Dwight Howard Signs With Lakers

6:23pm: The Lakers have issued a press release to announce the signing, Tania Ganguli of the Los Angeles Times tweets. The club also confirmed that Aric Holman has been waived.

4:46pm: After clearing waivers, Dwight Howard is officially signing his contract with the Lakers, Shams Charania of The Athletic tweets.

It’s a $2,564,753 veteran’s minimum deal, but Howard’s contract doesn’t have any salary protection, according to ESPN’s Bobby Marks (Twitter link). He’ll earn $14,490 for every day he’s on the roster, with the clock starting on October 21.

An Exhibit 9 clause will likely be inserted into Howard’s summer contract, in which the team would only be on the hook for $6K if Howard is injured and waived before the regular season, Marks adds (Twitter link).

The Grizzlies waived Howard after reaching a buyout agreement with the veteran center last week. Howard pledged to sign with the Lakers prior to the buyout.

Howard had several meetings with the Lakers, who noted that he had lost weight. Howard also demonstrated that his back was healthy after he only played nine games with the Wizards last season.

The Lakers will have to make a corresponding move, since they already have a full 20-man training camp roster.

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