The Minnesota Timberwolves offered to trade Michael Beasley to the Los Angeles Lakers for a first-round draft pick, but the Lakers turned them down, according to a league source.

While Beasley, a talented and athletic small forward, would fill one of the Lakers' greatest needs, the Lakers rejected the offer because they do not want to add to their luxury tax bill, according to the source.

With one of the league's highest payrolls at roughly $88 million -- well above the luxury tax threshold of $70 million -- the Lakers are due to pay $18 million in taxes this season. Since there is a dollar-for-dollar penalty for tax-paying teams, taking on Beasley's $6.2 million deal would add another $6.2 million to their tax bill and cost the Lakers a pro-rated shortened-season total of $7.331 million.

The Lakers' decision falls in line with their decision to trade Lamar Odom to the Dallas Mavericks for an $8.9 million trade exception in December. While Odom asked to be traded after finding out the Lakers put him in a foiled trade attempt to get Chris Paul, the Lakers' chief motivation for trading Odom was to chop their payroll and to save money.

Under the new revenue sharing plan in the recently adopted collective bargaining agreement, the Lakers will pay a bundle and because of that, owner Jerry Buss is no longer willing to spend so freely in going above the luxury tax, according to sources.

Under the Timberwolves' proposal, the Lakers would have absorbed Beasley's contract into the trade exception they received from Dallas. In return, Minnesota asked for the Lakers' best first-round pick in the upcoming draft. In addition to their own pick, the Lakers own Dallas' first-round pick, as long as it is not within the first 20 selections.