US Olympic NBA stars booked a gold-medal rematch with reigning European champion Spain in Sunday's men's basketball final by blowing out Argentina 109-83 on Friday.

The Los Angeles Lakers have finalized a deal to acquire all-star centre Dwight Howard in a 12-player, four-team deal, the National Basketball Association team announced on Friday.

The Los Angeles Lakers are close to finalizing a deal to acquire all-star centre Dwight Howard in a multi-player, four-team NBA deal, ESPN reported on Friday.

As the last seconds ticked away in France's 81-64 victory over Russia to reach the Olympic women's basketball final, French captain Celine Dumerc began dancing as she dribbled the ball on court.

With a different superstar finding his scoring touch in every game, the US Olympic NBA Dream Team has made an unbeaten run into Friday's semi-final against familiar foe Argentina look relatively easy.

Kobe Bryant displayed a sizzling shooting touch by sinking three 3-pointers in a row in 31 seconds on Wednesday as the United States beat Australia 119-86 to reach the Olympic basketball semi-finals.

Defending champions United States will play 2004 gold medallists Argentina and reigning European kings Spain will meet Russia in the Olympic men's basketball semi-finals after triumphs on Wednesday.

Nursing bruises and a grudge, reigning European champion Spain will face Russia in an Olympic men's basketball semi-final after outlasting France 66-59 in a punishing physical matchup on Wednesday.

The United States NBA Dream Team and Russia's top basketball talent could be headed for an Olympic gold medal showdown of ex-Cold War rivals 40 years in the making, or possibly even two of them.

Basketball legend Michael Jordan and other basketball stars have signed up for an "Obama Classic" this month, as the US president seeks to trim his fundraising deficit to Republican Mitt Romney.

Australia's Lauren Jackson became the all-time leading scorer in Olympic women's basketball history on Tuesday, powering the Opals to a 75-60 victory over China to reach the Olympic semi-finals.

Four-time defending champion United States advanced to the Olympic women's basketball semi-finals on Tuesday with a 91-48 victory over Canada, stretching the Americans' Olympic win streak to 39 games.

Three intense match-ups and the US NBA Olympic Dream Team's first win-or-go-home game in their quest for gold in London promise a passionate set of men's basketball quarter-finals on Wednesday.

Chinese track idol Liu Xiang returns to Olympic duty on Tuesday, four years after his Beijing dream was shattered, while 100m champion Usain Bolt begins the defence of his 200m title.

The US Olympic Dream Team took a blow and responded with a blowout, answering a "cheap shot" with a scoring blitz Monday in a 126-97 rout of Argentina to remain unbeaten entering the basketball medal playoffs.

US NBA stars routed Argentina 126-97 Monday to remain unbeaten and set up showdowns in Wednesday's Olympic quarter-finals, with the alluring chance of a US-Russia gold medal final on Sunday.

Kevin Durant scored 28 points and the US NBA Dream Team defeated Argentina 126-97 on Monday to remain undefeated and book an Olympic quarter-final date Wednesday against Australia.

NBA standout Leandrinho Barbosa scored 23 points to lead a second-half rally that lifted Brazil over Spain 88-82 on Monday and into a second seed spot in the Olympic men's basketball medal playoffs.

British basketball fans now have something more than a moral victory to celebrate after the Olympic hosts beat China 90-58 on Monday in a men's preliminary round contest that could give the game a boost.

Russian diva Yelena Isinbayeva goes for a third Olympic gold medal on Monday, aiming to prove she remains the undisputed queen of women's pole vaulting.