Here's a breakdown for you guys:
LA's Offer
Year 1: $7,127,430
Year 2: $7,875,810
Year 3: $8,624,190
Year 4: $9,372,570 (team option)
Total: $33,000,000
Based on 10.5% raises. However, only $23,627,430 is guaranteed
Miami's Offer (full MLE)
Year 1: $5,854,000
Year 2: $6,322,320
Year 3: $6,790,640
Year 4: $7,258,960
Year 5: $7,727,280
Total: $33,953,200
Based on 8% raises. If Odom makes more than $953,200 in 2013-2014, the Lakers' deal is better. He'll be 34, and there's no telling what he'll have left in the tank by then.