The Lakers signed Caldwell-Pope to a two-year deal worth $16.6 million in July 2019, but he turned down his player option for 2020-21 worth $8.5 million. He previously played on one-year deals in each of his first two seasons with the team.
Last season was the most efficient year of his NBA career. He had his lowest scoring average (9.3 points per game) since he was a rookie in 2013-14, but he shot a career-high 46.7 percent overall and 38.5 percent from three-point range.
Los Angeles' offense was primarily a two-man show between LeBron James and Anthony Davis in 2019-20. Kyle Kuzma was the only other player to average at least 10 points per game, while Caldwell-Pope ranked fourth on the team in scoring.
Per Basketball-Reference.com, the Georgia product's 1.9 defensive win shares ranked second among the Lakers guards.
Given how the L.A. roster has been constructed around Davis and James, Caldwell-Pope looked remarkably comfortable with the organization last season. The formula worked to perfection, with the team winning the NBA Finals by beating the Miami Heat.
His shooting ability and defensive skill set makes him a good fit for the Lakers as they prepare to defend their championship. Retaining him continues a strong Lakers offseason that has included the acquisitions of Dennis Schroder and Montrezl Harrell.