Free agent Ron Artest has agreed to sign with the Lakers. Don’t have many more details, but his agent said he would have a more formal announcement later this afternoon. Artest could fit nicely in the void created by Trevor Ariza’s apparent desire to seek a contract elsewhere. Artest probably will play for the $5.6 million mid-level exception. Now, does an agreement with Artest make it easier for the Lakers to re-sign Lamar Odom? Artest and Odom are childhood friends from New York City.

UPDATED: The deal reportedly is worth $18 million over three seasons. There might be an option for a fourth season (and maybe a fifth, too) that might take it to $35 million or so. Details are still a little hazy. Anyway, Artest leaves Houston and Ariza joins Houston.