Report: Lakers Finalizing Contract Buyout with Forward Luol Deng

The two sides are working on parting ways on the remaining two years on Deng's contract. 
Report: Lakers Finalizing Contract Buyout with Forward Luol Deng
Report: Lakers Finalizing Contract Buyout with Forward Luol Deng /

The Los Angeles Lakers and veteran forward Luol Deng are reportedly finalizing a contract buyout as part of a waive-and-stretch provision, per Shams Charania of The Athletic. 

Deng has two years and $36.8 million remaining on his contract. ESPN's Adrian Wojnarowski and Ramona Shelburne report that he will walk away from $7.5 million of the remaining $36.8 million.

The buyout will allow Deng to enter free agency. 

The Lakers have been unable to find a trade partner for Deng without the inclusion of other prospects and/or draft picks. Stretching Deng will open up an additional $12.5 million in cap space.

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Los Angeles was projecting to have $25 million in cap space for next season. The buyout of Deng puts leaves the team with $38 million, which is enough money for a max-contract player in 2019 free agency.

Deng has been with the Lakers since 2016 when he signed a four-year, $72 million deal with the team. The 33-year-old has averaged 15.0 points and 6.1 rebounds per game over the course of his career. 

He only played in one game for Los Angeles last season.


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