THURSDAY, 5:05pm: The Mavericks have officially re-signed West, according to a team release.
TUESDAY, 6:44pm: According to a tweet from ESPN.com's Marc Stein, Delonte West will re-sign with the Mavericks on Wednesday. Earlier tonight there was a report from ESPNLosAngeles.com that the Lakers were interested in making an offer for West, but it appears the eight-year veteran will forgo that possibility to stay in Dallas.
Terms of West's deal aren't yet known, but the Mavs still have the cap flexibility to offer the veteran guard more than the veteran's minimum. The one-year pact also allows the Mavs to retain flexibility for next summer, when the team is expected to revisit the free agent market in hopes of landing an impact player.