Here's an interview Ron Artest did with ESPN.
Thanks to Ramona for transcribing it.

Q: How did (a three-year, $18-million agreement with the Lakers) come about?
A: "I thought i was going back to Houston, but when Yao (Ming) got hurt and my Bird rights were with the Houston Rockets it kind of messed up my chance of going back to Houston. I was a little disappointed Houston offered me a one-year deal, then said, 'David (Bauman, his agent), let's see what options we have and L.A. was the first team to step up and I'm so happy to be here."

Q: On taking a pay cut.
A: "I've made money over my time in the NBA. I lost some money when David Stern suspended me (for 73 games for his role in the 'Malice in the Palace' brawl in 2004-05). That kind of hurt. But I'm playng to win, I'm not playing for the money no more."

Q: What do you need to do for Lakers?
A: "Just fit in and do exactly what's asked of you from coach, and it'll work. That's what I did last year and that's why we were able to exceed all the expectations of everybody and all the doubters out there in Houston."

Q: On his relationship with Kobe Bryant.
A: "Kobe's cool. He reached out to me a couple times. On the court is different. Especially in your opponent. There's no friends out there, no helping anybody up off the floor. I get a chance to play with him, it's going ot be a good feeling. I think it'll develop, but it's been there. It's been there for quite some time. Now that we've got the same purple and gold on, it's going to make it that much better. So I'm looking foward to playing with all the teammates."

Q: Are you confident Phil Jackson will be your coach?
A: "He's my coach. Phil Jackson is my coach. He spoke to my wife earlier. That was a good thing. I appreciate him for doing that. He gets me some cool points with my wife."

Q: Can you win a championship in L.A.?
A: "We can definitely win a championship. Oviously, we have to put that work in and do what it takes to win during the season, build that momentum going towards the playoffs."

Phil Jackson will be back next season. Here's the first few lines of a breaking story from our friends at Lakers.com:

"After receiving results of medical tests, Lakers head coach Phil Jackson has announced he will return to coach the team for the 2009-10 season. 'After consulting with Lakers team internist Dr. John Moe, I feel confident that I can gainfully pursue an NBA season with another long playoff postseason. All things point to go!,' said Jackson.

"Jackson, who just completed his 9th season as head coach of the Lakers and 18th overall as an NBA head coach, concluded the 2008-09 season by leading the Lakers to the NBA championship. With his most recent title, Jackson won his 10th NBA championship, surpassing the late Red Auerbach for most in NBA history. In addition to his most recent title, Jackson won three consecutive championships in his first three seasons (2000-02) as head coach with the Lakers. The fastest coach to reach 1,000 career victories, Jackson's total of 1,041 wins ranks 6th all-time. His .705 winning percentage ranks 1st in league history."

OVERVIEW: Backup guard Sun Yue had a limited impact in his rookie season, averaging 0.6 points and 0.2 assists in 2.8 minutes in 10 games. He also played six games in two stints with the D-Fenders, the Lakers' developmental league team, and averaged 9.8 points and 3.7 assists in 33.3 minutes. Sun then suffered what turned out to be a season-ending sprained left ankle. He is playing with the Chinese national team this summer, rather than joining the Lakers' summer league team in Las Vegas. The Lakers have an Aug. 1 deadline to decide whether to terminate his contract for next season. It's possible they might exercise that option and allow Sun to sign with a team that might give him a better chance to play next season. The Lakers' roster is loaded with talent.

STRENGTH: He's still a relatively young player (23) with obvious skills.

WEAKNESS: Hard to tell since he hardly played at all in 2008-09.

GRADE: Incomplete.

CONTRACT STATUS: Signed through 2009-10 (not guaranteed).

Next: Sasha Vujacic.

Just got a statement from Ron Artest's agent David Bauman.

Washington, DC (July 2, 2009) -- NBA Agent David Bauman announced today that his client, Ron Artest, has agreed to join the NBA Champions Los Angeles Lakers. "I am pleased to announce that my client, Ron Artest, has reached a verbal agreement with the Los Angeles Lakers on a free agent contract. It is Ron's intention to sign a long-term contract with the Lakers on July 8, 2009, once the NBA's signing moratorium has expired, pursuant to the NBA's Collective Bargaining Agreement," said agent David Bauman.

"I am very excited to finally be going to L.A. For years now, the Lakers have expressed interest in having me play for them, but we could never get the stars to align. I'm finally a Laker and I can't wait to get on the court with Kobe, Pau and the rest of the team, and play for Phil," said Artest. "The Lakers really made me feel wanted. I had a great talk today with Phil. I'm a huge fan of his and I can't wait to show him what I can do. I also spoke with Magic Johnson last night. In addition, my agent (David) has been in constant contact with Mitch Kupchak. I made my decision after I had lunch today with Dr. Buss, and I realized what a great organization I'm joining. I'm very, very excited to be a Laker. I look forward to helping the Lakers defend their championship, and it will be great to finally not get booed in the Staples Center."

