The Los Angeles Lakers and veteran forward Luol Deng agreed to the terms of a buyout deal on Saturday morning, opening up even more cap space for next season. At this moment, it's unclear where Deng will be playing next.

However, according to a report from ESPN's Chris Haynes, the former No. 7 overall pick is expected to garner interest from several contending teams around the league.

Los Angeles was projecting to have $25 million in salary-cap space for next season. That number will increase to the $36-38 million range once the Deng buyout is completed, giving the Lakers room for another max-contract player next summer.

Deng will enter free agency and command interest from several contenders, sources said.

Deng, now 33 years of age, had two years left on his four-year, $72 million deal that was signed in 2016. Deng barely played last season as the Magic Johnson-led Lakers were looking to develop their young talent, and the forward wasn't in the team's plans for 2018-19 either after signing LeBron James and a bunch of other veterans. With Deng wanting a better opportunity and the Lakers getting extra cap space for 2019, this move makes sense for both sides.

Deng has played for several teams over the course of his 14-year stint in the NBA, including the Chicago Bulls, Cleveland Cavaliers, Miami Heat, and Lakers. The two-time All-Star holds career averages of 15.0 points on 45.5 percent shooting from the field (33.2 percent from beyond the arc), 6.1 rebounds, 2.3 assists, and 1.0 steal in 34.7 minutes per game.