I think Odom should be the Spurs #1 prospect this offseason. I'd be fine with Rasheed, but Odom would be the perfect compliment to round out this team.
I know the Lakers don't want to let him go, but they might not have a choice. Odom is a UFA. Maybe he is tired of coming off the bench behind Gasol, Ariza and Bynum and wants to start on a Championship caliber team.
How It Could Actually Happen:
The biggest thing that gives the Spurs a glimmer of hope is the Lakers salary situation.
The Lakers currently have $76.8 million on the books for 2009-2010.
Kobe: 23.0M
Gasol: 16.4M
Bynum: 12.5M
Morrison: 5.3M

Fisher: 5.0M
Sasah: 5.0M

Luke Walton: 4.8M

Farmar: 2.0M
Mbenga: 1.0M
Powell: 1.0M
Yue: 1.0M
The luxury tax threshold is estimated to be around $70M this coming season so the Lakers are already $6.5 million over the dollar for dollar luxury tax threshold. I don't see anyway the Lakers can cut any salary because they have already tried to rid themselves of Sasha's awful contract and nobody wants it. Adam Morrison's contract is a total joke.
This $76M is without Odom, Ariza, or Shannon Brown being signed. I've got to think that Ariza is priority #1 for the Lakers because of his age and his production this offseason. Ariza is a RFA. It's possible that Portland or Detroit could come out and offer Ariza $7M/yr to start. Let's say Ariza signs the offer sheet for $7M with one of these teams. If the Lakers match the offer, it will actually cost them $14M ($7M in salary and $7M in lux tax) a year taking their salary cap amount up to $83.7M without Odom and Brown.
Shannon Brown showed some flashes and is a young guy that L.A. would like to resign. Let's say that Brown gets $3.3M a year and L.A. decides he is worth it (he certainly is if Morrison and Sasha are worth $5M). This takes L.A.'s salary up to $87M for the year without resigning Odom.
If the luxury tax threshold is $70M, then that would put the Lakers payroll at $104M after luxury tax payments without Odom!
Keep in mind that Odom is a UFA. Let's say the Spurs come to Odom and offer him a 5/$32M contract. Can L.A. really match that and pay twice that much in luxury tax for a backup PF? If so, their salary totals would be up to around $93M pre-lux tax which would actually cost them $116M.
Buss has shown no precedent whatsoever to spend that kind of money. Maybe he does because these guys are the defending champs, but that's a lot of coin. Even if Ariza only commands MLE type money, Buss is looking paying $110 M to keep this team in tact.
Odom on the Spurs:
Now, think of how versatile Odom is and how well he would fit on this Spurs team. He can play and guard 3 different positions on the court and would be a perfect compliment to Duncan in the post. He is a good rebounder and can even bring the ball up the court.
Odom would allow the Spurs to play small ball or play big by moving down to SF.
Small ball: Tony/Mason/Manu/Jefferson/Odom
Normal ball: Tony/Manu/Jefferson/Odom/Duncan
Big: Manu/Jefferson/Odom/Duncan/Blair (or Rasho for the LLE)
The possibilities are limitless with Manu and Odom being able to bring the ball up the court.
Finally, the biggest bonus of all - it would kill the Lakers. When Odom plays well, the Lakers are unstoppable. Odom always seems to play well against us.
Is 5 years, $33M too much? Probably, but it's worth kicking L.A. in the junk for and really causing them a hard time to extend a similar offer.
I know the odds are not good because L.A. would probably overpay him out of principle alone, but remember, Odom is a UFA, not restricted. If he wants to walk, he can walk. If the Spurs offer more years and the ability next to start next to Duncan, Parker, Ginobili, and Jefferson, maybe he defects.
It's worth a phone call at the minimum.
Imagine this:
Parker/Hill
Manu/Mason/McClinton
Jefferson/Finley/Hairston
Odom/Bonner/Gist
Duncan/Rasho/Blair
That is pretty freaking salty and allows us some major versatility that teams would have a hard time matching.