Check this video out. Ron seems downright giddy and excited to be interviewing Bryant, whom he calls ``one of my idols.''

Free agent Ron Artest has agreed to sign with the Lakers. Don't have many more details, but his agent said he would have a more formal announcement later this afternoon. Artest could fit nicely in the void created by Trevor Ariza's apparent desire to seek a contract elsewhere. Artest probably will play for the $5.6 million mid-level exception. Now, does an agreement with Artest make it easier for the Lakers to re-sign Lamar Odom? Artest and Odom are childhood friends from New York City.

UPDATED: The deal reportedly is worth $18 million over three seasons. There might be an option for a fourth season (and maybe a fifth, too) that might take it to $35 million or so. Details are still a little hazy. Anyway, Artest leaves Houston and Ariza joins Houston.

Trevor Ariza is scheduled to meet with Houston Rockets officials today in Las Vegas as he seeks a new contract. David Lee, his agent, said this afternoon that the meeting with Coach Rick Adelman and General Manager Daryl Morey was "taking place probably as we speak." Lee said his phone has been "ringing off the hook" with teams asking about Ariza. Many had assumed Ariza would re-sign with the Lakers, but that hasn't happened yet.

"The Los Angeles Lakers never offered Trevor a contract," Lee said. "Their response was, 'Go out and find what someone else will pay you and then come back to us.' I don't think he felt appreciated."

Lee said he last spoke to Lakers GM Mitch Kupchak on Wednesday afternoon. He said the Lakers aren't in the picture at the moment, but acknowledged that could change.

OVERVIEW: Backup power forward Josh Powell stepped into a void created when the energetic, funny-loving Ronny Turiaf signed last summer with the Golden State Warriors as a free agent. It was a difficult role to fill, one that wasn't nearly as large as it was while Turiaf was with the Lakers, but the more sedate Powell had his moments. He averaged 4.2 points and 2.9 rebounds in 60 games after signing as a free agent in the summer of 2008. He made one start while Lamar Odom was suspended for a game and scored 17 points and grabbed nine rebounds in the Lakers' victory March 11 over the Houston Rockets. He also averaged 2.1 points and 1.2 rebounds in 14 playoff games.

STRENGTH: Nice, soft touch on his mid-range jump shot.

WEAKNESS: Needs to find ways to get more shots because he's a fine shooter.

GRADE: B.

CONTRACT STATUS: Signed through 2009-10.

Next: Sun Yue.

OK, maybe it's not that late, but there's lots of stuff going down at this hour, none of which I can properly pin down. For starters, it looks like Ron Artest has agreed to a contract with somebody (Cleveland perhaps?), based on a tweet on his Twitter feed. It also looks like Detroit has landed Charlie Villanueva and Ben Gordon. Boston and Cleveland are chasing hard after Rasheed Wallace. ESPN is reporting that the Lakers' Trevor Ariza is on the verge of leaving the team, with an unnamed source saying the small forward is unhappy that the first round of talks hasn't been fruitful. Umm, OK. We'll check more on that one tomorrow. It's been a very long day. Good night.

From a story posted this afternoon by our friends at Lakers.com:

Power forward Josh Powell and center D.J. Mbenga will remain on the Lakers' roster for the 2009-10 season after L.A. opted not to terminate their respective non-guaranteed contracts by the July 1 deadline, according to Lakers spokesman John Black. Powell and Mbenga each had a year left on their contracts, and since neither was acted upon, the 6-10 and 7-0 post players are guaranteed through the coming season.

Powell averaged 4.2 points and 2.9 rebounds in 11.7 regular season minutes and 2.1 points with 1.2 boards in 5.2 postseason minutes during L.A.'s championship run. He showed his value when afforded ample playing time, highlighted by a 17-point, 9-rebound performance on March 11 at Houston when the Lakers were without Andrew Bynum (injury) and Lamar Odom (suspension).

If you missed free agent Trevor Ariza on the radio this afternoon, you didn't miss much. Ariza was interviewed by A Martinez and Steve Lavin on KSPN-710. They tossed a few softballs Ariza's way and he did his best to answer. Nothing earth-shattering.

"It's a business," Ariza said, acknowledging the negotiating process. "It's a business and I have to do what I have to do. It's exciting. I'm learning a lot as I go."

Asked if he would agree to a $50-million deal to stay with the Lakers, Ariza laughed and said, "I'd jump on that in a heartbeat."

