The Lakers waived guard Shake Milton to make room for Smart once he officially signs with the team.
This will make it Smart's third team in two years. If he decides to wear his number 36, he will be the first player in the entirety of Lakers history to wear it.
Other teams included in the sweepstakes for Smart were the Milwaukee Bucks and Phoenix Suns.
Smart hasn't averaged more than 10 points per game in a season since the 2023-2024 season with the Memphis Grizzlies. He averaged 9.0 points, 3.2 assists, and 2.1 rebounds per game last year as a member of the Grizzlies and Wizards.
The 11-year veteran was traded to the Wizards as part of a three-team deal with the Grizzlies and Sacramento Kings that also brought over Colby Jones (via Kings), Alex Len (via Kings), and a 2025 first-round pick (MEM).
Smart is a three-time All-Defensive team selection, even winning the 2021 Defensive Player of the Year award. The former Wizard and sixth overall pick in the 2014 NBA Draft shot a career-best three-point average (44%) in the second half of the 2024-2025 season.