Report: Lakers, Luol Deng finalizing buyout as part of waive-and-stretch provision

The Los Angeles Lakers and Luol Deng are finalizing a contract buyout as part of a waive-and-stretch move, according to The Athletic’s Shams Charania. Deng will now become an unrestricted free agent.

Deng signed a four-year, $72 million contract with the Lakers during the crazy 2016 spending spree, giving him two years, $36.8 million left on the deal. Since the Lakers waited until September to make the move, his 2018-19 salary of $18 million is dead money on the books (the exact amount depends on the terms of the buyout) and his $18.8 million owed in 2019-20 will be stretched out over three years. This will help open up cap space next summer.

The Lakers will be aggressively going after another star to pair with LeBron James. Kawhi Leonard is the most popular option, but there are a handful of other stars potentially hitting the market, including Kevin Durant, Jimmy Butler, Kyrie Irving and Klay Thompson.

Deng simply never worked out in Los Angeles. He had the worst season of his career in 2016-17 after signing his big contract, averaging 7.6 points and 5.3 rebounds in 26.5 minutes per game. He then proceeded to appear in only one game last year as the Lakers focused on their youth movement.

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