Odom wasn't at the Lakers training complex on Sunday, although the team claims no trade has taken place.
Odom was the NBA's sixth man of the year last season.
Multiple reports say the Lakers will use the extra money and salary exception from Dallas to acquire Dwight Howard of the Orlando Magic.
On Saturday, Howard formally requested to be traded from the Magic. It came a day after the team granted New Jersey, Dallas and the Lakers permission to talk to Howard's agent, Dan Fegan, about possible deals.
"I've been back and forth," Howard said. "Mainly because the people here really care for the city. Nobody's going to understand that. And if you hate me because of a jersey, then you never really loved me. That's how I feel."
Meanwhile Pau Gasol attended the Lakers' media day, again expressing his hope that the Lakers don't trade him. Gasol was a part of the three-team deal for Paul.
The Associated Press contributed to this story.