It wasn't a good deal for the Hornets franchise, given their current situation. They were to give up their superstar/franchise player without having any opportunity to rebuild while committing massive cash to players that are, at best, second or third options, and not getting enough young, cheap talent with upside.
That was the problem (or should have been) for the Hornets "owners." Unfortunately, some owners are really dumb, like Dan Gilbert, who wanted to make it about competitive balance. There's nothing about balance that should void a trade that is otherwise within the rules.
Dell Demps was an idiot for taking that deal rather than one involving multiple 1st rounders, players on rookie deals, and/or young, current all stars. And he should have looked to shed more salary in the process to clear the decks for the next owners.
Essentially, he should have taken the C's offer of Rondo, Green, plus picks, and he should have tried to talk us into taking Okafor for Ray's expiring and a couple 2nds as well. It would have been smart to try to get hometown guy BBD there as well to perhaps sell ten or fifteen more tickets to BBD's old buddies.
WE made the best offer, but the trade went to LA anyway. Something was up, and whatever THAT was is a problem for competitive balance.