LAL: They use Vincent's salary and Knecht to get a wing defender, which they desperately need, and an upgrade over Hayes at the backup center. To entice PHX, they offer their 2028 and 2030 FRPs

PHX: Royce doesn't currently fit their timeline as well as someone like Knecht would, who they can develop. They also have the opportunity to shed some cap once Vincent's contract expires, and they regain some pick assets in the form of the swaps.

(I could also see PHX asking for Vando instead of Vincent since he slots in at their PF positions)