The Los Angeles Lakers finally signed 2014 first-round pick Julius Randle to a contract after delaying the process while waiting for a possible big free agent signing.

Randle, who was the seventh-overall pick in this year rookie draft, signed his rookie contract on Sunday, several days before losing out in their bid to acquire free agent superstar Carmelo Anthony, who decided to return to the New York Knicks.

The Lakers delayed the signing of Randle's rookie contract because they wanted to keep the former Kentucky standout's salary off their books in case they get a commitment from Anthony.

Randle, who averaged 15.0 points and 10.4 rebounds in his lone season at Kentucky, signed a four-year deal worth approximately $13.5 million with team options for the third and fourth year of the deal.

The 19-year-old forward then made his Lakers debut in the 2014 Las Vegas Summer League. Randle, who missed the team's first game against the Toronto Raptors due to his contract situation, finished with 10 points and two rebounds in 21 minutes in their 90-73 loss to the New Orleans Pelicans.

Meanwhile, the Lakers also officially announced their acquisition of Jeremy Lin, who will move to Los Angeles after the Lakers struck a trade with the Houston Rockets.

The Rockets traded Lin along with a 2015 first-round pick and a protected 2015 second-round pick in exchange for the rights to Sergei Lischuk, who was sent to the Lakers in a 2011 trade with the then-New Jersey Nets.

Lakers general manager Mitch Kupchak said that Lin will make them a better team, while the draft pick would help them in their rebuilding efforts. The deal won't affect the Lakers' financial flexibility as well because Lin's contract -- around $15 million with $8 million cap hit next season -- will expire next summer.

"This trade allows us to acquire a solid player who will make us a better team, as well as draft picks to improve our team in the future, while at the same time allowing us to maintain financial flexibility," Kupchak said in a statement. "In addition to what he'll bring us on the court, we think Jeremy will be warmly embraced by our fans and our community."

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