Asked if he considered Phil Jackson to be the greatest coach in NBA history, Ariza said, "In my eyes, he'll always be the best because he's the first coach to give me a chance to play (regularly) in the NBA."

Asked about Kobe Bryant's comment that reporters shouldn't worry about Bryant's future with the Lakers but should focus instead on new deals for Ariza and Lamar Odom, which would make the team stronger, Ariza said, "It means a lot to me. I appreciate it."

Free agency began last night and today is the first full day teams can negotiate new contracts with players. But before things really get going and and the jargon starts to get in the way of what really is a simple process, let's take a moment now to note the difference between restricted free agents and unrestricted free agents.

RESTRICTED FREE AGENT
Let's say I have just completed my rookie contract, spending four seasons with the team that drafted me in the first round. My contract expired last night and now I'm a free agent. Other teams can make me an offer and I can agree to sign an offer sheet. My former team can then do one of two things: it can match the offer because that is its right and retain my services or it can say goodbye and good luck with my new team.

UNRESTRICTED FREE AGENT
Let's say I have just completed my second contract with the team that drafted me (or another one, it really doesn't matter in this scenario). My contract expired last night and I'm a free agent for the second time in my career (or third or whatever). Other teams can now make me an offer and I can agree to it and sign it. My former team does not have the right to match it and cannot retain my services. I am now a member of a new team.

That's about as simplistic as I can make it. But you get the idea.

OVERVIEW: Sixth man Lamar Odom accepted a lesser role in order to help the Lakers be a deeper, stronger team. He moved from a starting spot to a backup role to start the season, and then returned to a starting job when Andrew Bynum injured his knee Jan. 31. Then he went back to the bench when Bynum returned to the active roster with four games remaining in the regular season. Odom is nothing if not versatile. He averaged 11.3 points, 8.2 rebounds and 2.6 assists in 78 regular-season games. He then averaged 12.3 points, 9.1 rebounds and 1.8 assists in 23 playoff games. His scoring average was the lowest of his career, but he was never more valuable to the Lakers than in 2008-09. He is an unrestricted free agent and the Lakers hope to re-sign him as soon as possible.

QUOTEWORTHY: "It (the last five seasons) seems like it went by so fast, from not making the playoffs to winning the championship to being an unrestricted free agent with the opportunity to move (to another team). It feels a little surreal."

STRENGTH: Capable of playing all five positions in any given circumstance.

WEAKNESS: Too willing to let others dictate play when he should do it himself.

GRADE: A.

CONTRACT STATUS: Unrestricted free agent.

Next: Josh Powell.

Quick follow up that I was worried would get lost in all the free agency news.

Lakers rookie Sun Yue is playing for the Chinese national team this summer and will not participate in the Lakers summer league.

The Lakers have until the first week in August to extend a training camp invite to Yue. Though they clearly would've preferred to see what Yue could do in summer league, they seem to understand his commitment to the national team.

If Yue is invited to training camp, there is a $100,000 kicker in his contract. If he's on the opening day roster, his contract becomes guaranteed for next year. Though the team is still intrigued by Yue's talent and sees him as a three-year project, that essentially makes it a numbers decision. Roster spots and dollar signs, that is. A lot will depend on just how much they Lakers have to shell out in free agency to keep Lamar Odom, Trevor Ariza and Shannon Brown.

Lakers GM Mitch Kupchak has said that it's more likely the team will go with 13 players next year to help ease the luxury tax burden. If all three free agents are retained, and no trades are made to clear a roster spot, Yue could be left out.

In this case, the Lakers DON'T want the phone to ring. Well, not exactly the phone. But the buzzer outside their offices in El Segundo where a courier would've delivered the certified mail indicating Kobe Bryant had decided to terminate his contract.

Indications are that Bryant is not terminating his contract and will play for $23 million next season, as scheduled.

With some player option contract situations, the player has to exercise his option on the contract. Basically an ``opt-in.'' In this case, it would be an opt-out. Which means no news is good news for the Lakers.

Here's where it gets kind of funny. There was a bit of confusion about the deadline for such action to take place. It's normally 5 p.m. ET but in Bryant's case, according to a Lakers spokesperson, the phrasing is simply, ``by the end of the day.'' The spokesperson said that the Lakers are interpreting that to mean midnight.

I had originally expected Bryant to opt-out and negotiate a new 5-year contract because it makes the most financial sense, with the least risk. But after making some calls around the league, I realize exactly what this is about: Leverage.

Why opt-out now when there is no leverage to be gained? The Lakers would of course give him the max extension without many questions asked. And all indications are that the team is willing to pay to keep free agents Lamar Odom, Trevor Ariza and Shannon Brown.

