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The Chairman is back: Lakers officially sign Yi Jianlian

The Los Angeles Lakers put to rest rumors they were in talks with Yi Jianlian by announcing the signing of the Chinese center on Tuesday.

"We’re excited to have a player of his worldwide accomplishments," Lakers general manager Mitch Kupchak said. "We look forward to bringing him to training camp and hopefully having him make an impact on our team."

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According to the L.A. Times, Yi's deal is for one year at the veteran's minimum of $1.1 million, but incentive bonuses could push the value up to $8 million.