The Lakers began their revamping process, signing Mitch Richmond and Samaki Walker to contracts today.

Terms were not announced, but it's generally accepted that Richmond signed a 1-year contract worth $1 million, the minimum salary based on his service in the league.

Walker gets a 1-year contract with an option for a second year, likely at the team's option. Reports speculated that the Lakers would sign Walker with the $1.3 million exception.