Jordan Farmar signs a one-year deal with Lakers

Jordan Farmar has agreed to sign with the Los Angeles Lakers, the veteran guard told ESPNLosAngeles.com Tuesday night.

The sides agreed to a one-year, veteran minimum deal worth approximately $1 million. L.A. must first negotiate a buyout with Farmar's club in Turkey, Anadolu Efes, which is believed to be in the $500,000 range. The buyout does not count against the salary cap, an important detail to the luxury tax-laden Lakers.

The deal required a significant financial sacrifice by Farmar to be completed. The 6-foot-2, 180-pound guard signed a three-year, $10.5 million deal last summer to play in the Turkish Basketball League.

"They knew about my deal overseas and really didn't push it earlier because they didn't think I'd be willing to give up that guaranteed money I had over there," Farmar said in a phone interview with ESPNLosAngeles.com. "I wanted to be back in the NBA, but more importantly, back with the Lakers. This is the only situation I would have taken a minimum deal with."