Odom Re-signs with Lakers

Sources from within the Lakers' organization have informed me this afternoon that Lamar Odom has agreed on a contract to stay with the Los Angeles Lakers. The deal is for 3 years, $25 million with a team option that could stretch it to 4 years, $33 million. If the Lakers do not exercise the team option during the 4th year, Odom would receive $2 million guaranteed, which would push his deal to 3 years, $27 million guaranteed. This is essentially the same deal that Buss held firm with from yesterday's meeting. I have been told that Odom and his agent changed their minds on accepting the deal shortly after leaving the meeting. It was slightly less than they wanted, but they decided that because Lamar really wanted to stay with the Lakers, they would bite the bullet and take it.

I, for one, am relieved this saga is over and I can fully enjoy the summer knowing the entire team has remained intact, save the Artest for Ariza switch. Thanks to those that have been following the Lamar Odom situation and I hope I have been useful as your connection to the LA Lakers. Cheers.

No Contract Signed But Odom Still Wants to Be a Laker

Sources close to the Lakers' orgnization have informed me tonight that Lamar Odom, Jeff Schwartz, and Jerry Buss held a productive meeting today, although no contract was signed. Buss held firm at his current offer of 3 years, $24 million (with player incentives). Odom stated that he wants to be a Laker, and Buss reiterated that he wants Odom back for next year. There was a positive vibe between the two parties, and they vowed to resume negotiations later this week.

Odom, Schwartz to Meet with Buss Tomorrow Morning

Sources from the Lakers' organization have informed me that Lamar Odom and his agent, Jeff Schwartz, will be meeting with Lakers' owner Jerry Buss on Wednesday morning. The issue at hand will be whether Dr. Buss has agreed to either a) add a 4th guaranteed year to the current offer, or b) revive the original offer of 3 years, $30 million guaranteed. I am being told that if Buss agrees to either of these 2 things, Odom will sign the contract there and then. If not, negotations may be further prolonged until an agreement is reached. Stay tuned tomorrow for updates.

Lamar, Riley, and Wade Meet - Odom Says Thanks But No Thanks

According to sources close to the Lakers' organization, Pat Riley and Dwyane Wade from the Miami Heat formally met with Lamar Odom this afternoon to discuss their contract offer of 5 years, $34 million at the MLE. The result of their meeting was that Odom ultimately said he appreciated their offer but that he would have to decline. He reiterated his love for the city of Miami for giving him a home, and to Riley for giving him his first big contract (of which he is currently coming off of).

However, he felt his best chance to win another NBA championship would be with the Lakers, and that he felt he owed it to the city of Los Angeles to come back for another title run. Odom plans on meeting with Lakers' owner Jerry Buss later this week to finalize contract details. More to come later.

D-Wade Trying to Get Odom to Change His Mind

From Dwyane Wade's twitter:

"I'm in LA to bring Odom back to Miami with me lol lol lol. LA fans dont get mad at me"

Probably doesn't mean anything, but makes me nervous that Wade is trying so hard to convince Odom to go to Miami.

Lakers, Odom Close to a Compromise

Sources from inside the Lakers' organization have informed me this afternoon that there was a telephone conversation between Lamar Odom's agent, Jeff Schwartz, and Laker's owner, Jerry Buss, this morning and that the two parties are close to a compromise.

Buss, who had originally offered a 3 year, $30 million guaranteed contract, has apparently amended his current offer to 3 years, $24 million, with a team option for a 4th year. Odom's agent is seeking for that 4th year to be guaranteed for a total deal of 4 years, $32 million. Odom would rather stay in Los Angeles, according to sources, but the separation between the Lakers' 3-year offer and the Miami Heat's proposed 5-year MLE offer may be enough to prompt Odom to leave.

Buss is reportedly willing to add that 4th guaranteed year that will allow Lamar to accept the Lakers' offer, and this decision will most likely come in the next few days. Stay tuned.

Not So Fast, Miami - Word is Odom Poised to Remain with Lakers

Sources from inside the Lakers organization have informed me that Yahoo's earlier report today that Odom is leaning towards joining the Heat are false. The Lakers and Odom are in the midst of serious negotations at the moment, and the divide between Odom's desired deal and the Lakers' proposed offer is minimal. More information to come later.