I also don't know why you're sending them Faverani -- they're clearing cap space. Faverani is guaranteed next year. This doesn't help them. If it's for salary matching purposes, the trade can be agreed to on draft night and consummate in July, when Bogans, Johnson, and Babb will make salaries match.
Probably because if they DID get Melo and Lebron in addition to Kobe's already rediculous contract, they will be so far over the cap that they will be desperate to get their hands on any young, cheap center they can find. Faverani can give them a decent backup center at the very least, and may still have some upside. Not exactly gold, but as I said their cap situation would likely make them pretty desperate for guys at the PG and C spots.
I mean, they can't get Melo and Lebron. That's just not happening. Maybe Melo, but no way does LeBron take less money because Kobe got his $25 million. At any rate, the point is they can't be really that far over the cap, as they're using cap space to sign LeBron, Melo, or anyone else. And Faverani takes up an extra $1.5 million of that cap space ($2 million salary minus $500k cap hold for an empty roster slot). Furthermore, the only player they have under a guaranteed contract next year aside from Kobe is Robert Sacre, a center, who's cheaper than Fav.
Look, I'm all for taking on crap contracts next year for picks, and I don't mind giving back useful players in return depending on the crappiness of the contract and the quality of the pick. I advocated Danny do that at the trade deadline last February. I just think the particular parameters of this deal, like Faverani (not to mention Xavier Henry and Kent Bazemore, neither of whom can be traded), don't make much sense.