But next summer -- which had been known as the summer of LeBron (and Dwyane Wade and Chris Bosh, etc) -- there is plenty of leverage to be gained by opting out. Bryant would likely want some say in who the Lakers next coach will be (if Phil Jackson retires), some say in which free agents the team targets the following summer, and... would like to see how the NBA landscape shifts after LeBron & Co. make up their minds. If, for example, LeBron and Bosh head to the Knicks to create a monster team in New York, would Bryant want to stand pat in LA?

By staying with the Lakers another year, Bryant assumes the normal risk of injury, but he gains a ton more leverage for his next contract.

Nothing official from the Lakers as yet, but ESPN.com has just posted a story that says Kobe Bryant will not terminate the final two years of his contract and become a free agent. He had until 9 p.m. tonight to let the Lakers know he would opt out of his deal. ESPN.com quoted unnamed sources. The story also indicated, "The Lakers will work with Bryant over the summer and fall to hammer out a new, long-term extension, according to the source."

UPDATED: Just spoke with Lakers spokesman John Black, who said the team has not heard anything from Bryant so far today. Best best is that the deadline with come and go tonight at 9, and Bryant will still be with the team.

Phil Jackson has yet to formally announce his plans for next season, but one of the potential candidates to replace him --if or when he ever does retire -- seemed to preemtively pull himself out of the running Tuesday afternoon.

Duke coach Mike Krzyzewski told reporters at his annual summer meeting with the local press in Durham, North Carolina that, ``"I'm not going to the Lakers. They have one of the great coaches in the game. I don't know where that rumor started, but there has been nothing done like that, and I'm not leaving Duke. Whatever you hear about anything like that, I will never leave Duke until I leave coaching.''

I know exactly where the rumor has come from. The last time Jackson left the Lakers in 2004, Coach K was Kobe Bryant's first choice as a successor. If Jackson leaves again, you'd better believe No. 24 will have a say in who the Lakers next coach is.

For now though, Coach K sounds like he likes it in Durham just fine.

"Since the Laker thing (in 2004), to hear another rumor like that, not that it's so bad, but I'd rather not go there at all,'' Krzyzewski said. "I don't want my Duke team - not necessarily my basketball team, but my Duke team, the community - to feel like you're looking at other things. I'm getting ready to start my 30th year at Duke, and I don't see the finish line yet. I know the finish line will be there sometime, but it's not in my vision right now.''

Still a couple of hours before free agency begins at 9 tonight. So far, there's nothing to indicate how things might go with any of the Lakers' three free agents. Spoke to Trevor Ariza's agent, David Lee, a little while ago and he's unsure what offers might be made when the negotiating period begins. He expects a call ASAP from GM Mitch Kupchak. Ariza, Lamar Odom and Shannon Brown are unrestricted free agents, free to sign with any team including the Lakers. They say they want to return; the Lakers say they want them back.

Meanwhile, there's no news on the Kobe Bryant front. Bryant can terminate his contract at 9 tonight, becoming an unrestricted free agent. The conventional wisdom is that Bryant won't opt out of of the final two seasosn of his current deal, which pays him roughly $23 million for next season and about $25 for 2010-11. He said several times earlier this month that he intends to remain with the Lakers and has no plans to play elsewhere.

Stay tuned.

OVERVIEW: Backup forward Adam Morrison joined the Lakers in the deal that sent Vladimir Radmanovic to the Charlotte Bobcats on Feb. 7. Morrison only played in eight games with the Lakers, averaging 1.3 points. He didn't play at all during the playoffs and he remains something of a mystery. After sitting out all of 2007-08 because of a knee injury, he quickly became expendable in Charlotte. He hardly played a minute after he was traded to the Lakers and it's unclear what his role might be next season.

STRENGTH: Has the potential to be a fine perimeter shooter.

WEAKNESS: Hasn't accomplished much of anything in three NBA seasons.

GRADE: Incomplete.

CONTRACT STATUS: Signed through 2009-10.

Next: Lamar Odom.

From a story on Reuters: Pau Gasol and Ricky Rubio were included in the Spain squad today for the 2009 European Championship (Eurobasket) in Poland. Gasol has just helped the Lakers win the NBA championship, while 18-year-old Rubio hopes to join him in the United States next season if he can negotiate a release from his contract with his Spanish club team. Rubio was selected fifth in the draft by the Minnesota Timberwolves last week. Spain coach Sergio Scariolo brought in Carlos Cabezas for injured Toronto Raptors guard Jose Manuel Calderon, and Victor Claver for retired captain Carlos Jimenez. World champion Spain was the runner-up to Russia in the last Eurobasket final in Madrid two years ago. This year's tournament is in Poland from Sept. 7-20.