Los Angeles Lakers overpaid for Luol Deng, according to new report

The Los Angeles Lakers, who have begun the new season with a 11-20 record, overpaid to sign veteran forward Luol Deng, according to a new report.

Deng, a former two-time All-Star, left the Miami Heat and joined the Lakers on a four-year, $US72 million ($AU85 million) contract this offseason. According to ESPN's Zach Lowe, the Washington Wizards were close to signing Deng to a three-year contract until the Lakers nabbed him on Day 3 of free agency.

"The Lakers badly overpaid for Deng; Washington (Wizards) had traction with Deng on a three-year deal worth US$20 million (AU$27 million) less overall than L.A. ended up paying, and was stunned to learn of L.A.'s offer, according to several league sources," Lowe wrote in a report published on Thursday.

The report further added that the Lakers, who also signed Timofey Mozgov to a four-year contract, don't have the needed funds to pursue a max-level free agent next summer. "The disastrous deals for Timofey Mozgov and Luol Deng will make it hard for the Lakers to fit even one max-level deal signed after 2017, and almost impossible to absorb two."

Luol Deng: Did Lakers overpay for forward?

Deng began the season on a shooting slump but has adjusted to coach Luke Walton's run-and-gun offense over the last few weeks. This month, Deng is averaging 10.5 points and 5.5 rebounds while shooting nearly 47 percent from the field as compared to the month of November when he shot a substandard 33 percent from the field for his 6.6 points and 5.2 rebounds per game.

Last month, there were several reports that Minnesota Timberwolves were interested in trading for Deng ahead of the February deadline. Timberwolves coach-cum-president Tom Thibodeau and Deng enjoyed a ton of success during their time together in Chicago.

Bleacher Report's Ric Bucher suggested that Deng-to-Minnesota trade was possible in the near future. "Would the Lakers consider advancing their youth movement and dealing former Bull Luol Deng? Would the Bulls consider parting with Jimmy Butler or Taj Gibson? Where Thibs looks is not certain, nor is who he’d be willing to move. But those in the league who know his hunger to win and win now are convinced he will begin calling around soon, if he hasn’t already."

Needless to say, the Lakers would be thrilled if they can find a taker for Deng's four-year contract. After all, it will help them clear cap room ahead next summer which will feature a loaded free agency class.

Luol Deng is averaging 8.0 points and 5.4 rebounds this season.