Lamar Odom will sign a four-year contract, with the fourth year at the Lakers' option.

One source with knowledge of the talks told ESPN.com the four-year deal is worth $33 million if the Lakers exercise the final year of the contract.

Neither Mitch Kupchak or Odom's agent, Jeff Schwartz, commented on the report.

The Heat and Blazers also were interested in Odom.