Free agent guard Dennis Schroder is finalizing a one-year, $2.64 million deal to return to the Los Angeles Lakers, his agent, Mark Bartelstein of Priority Sports, told ESPN on Friday.

Lakers general manager Rob Pelinka and new coach Darvin Ham reached out to Russell Westbrook in recent days to tell him that they planned to sign a veteran guard to the team's 14th roster spot, sources told ESPN's Adrian Wojnarowski.

Ham and Schroder spent five seasons together on the Atlanta Hawks.

"We are extremely pleased to welcome Dennis Schröder back to the Lakers," said Pelinka in a statement announcing the signing. "Not only do Dennis and Coach Ham share a player-coach history together, but they also reflect one another's mentality of toughness with an extremely competitive edge. Dennis will add both depth and an on-ball defensive presence to our core at the guard position. He is also a proven scorer and playmaker. We are really excited for Dennis to get to camp and get back to work in L.A. after his highly successful run with his national team this offseason."

Schroder averaged 15.4 points and nearly six assists during his 2020-21 campaign with the Lakers and turned down an extension worth north of $80 million during the season.

He later struck out in free agency, however, eventually settling for a one-year deal with the Boston Celtics for $5.9 million. Schroder produced for the Celtics, averaging 14.4 points and 4.2 assists in 29 minutes per game, but was traded to the Houston Rockets in a deal for Daniel Theis. He played just 15 games for the Rockets.

Schroder, who turned 29 earlier this week, boasts career averages of 14.2 points and 4.7 assists across nine seasons in the NBA. Five of those seasons came with the Atlanta Hawks, were

The news comes hours after Schroder and Germany lost to Spain in a EuroBasket 2022 semifinal game. Schroder, who led all scorers with 30 points in Friday's game, played a key part in Germany's deep EuroBasket run and has it in position to earn a bronze medal with a win over Poland.