UPDATE, 12:15 P.M. CENTRAL:

UPDATE, 12:10 P.M. CENTRAL:

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The proposed deal has reportedly been submitted to the league and is apparently hung up over the Clippers' failure to include point guard Eric Bledsoe, according to ESPN. If true, it's a very strange point to be arguing over. More importantly though, there are conflicting reports about the deal itself. ESPN characterizes the current trade as the following:

The New Orleans Hornets and Los Angeles Clippers have submitted a multiplayer blockbuster deal to the NBA that would send All-Star point guard Chris Paul to Los Angeles, a source with knowledge of the discussions said Monday.

But the trade as presented has at least one stumbling block: The league, which owns the Hornets, wants the Clippers to add Eric Bledsoe to a package that already includes guard Eric Gordon, center Chris Kaman, forward Al-Farouq Aminu and Minnesota's unprotected 2012 first-round pick.

But a number of league-wide reporters are disputing that, with NBA.com's David Aldridge most recently indicating that the Hornets still must choose between the pick and Gordon.

So consider this your open thread to talk through this craziest of mornings.