The LA Times writes: Malone faxed his signed contract, a two-year deal worth about $3.2 million, from his Arkansas ranch. Payton has a two-year contract worth $10.4 million. He can opt out after the first season.
Here is the rest of that article: http://www.latimes.com/sports/la-sp-lak ... nes-sports
Oh wait there's more:
The LA Daily News reports: Payton and Malone will be introduced as Lakers in a news conference Thursday at 10 a.m.
Malone signed a two-year contract worth $3.15 million. It is believed the second year is at his option.
Payton signed for the mid-level exception, which the NBA announced Tuesday would be $4.917 million next season. The length of his deal was not clear, but Payton had been seeking a one-year deal, with a second-year option, for a possible $10.3 million over two years.
Because Payton is still hoping for one more big payday, it is believed he wanted a short deal, with the option of becoming a free agent again next summer. The Lakers were willing to give him a long-term contract, worth $22.6 million over four years.
The rest of the article is here: http://www.dailynews.com/Stories/0,1413 ... 38,00.html
Hey I'm sorry but I didn't mean to put a damper on our midnight celebration. With both Malone and Payton having player options on their second year, neither or both of them could opt out of their second (final) year and hit the FA market for more money. If we win the championship this year, they will already have their rings and just might go get more money...In Karl's case he can go back to Utah and get his scoring title too (even though I have a gut instinct he'll finish it out here) We all love GP, but face it...he is also in it for the money...especially after he gets his ring. If we don't offer more next season...I believe he's gone. He would finish up his contract and we would probably re-sign him for more money till he retires. That still sounds bad...having a washed up Glove and paying him all that money. I just hope both finish up their 2 years and Malone retires a Laker earning his scoring title and GP signs on for one more year before he retires as well. But I'm looking too far ahead. Well anyways like everything that is too good to be true....here's the catch