July 20: Smart has officially reached a buyout agreement with the Wizards and been placed on waivers, the team announced (via Twitter).
July 19: Marcus Smart has reached an agreement on a buyout with the Wizards and plans to join the Lakers once he clears waivers, according to Shams Charania of ESPN. Smart’s new contract will be worth $11MM over two years and will contain a player option for the second season.
Sources tell Charania that Luka Doncic played a large role in recruiting Smart to L.A. He adds that the Lakers, Suns and Bucks all received permission from Washington to contact Smart, and he had “positive conversations” with all three teams.
The Lakers can use their full bi-annual exception to add Smart, according to cap expert Yossi Gozlan (Twitter link). They’ll have to clear about $4.2MM in salary to have access to the full amount, which may mean parting with Shake Milton, who has a $3MM non-guaranteed salary, and Jordan Goodwin, who only has a $25K guarantee on his $2.35MM salary.
If that happens, L.A. wouldn’t have enough available apron space to sign a 15th man before the start of the season, as Gozlan notes (Twitter link).
Milton’s salary for 2025/26 will become fully guaranteed after Sunday, so the Lakers will have to act fast if they plan to waive him.
If Smart gives back the equivalent of the bi-annual exception in his buyout, the Wizards will be more than $30MM below the luxury tax, Gozlan adds. Washington has its full $14.1MM non-taxpayer mid-level exception remaining, along with $13.4MM and $9.9MM trade exceptions.
Smart, 31, was named Defensive Player of the Year with Boston in 2022, but his career took a downturn after a trade to Memphis in the summer of 2023. Injuries limited him to 39 total games in a year and a half with the Grizzlies before he was sent to Washington in a three-team deal at this year’s trade deadline.
If Smart can stay healthy, he’ll bring much-needed defensive help to the Lakers’ backcourt. He appeared in 19 games with Memphis and 15 games with the Wizards last season, averaging 9.0 points, 2.1 rebounds and 3.2 assists in 20 minutes per night with .393/.348/.761 shooting numbers.
The Wizards have added numerous young players to their roster this summer, so there likely wouldn’t have been regular playing time for Smart, who had a $21.6MM expiring contract. There were rumors last month that Smart was on the trade market, but the Wizards evidently couldn’t find a team willing to take on his salary.