The Los Angeles Lakers and the Cleveland Cavaliers failed to reach "common ground" on a potential trade involving Pau Gasol and Andrew Bynum.

The Lakers initially announced that they wanted a resolution by Sunday, but ESPN reported that the negotiation hit a snag again. But while the Cavs and the Lakers appear far from getting something done, the Gasol-for-Bynum trade is still possible before Tuesday.

The Cavaliers have until Jan. 7 to deal Bynum because the other half of the oft-injured center's $12.25 million contract this season will be guaranteed if he is not traded or waived before Tuesday's deadline.

Cleveland and Los Angeles reportedly discussed numerous possibilities, but the negotiations are still far from completed due to the Lakers' stance of getting additional assets.

Sources said that the Lakers will only agree to deal Gasol if the Cavaliers will surrender young assets or future picks in the deal. The Lakers want more than a salary-dumping trade. Acquiring the team-friendly contract of Bynum for Gasol will save the Lakers more than $20 million in salary and taxes this season.

Yahoo Sports reports that the Lakers are interested in acquiring second-year guard Dion Waiters, but the Cavaliers refused to include the 2012 fourth-overall pick in the deal.

Aside from Waiters, sources told the Akron Beacon Journal that rookie guard Sergey Karasev, the 19th-overall pick in the 2013 NBA Draft, was also mentioned in the discussion, but the Cavaliers are excited about the potential of the 20-year-old Russian guard.

While Gasol could help the Cavaliers reach the playoff considering how weak the Eastern Conference is this season, the team is reluctant to part ways with young assets, knowing that Gasol could just be a half-season rental since he is set to become a free agent after the season.

"Cleveland sees Gasol - who will be a free agent in 2014 - as a rental player for the rest of this season and largely wants the Lakers to view the substantial financial savings as motivation to complete the deal, sources said," Yahoo Sports reported.

If an agreement is not reached by early Tuesday, the Cavaliers could waive Bynum to save more than $6 million in salary. They could also keep him and try to trade him before the deadline or in the offseason to a team looking for a salary-dumping trade since the contract of the 26-year-old center is not fully guaranteed next season.