We can't package him at the trade deadline, we have to wait two months which is passed the trade deadline:
http://members.cox.net/lmcoon/salarycap.htm#Q87
This is a horrible trade because we lose a chance to be a major player at the trade deadline. The number of teams with Cap Space was down to us and the Grizzlies and we sold ours for two wooden nickles. This also means that the Maloofs were so desperate for cash we had to do this trade. They probably would have made the same amount when the luxury tax disbursements were made if the Hornets had to pay.