Cook currently has a $1MM partial guarantee on his $3MM cap hit for next season. If he remains on the roster, that figure becomes fully guaranteed, so the Lakers will let him go before that happens, creating at least $2MM in cap flexibility. If the club decides to stretch Cook’s $1MM guarantee over three seasons, it would open up an extra $667K.
Cook, who signed with Los Angeles as a free agent during the 2019 offseason after two years in Golden State, didn’t have a major role for the Lakers. He averaged 5.1 PPG, 1.2 RPG, and 1.1 APG in 44 regular season games (11.5 MPG) and then logged only 24 total minutes during the team’s postseason run.
Assuming Cook clears waivers this weekend, he’ll be free to sign with any team as an unrestricted free agent.