems like someone that Portland wants to cut ties with. Rudy has been dangled in trades for a couple of years now.