Lakers reach agreement on buyout with Luol Deng

Veteran forward Luol Deng and the Los Angeles Lakers have reached an agreement on a buyout, league sources told ESPN.

Los Angeles was projecting to have $25 million in salary-cap space for next season. That number will increase to the $36-38 million range once the Deng buyout is completed, giving the Lakers room for another max-contract player next summer.

Deng will enter free agency and command interest from several contenders, sources said.

Both sides have been working diligently in the past few days on coming to terms on a split that worked for both parties.

Deng, 33, had two years remaining on a four-year, $72 million dollar pact he signed in the summer of 2016. With the change in direction in hiring Magic Johnson to run basketball operations, the Lakers have committed to developing their young talent. Furthermore, with the addition of LeBron James this offseason, Deng's days as a Laker were numbered.

The 14-year veteran has a career averages of 15.0 points and 6.1 rebounds per game. He played in only one game for the Lakers in 2017-18, appearing in the season opener before being benched the rest of the season.

ESPN's Bobby Marks contributed to this report.