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Lakers sign veteran Dinwiddie

Al Bello / Getty Images Sport / Getty

The Los Angeles Lakers signed guard Spencer Dinwiddie, the team announced Saturday.

"Spencer is returning to his roots and the city where his journey began," Lakers general manager Rob Pelinka said in a statement. "We welcome him back to his hometown of Los Angeles. We are thrilled for him to wear the iconic Lakers uniform in front of his family and friends. His play-making and aggressiveness from the guard position provides us valuable depth as we continue our strong push toward the back-half of the season. Spencer adds a wealth of experience to our roster and brings proven success in the postseason. Welcome home, Spencer."

Multiple contenders were courting Dinwiddie after he was placed on waivers by the Toronto Raptors on Thursday - immediately after he was acquired from the Brooklyn Nets. His former employers, the Dallas Mavericks, were reportedly one of several teams vying for his signature.

The move comes a day after the 30-year-old was seen seated with Lakers general manager Rob Pelinka during the team's 139-122 win over the New Orleans Pelicans.

Dinwiddie tallied 12.6 points, six assists, and 3.3 rebounds per game in 48 starts in Brooklyn this season. His addition provides L.A. with another experienced ball-handler behind D'Angelo Russell, which they critically need with point guard Gabe Vincent still out following arthroscopic knee surgery in late December.

The Lakers reportedly weren't close to pulling off a trade at the deadline despite their precarious placement in the Western Conference and the pressures of trying to win now with a 39-year-old LeBron James, who can elect to become a free agent this summer.

Pelinka said following Thursday's 3 p.m. ET deadline that the prices on players they were interested in were "very, very aggressive," with reports that the Lakers felt that teams were asking more from them than they would other organizations. He added that the Lakers would be active in the buyout market, with Dinwiddie said to be one of their top targets.

Several other veterans were waived Thursday and remain available on the buyout market, including Furkan Korkmaz, Joe Harris, Cory Joseph, and Thaddeus Young. Kyle Lowry, who was traded by the Miami Heat to the Charlotte Hornets on Jan. 23 but has yet to play for the latter, is also widely expected to be bought out.

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