Lakers and Luol Deng reach buyout agreement

Luol Deng

Luol Deng

The Los Angeles Lakers officially announced the waiving of veteran forward Luol Deng on Saturday afternoon.

Deng signed a surprisingly massive four-year, $72 million deal during the summer spending spree of 2016. The $18 million he'll be paid for 2018-2019 is already committed, but since the Lakers chose to do the stretch-and-waive after August 31, they will be able to stretch the remaining $18.8 million Deng is owed over the next three years.

The 33-year-old Deng's deal is a remnant of the administration of former Lakers basketball boss Jim Buss and general manager Mitch Kupchak.

They unloaded Timofey Mozgov's bloated contract by attaching D'Angelo Russell to him in a trade with the Brooklyn Nets.

Cafe bombing kills separatist leader in eastern Ukraine. Suspects in custody
It has killed the self-proclaimed area's pro-Russian Prime Minister Alexander Zakharchenko, his government says . The leader of the main breakaway territory backed by Moscow in eastern Ukraine has been killed by a bomb.

ESPN reported that Deng walked away from $7.5 million of the $36.8 million remaining on his contract.

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

The two-time All-Star felt he didn't fit well into coach Luke Walton's up-tempo system, and he apparently declined to rejoin the rotation when the Lakers were slowed by injuries. With waive and stretch provision, Lakers have cleared $38M in salary cap space in 2019 free agency.

Deng is likely to find a home quickly as a free agent.

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