The deal is for the veteran's minimum of $2.6 million, and it includes a player option for the second year, according to Wojnarowski.
After spending eight-plus seasons with the Boston Celtics to start his career, Rondo has played for five teams since December 2014. This marks the first time since 2013-14 and 2014-15 the four-time All-Star will play for the same team in back-to-back seasons.
The University of Kentucky product was part of the Los Angeles Lakers' failed experiment to surround LeBron James with a number of veterans on one-year deals. He struggled to develop a rhythm because of injuries, appearing in just 46 games.
When Rondo was on the court, his performance was often inconsistent. He averaged 9.2 points and 8.0 assists per game and shot 40.5 percent from the field.
Despite Rondo's rough stats, then-head coach Luke Walton had nothing but positive things to say about the guard.
"He's been a bright spot as far as what we're building and what we're trying to do," Walton told reporters in April. "One of our top priorities with a lot of young guys was to continue to grow them as quickly as possible. And his leadership and the way his teammates look at him and toward him has been great."
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Rondo proved during the 2017-18 season with the New Orleans Pelicans he can still be a solid contributor on a playoff team. He shot 48.7 percent with 11.3 points and 13.3 assists in a four-game sweep of the Portland Trail Blazers in the first round two years ago.
The Lakers needed players to fill out their roster in the wake of agreeing to acquire Anthony Davis from the New Orleans Pelicans as part of a three-team deal that also involved the Washington Wizards. Rondo doesn't have to be a major factor in the rotation for them to succeed next season.
Given how much the Lakers seemed to value Rondo's presence in the locker room and their need for depth, bringing him back makes sense as they try to reach the postseason for the first time since 2012-13.