Gabe Vincent and the Los Angeles Lakers have agreed to a 3-year, $33 million deal, per multiple sources.

After going undrafted out of UC Santa Barbara in 2018, Gabe Vincent turned into an instrumental part of the Miami Heat's run to the 2023 NBA Finals. He created a vast market for himself in free agency and has cashed in on his success with a new contract from the Lakers. Vincent's departure from Miami had been widely anticipated for days leading up to free agency, especially given that the market for guards was lower than usual this offseason.

Vincent's signing means the Lakers likely will not have the money available to retain Dennis Schroder. The Lakers had $12.4 million available via the non-taxpayer midlevel exception, but a large chunk of that will be going to Vincent. Los Angeles can still exceed the cap to keep Austin Reaves, Rui Hachimura, and D'Angelo Russell, though the addition of a point guard in Vincent renders DLo's status up in the air.

Gabe Vincent's fit with Lakers

As a hard-nosed guard with proven playoff chops who can score from the perimeter and create for his teammates as a lead ball-handler, Vincent is precisely the type of player Rob Pelinka talked about prioritizing in free agency. The Lakers were targeting Bruce Brown Jr., and signed tough 3-and-D wing Taurean Prince at the outset of free agency.

Vincent, 27, is entering the prime years of his career and is coming off his best season since entering the league. In 68 games this past season (34 starts), he averaged 9.4 points and 2.5 assists per game. Starting all 22 playoff games, Vincent averaged 12.7 points and 3.5 assists per game while shooting 37.8 percent from three-point range.

Like the Heat, the Lakers have a history of developing undrafted players, such as Reaves and Alex Caruso.