The Los Angeles Lakers officially announced their acquisition of former Houston Rockets point guard Jeremy Lin, while also signing first-round pick Julius Randle to a rookie deal.
The Lakers acquired Lin along with a future first-round pick and a protected second-round pick in exchange for the rights to international player Sergei Lischuk.
Lakers general manager Mitch Kupchak expressed excitement over Lin's arrival, saying that the 25-year-old point guard will make them a better team in the near future.
Kupchak added that the draft picks could also play a big factor in their rebuilding efforts, while also maintaining the team's financial flexibility in hopes of making big signings in the summer of 2015 and 2016.
"This trade allows us to acquire a solid player who will make us a better team, as well as draft picks to improve our team in the future, while at the same time allowing us to maintain financial flexibility," Kupchak said in a statement. "In addition to what he'll bring us on the court, we think Jeremy will be warmly embraced by our fans."
Lin, who averaged 12.5 points and 4.1 assists last season, will be playing in the final year of his contract that pays him around $15 million with a cap hit of $8.3 million.
The former Harvard University standout has been on the trading block over the past several weeks because the Rockets are looking to create cap space to sign a big-name free agent this summer.
Lin was also linked to the Philadelphia 76ers before the Lakers got into the picture. Lin's agent, Roger Montgomery, said that the Lakers have been showing strong interest in Lin over the past several seasons.
"They had interest a few years ago when he was in the summer league and signed with Golden State," Montgomery said via ESPN. "The Lakers were one of three teams that we were talking with, so they did have interest then."
Meanwhile, the Lakers also signed 2015 seventh-overall pick Julius Randle to a four-year rookie deal worth around $13 million with the Lakers holding team option for the third and fourth year of the contract.
The Lakers delayed the signing in hopes of keeping enough cap room to sign a superstar free agent. Los Angeles were in the running for Carmelo Anthony before the All-Star forward decided to return to the New York Knicks.
