The Los Angeles Lakers are signing veteran forward Deandre Ayton, according to a report from ESPN's Shams Charania.

NBA insider Marc Stein was the first to report on Wednesday that rival executives expected Ayton to sign with the Lakers upon formally clearing waivers at 5 p.m. ET. Stein's colleague, Jake Fischer, reported that it'll be a two-year deal for Ayton, and the Lakers will pay him $16.6 million over the life of the agreement, which includes a player option for year two. Ayton's salary for next season, when factoring in his $25.6 million Portland buyout, will be north of $34 million.

Ayton was waived by the Portland Trail Blazers earlier this week after two seasons with the franchise. Ayton was entering the final year of a four-year, $132.9 million contract he signed with the Phoenix Suns, and he’ll make $34 million this year between payments from the Trail Blazers and Lakers. He was traded to Portland as part of a three-team deal in September of 2023 that sent Damian Lillard to the Milwaukee Bucks.

In seven NBA seasons with the Suns and Trail Blazers, Ayton has averaged 14.4 points and 10.2 rebounds on 56.6% shooting from the floor.

More NBA on Sports Illustrated