The Los Angeles Lakers declined Malik Beasley's $16.5 million team option for 2023-24 before Thursday's deadline, thereby rendering Beasley an unrestricted free agent.
The decision came shortly after the Lakers waived Mo Bamba's $10.3 million non-guaranteed contract for next season (Bamba was seen working out the team's facility in Lakers gear this afternoon).
Both moves were expected. The Lakers are now under the $172 million luxury tax threshold, enabling them to use the full non-taxpayer midlevel exception in free agency (estimated at $12.4 million) and the bi-annual exception ($4.5 million). The Lakers are reportedly confident they can sign Bruce Brown via the NTMLE. They also want to re-sign Dennis Schroder. Eric Gordon, Brook Lopez (!), Cam Reddish, and Donte DiVincenzo are options, too. The Lakers could use a portion of the NTMLE or the bi-annual to bring back Lonnie Walker IV.
The Lakers could have dealt Beasley and/or Bamba on draft night or retained their contracts as trade pieces down the road. The Lakers will keep in touch with both players' agents and could bring them back under reworked contracts, according to ESPN's Dave McMenamin.
Beasley, 24, averaged 11.1 points in 26 games (14 starts) after being acquired at the trade deadline from the Utah Jazz. He never found his groove from 3 (35.4%) and fell out of the playoff rotation. Even if the Lakers want Beasley back — they still need shooting — $16.5 million is too expensive considering his up-and-down production.
For his career, Beasley has averaged 10.8 points on 37.8% 3-point shooting.
The team also waived Shaquille Harrison, who was signed on the final day of the regular season.
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