There have been a few knee-jerk "no" responses on this one, but it's actually a pretty fair deal. Hibbert isn't in there as a piece so much as salary filler and an expiring contract. Butler is just there because we're trying to give him another home. Which basically means it's a Russell for Gay/Koufos deal that actually is legal under the salary cap rules.
The Lakers are really hurting on the front line - Hibbert looks more or less done as an impact player and beyond him, it's basically Randle, Bass and a bunch of nothing. So I can see how they might have their eye on Koufos, who has been steady if unspectacular throughout his career. We all know about Gay - dynamic scorer, extremely frustrating on defense because of his wildly inconsistent effort, does dumb stuff sometimes, but I can see why they'd want him because he instantly upgrades their offense. And then there's Russell, who has great size and potential for a PG but who is having a pretty rough transition into the league and if they can sell him off to get a big offensive piece and something solid in the middle, that's not a terrible bet given that Clarkson isn't looking incapable of handling point for a while.
If we were to do it, it certainly seems like a white flag move on the season. And furthermore, it's basically a commitment to Russell as the PG of the future, which means we probably don't bring Rondo back. But of course, our FO probably has a better read on whether we can successfully bring Rondo back or not and I think that would have to play into our decision making here. Gay is a great piece to have, but I'm OK shipping him off to get quality - he has just been far too frustratingly inconsistent - but I wouldn't sell him just to sell him. Koufos is also a decent player, but with Cuz here and with WCS improving before our eyes he'll never be more than a third big - which we might be able to fill nearly as well for less money.
If we're faced with the prospect of standing pat vs. this move, it's probably important to ask where we're at. As it stands now, Rondo is our only major player who is not under contract next year, and Cuz, Koufos, Belli, and WCS are around for at least another year on top of that. We've got makings of a stable core, but it's one that halfway into the season is still a bit shaky - sure that five-game win streak felt really good, but then it all came crashing down again. Is this a good enough core to make the playoffs? Is it a good enough core to compete for a championship? And if not, where do we get the pieces we need to do that? Right now, the draft isn't our friend. We owe the Cleveland pick to Chicago if we're any good. If we stink and hit the lottery, Philly is going to swap it out from under us. It's most likely time to build in free agency. As it stands right now, next year we're committed to about $67M and we assume we're going to have to spend a pretty good chunk of our cap space (given projections we'd figure to have about $18M in cap space total) to get Rondo back. With every other team in the league also flush with cap space, $18M or so isn't going to go too far - if we stand pat at the trade deadline saying that this is our playoff core, then next year's team probably doesn't look too different.
If we take the deal as offered, where are we? You figure Rondo walks, you figure Hibbert walks, so we get an instant $17M more in cap space (Russell vs Gay/Koufos/Butler) - that's up to more like $35M. And, given that Rondo would probably be a goner, we might be able to flip him for something useful at the deadline (though that would presumably diminish our cap space). The question, then, is whether a Cousins/Russell/WCS core with guys like Omri/Ben/Marco/Darren as filler is enough to attract a huge free agent in the offseason - like perhaps a guy whose name rhymes with Mevin Murant. If so, I gotta do the deal. If not I've got to be really convinced that Russell is good enough to be piece #2, and while I like him, I don't know if I'm really convinced.
But hey, you know it's a reasonable trade offer when it's that hard to say yes or no.