Veteran point guard Dennis Schröder has found a new home this offseason, agreeing to sign with with the Toronto Raptors on a two-year, $26 million deal, per ESPN's Adrian Wojnarowski.

Schröder had signed a one-year deal with the Los Angeles Lakers last offseason, marking his second stint with the team after he spent the 2020-21 campaign with the Purple and Gold as well.

This past season, Schröder appeared in 66 games with 50 starts and averaged 12.6 points and 4.5 assists in 30.1 minutes. He helped the Lakers finish with a 43-39 record and reach the Western Conference Finals before being eliminated by the Denver Nuggets.

The 2023-24 season will be Schröder's 10th in the NBA. The 29-year-old entered the league in 2013 as a first-round pick by the Atlanta Hawks. He spent the first five years of his career with the team before being traded to the Oklahoma City Thunder, with whom he spent two seasons. After his first run with the Lakers, he split the 2021-22 season between the Boston Celtics and the Houston Rockets.

Schröder is a reliable point guard who can thrive both as a starter or a rotation player coming off the bench. Signing him gives the Raptors some cover and insurance for the recently-departed Fred VanVleet, who signed with the Rockets on Friday.