2. Minimizing loss
In a perfect world, the Los Angeles Lakers would trade D'Angelo Russell for the point guard of the future. It would be a trade that likely centers around multiple assets rather than Russell himself, however, and that's where the battle of waiting versus ripping the bandage off is waged.
Trading Russell for a star would likely mean losing some combination of Rui Hachimura, Austin Reaves, Jarred Vanderbilt, and Gabe Vincent along with him—but waiting could prevent that outcome.
It's unlikely that the Lakers would be able to trade Russell for a star straight up in February, but they could acquire assets to minimize the long-term loss. If the team is able to swap him for a future first-round draft pick, that could help keep a valued player out of potential star-driven trade negotiations.
Considering teams manage to swap high-level role players, let alone former All-Stars, for first-round draft picks near the trade deadline in virtually every season, it's hardly a far-fetched idea.
In that scenario, the Lakers could either keep the first-round draft pick and utilize it to add more up-and-coming talent to the roster or package it in a future trade. The latter scenario could provide Pelinka with enough negotiating artillery to keep a coveted player like Reaves on the roster.
Russell's expiring salary would have value in trade negotiations, but the first-round draft pick he could fetch from a desperate team in February could do more to protect Los Angeles' assets.