The Los Angeles Lakers re-signed free agent guard Kentavious Caldwell-Pope to a three-year, $40 million deal on Saturday.
Caldwell-Pope, known as "KCP," was a key contributor to the Lakers championship run during the 2019-20 season.
Caldwell-Pope shot 42 percent from the three-point line during the Lakers playoff run, and was often the third leading scorer behind Anthony Davis and LeBron James in their six-game NBA Finals series against the Miami Heat.
Earlier in the week, KCP opted out of the final year of his contract, but made it known that he was interested in re-signing with the Lakers on a longer and more lucrative deal.
KCP reportedly had offers on the table from other teams, including the New York Knicks, but the Lakers made it a priority to bring back the two-way guard.
James, who is represented by the same agent as Caldwell-Pope, tweeted at KCP after the announcement was made public.
Caldwell-Pope was selected by the Detroit Pistons with the eighth overall pick in the 2013 NBA Draft, and spent four seasons in Motor City before signing with the Lakers in 2017.
The return of KCP likely means the Lakers are out on free agent Bogdan Bogdanovic, another player they were interested in during free agency.
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In the last 48 hours, the Lakers have traded for guard Dennis Shröder, signed veteran Wes Matthews, and reigning Sixth Man of the Year Award winner Montrezl Harrell. Among the notable departures from the championship team are Danny Green, Dwight Howard, Rajon Rondo, Avery Bradley, and Quinn Cook.