RealGM

I read this information below and I felt kind of confused of what is explained below.

"Utah's own 2009 1st round pick to Philadelphia (top 22 protected in the 2009 Draft, top 15 protected in 2010, top 17 protected in 2011, top 16 protected in 2012, and top 16 protected in the 2013 Draft). However, if: (i) Utah's own 2009 first round draft is not protected, and (ii) Utah is entitled to receive New York’s own 2009 first round draft pick, then Utah shall convey to Philadelphia the more favorable of its own 2009 first round draft pick and New York’s 2009 first round draft pick. Further, if: (x) Utah did not satisfy its obligations to Philadelphia in 2009 and (y) if Utah's own 2010 first round draft is not protected, and (z) if Utah is entitled to receive New York’s own 2010 first round draft pick, then Utah shall convey to Philadelphia the least favorable of its own 2010 first round draft pick and New York’s 2010 first round draft pick. If Philadelphia does not receive a first round draft pick from Utah pursuant to the foregoing in any of the Drafts from 2009 through 2013, then Utah’s obligation to send a first round draft pick to Philadelphia shall be extinguished and Utah shall instead convey to Philadelphia Utah’s own 2014 second round draft pick and pay to Philadelphia cash. [Philadelphia - Utah, 12/29/2007]"

I copied this information from Real GM - NBA Draftpicks Owed.

What does this mean?

Additionally, why do teams need to pay cash like Utah when they received another team's draft pick and traded their own draft pick?

Utah owes Philadelphia a pick from the Kyle Korver deal. However, they put boatloads of protection on it so that they didn't give away a good pick for someone as inconsequential as Korver. That there describes all that protection. What complicates matters is that Utah is also owed a pick by New York, one which also has a boatload of protection on it. So they don't even know what year they;re getting that pick yet. That language above describes what Philadelphia gets and when.

Picks can only be traded for a certain number of future years, though, and the language at the end there explains what the teams agreed to do if the thing went on for too long, So, in the unlikely (but possible) scenario that Philly still hasn't received a first from Utah before 2014, they'll instead get Utah's second rounder and some money instead of the first rounder.

Isn't it obvious?

Basically, the Jazz traded a pick to Philadelphia. That pick is top-22 protected in 2009, and so on. (That pick has also since been traded to Minnesota.)
New York previously owed a pick Utah. That pick was also top-22 protected in 2009, by New York, unprotected in 2010.

In 2009:
1) If Utah's pick is 23rd or later, and New York's is 23rd or later:
Minnesota gets the better pick, Utah keeps the worse pick, New York gets nothing.
2) If Utah's pick is 23rd or later, and New York's is top-22:
Minnesota gets Utah's pick, Utah gets nothing, New York keeps New York's pick.
3) If Utah's pick is top-22 (regardless of where New York's pick is, from the way it's worded):
Minnesota gets nothing, Utah keeps Utah's pick, New York keeps New York's pick.

In 2010:
1*) In case 1 above, all debts are already satisfied. Utah keeps Utah's 2010 pick, New York keeps New York's 2010 pick.
2*) In case 2 above, Utah's debt to Minnesota is already satisfied. Utah keeps Utah's 2010 pick, Utah gets New York's 2010 pick.
3*) In case 3 above:
---3A) If Utah's pick is 16th or later, Minnesota gets the worse 2010 pick, Utah gets the better 2010 pick.
---3B) If Utah's pick is top-15, Minnesota gets nothing, Utah keeps Utah's 2010 pick, Utah gets New York's 2010 pick.

In any case where Minnesota has not received a pick by 2010, the protections for 2011 and after are delineated. Minnesota gets the pick if it falls outside the protected zone in any of the years from 2011 through 2013...if it never does, Utah keeps them all and INSTEAD sends a 2nd round draft pick, and cash.

Not sure if that help or hurt

Say loserX, when you have some time, come up with a way for MIN to trade you guys back this pick, because you're the only people that can keep it straight!

(Thanks for setting it all straight -- I'm reprinting it on the MIN board.)