Jul 04, 2009 8:49 AM EST

The Lakers still want Lamar Odom back, but the free-agent forward will have to lower this asking price.

Odom is believed to be looking for $10 million annually, but the Lakers are already about $10 million into the luxury tax.

Luxury tax is paid for in a dollar-for-dollar penalty, so signing Odom for $10 million next season would result in a bill of $20 million.

The Los Angeles Times suggested a compromise on Friday night. The Lakers can sign Odom to a one-year deal worth $7.5 million, allowing him to test free agency again next summer.

Via Los Angeles Times