Spencer Dinwiddie is signing with the Los Angeles Lakers, per Shams Charania of Stadium and The Athletic. He will be earning $1.5 million for the rest of the season, which the team is paying out via the remainder of its mid-level exception.

Dinwiddie joins a Lakers group that's in the hunt for an NBA title with one of the best duos in the league. He'll be a part of a formidable supporting cast that plays alongside LeBron James and Anthony Davis.

The Lakers are currently the No. 9 team in the Western Conference standings, fighting to get within the playoff picture. They've been on the outside looking in for much of the season, but an addition like Dinwiddie adds a massive boost to their depth. It's important for a team like the Lakers to have a plethora of options, especially veterans, because the health of James and Davis is vital. He comes in averaging 13.6 points and 5.3 assists for his career.

Spencer Dinwiddie could provide crucial reinforcements for Lakers

Dinwiddie was one of the best players in the buyout market after being traded by the Brooklyn Nets at the NBA trade deadline and subsequently waived by the Toronto Raptors. He's shown that he can succeed in different offensive schemes, finding a way to make an impact everywhere he goes.

The Lakers appeared to pitch the 30-year-old guard hard, with general manager Rob Pelinka hosting him at Friday's victory over the New Orleans Pelicans. They win the recruiting battle, and Spencer Dinwiddie will now have an opportunity to play meaningful basketball this spring and possibly even compete for a championship.

With James and Davis in Los Angeles, it's a Larry O'Brien or bust. They can't end the season with their heads held high unless confetti falls for an NBA title. Since they couldn't get a deal done in the trade market, buyout contracts could actually determine where the Lakers fall in the standings at the end of the year.