The Lakers lost interest and pulled their deal off the table when Odom and his agent didn't respond quickly enough to the offer.
Odom prefers a five-year deal but appeared willing to accept the Lakers' offer if they had guaranteed all four years.
The Lakers' offer before it was removed was for four years at $9 million a season. But only three years of the deal were guaranteed.
The Lakers held the option for the fourth season and had guaranteed Odom $3 million if they decided to buy him out.
The Lakers also offered Odom a three-year deal that would have paid him $10 million a season.
Either way, at least in the Lakers' eyes, Odom would have been paid at least $30 million with the opportunity to earn more.
Lakers owner Jerry Buss withdrew his offer Tuesday because he was unhappy that Odom and his people waited so long to respond to the team's offer and because Odom spoke to Miami Heat President Pat Riley to discuss a deal. Buss is still upset.
Odom had conversations with the Heat about signing for the mid-level exception of $5.8 million.
The Heat would have given Odom a five-year deal for $34 million, and probably the opportunity to opt out after three seasons and become a free agent in 2012.
Calls to Odom from teammates Derek Fisher on Thursday and Kobe Bryant on Wednesday failed to settle the issues.
Odom and his representatives are expected to make a decision this week on his future.
If he is able to get Buss to re-open negotiations, Odom, who turns 30 on Nov. 6, may have to take less than the $9 million a season that was originally offered.
After the Utah Jazz matched the offer Portland gave Paul Millsap, the Trail Blazers have about $8 million to offer another player.
But it appears they don't have any interest in Odom, and he doesn't appear to have interest in Portland.
The Lakers could also risk losing Odom and getting nothing in return if he goes to another team.