THE SHAQ SWEEPSTAKES

Someone else either had a quicker dialing finger or a watch counting down to 2 p.m. in hundredths of a second, but Jerry West was not the first team official to speak with Shaquille O’Neal’s agent when the NBA moratorium ended Thursday and the flood gates opened on NBA bidding. It was also the last time the Lakers were in a hole.

By about 3, all West, the executive vice president, was doing was playing host to Leonard Armato, the agent, at a get-together at his Bel-Air home. By a little past 4, they were finished for the day. By 7, Armato was more than impressed.

“How could Jerry West not make a great pitch?” Armato said. “He’s Mr. Clutch, right?”

Or about to win the Cy Young Award. O’Neal, the superstar center who became a free agent earlier in the day by opting out of his contract in Orlando as expected, and his representative both say the Magic still have the inside track to retain O’Neal, but Armato held what he called “substantive discussions” with West that kept the Lakers very much in the picture.

“I can’t really tell you any figures, but it was certainly a full, I’d say in-depth, complete discussion that covered a lot of areas,” Armato said. “From winning championships to compensation to quality of life. Everything.”

Maybe even timetables. After being contacted by only a handful of teams--the others realistic enough to know they don’t have the salary-cap room to compete--Armato said O’Neal won’t decide anything in at least the next few days and maybe even longer. The Lakers would normally be willing to wait out the process, especially with a potential payday like this, but these are definitely not normal times.

Their starting center, Vlade Divac, was traded to the Charlotte Hornets.

Their starting power forward, Elden Campbell, also became a free agent sure to draw interest, although chances are good he will be back.

They want O’Neal. But they need somebody.

“I talked with a number of people,” West said. “I think we have different priorities than some teams and our priorities are kind of set, but I can’t see things getting resolved fast and that concerns us. We need to be competitive as we can in this market.

“I think some people are going to sign quickly. And if that’s the case, we’re at an incredible risk to not get a player or players we would like to have.”

The Lakers, he said, did not set a deadline for O’Neal, or anyone else, to make a decision. But figure they might have one in mind themselves.

“We know it’s pressing, that’s for sure,” West said.

Armato obviously gave them encouraging signs because there will be future talks, whereas the few other teams now in the running might feel the need to change direction quicker. In the meantime, Armato is staying away from publicly ranking the chances of teams, although it is known that the Lakers are the likely winner if there’s no more O’Neal in Orlando.

At the risk of over-simplifying the situation, it comes down to this: If Shaq wants to stay with the Magic, he stays. If he decides to look elsewhere, he’s a Laker.

“I really have no feeling because it would be premature,” Armato said. “I need to digest what Jerry said and I need to talk to Shaquille and we’ll talk to Orlando because they have the first crack and the last crack.”

Also Thursday:

--Even though agent Lon Rosen had already sent a message by E-mail to teams via the league office that Magic Johnson will stay retired, four clubs called to inquire anyway. The answer was the same. Johnson has not ruled out lucrative offers from Argentina, Greece and Italy, but is leaning toward staying put.

--Sedale Threatt, a mainstay in the Laker backcourt the last five seasons, was contacted by Denver, Milwaukee, Detroit and San Antonio. Threatt will be 35 on opening night but feels he can play several more years, although he realizes his time in Los Angeles has probably come to an end to make room for a younger player as Nick Van Exel’s backup, not to mention salary-cap room.

--Jim Sexton, the agent for Horace Grant, said reports that his client will leave Orlando as a free agent if O’Neal does are inaccurate. “We never said anything like that,” Sexton said.