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

Lakers general manager Rob Pelinka and new coach Darwin Hamm contacted Russell Westbrook in recent days about plans to sign the veteran guard to the team's 14th roster spot, sources told ESPN's Adrian Wojnarowski.

Hamm and Schroeder spent five seasons together on the Atlanta Hawks. “We are extremely pleased to welcome Dennis Schroder back to the Lakers," Pelinka said in a statement announcing the signing.

Dennis and Coach Hamm not only share a player-coach history together, they also mirror each other's mentality of toughness with a very competitive edge

Dennis will add both depth to our core at the guard position and an on-ball defensive presence. He is also a proven scorer and playmaker.

We're really excited for Dennis to get to camp and get back to work in LA after a very 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 north of $80 million a season.

He later hit free agency, however, eventually settling on 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.