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Via Adrian Wojnarowski of Yahoo! Sports:
Free-agent forward Matt Barnes has signed a two-year, $3.6 million contract with the Los Angeles Lakers, league sources told Yahoo! Sports.
The Lakers announced Thursday night Barnes had officially signed the contract. League sources said the deal will pay him $1.7 million next season and give him a player option for $1.9 million in 2011-12.
The Cleveland Cavaliers had guaranteed $7 million over two years with a team option for a third season, but Barnes wanted more guaranteed money to sign with a non-championship contender. Cleveland refused to improve its offer and ultimately was willing to let Barnes go to a lower bidder.