The Golden State Warriors have landed a proven power forward without giving up guard Monta Ellis.
Lee's new contract is expected to be for $80 million, according to New York-based sports media outlets who confirmed the deal on Thursday night.
If the Warriors season began today, they would have Stephen Curry and Ellis in the backcourt, with the 6-foot-9 Lee and 7-foot Andris Biedrins up front.
The club is still without a true small forward, but NBA Development League escapee Reggie Williams averaged 15.2 points per game down the stretch and the 6-foot-6, 23-year-old out of the Virginia Military Institute could help fill that hole.
With some teams now scrambling to fill rosters after clearing salary cap and roster space in an attempt to sign LeBron James, the Warriors could be in position to make more moves, including a possible deal that would include Ellis and his $11 million contract.