Veteran swingman Matt Barnes, one of the most coveted free agents left on the open market, will play for the Los Angeles Lakers.

The Lakers announced Thursday they had signed the free-agent forward. Terms were not disclosed; Yahoo! Sports is reporting that Barnes agreed to a two-year contract worth $3.6 million.

"Its official I AM A LOS ANGLES LAKER. I wanna thank u for all ur patients and understanding. This is a dream come true!!! Good lookn Kobe," said a post on the seven-year veteran's Twitter feed.

The deal is significantly less than the one he reportedly agreed to with the Toronto Raptors on Monday.

Barnes announced Monday night via his Twitter feed that he was headed to Toronto. But that deal quickly unraveled when it became apparent that the limited sign-and-trade options available to Orlando -- Barnes' last team -- would not allow for the contract that Barnes was anticipating.

Under the impression that he would be receiving a two-year contract worth roughly $9 million, Barnes tweeted his thanks to Magic fans after announcing that he'd be "playing for the Toronto Raptors" next season.

The Magic are prevented by salary-cap rules from starting a sign-and-trade deal for Barnes at higher than $1.9 million, because Orlando doesn't have Barnes' full Bird rights after employing him for only one season. A sign-and-trade deal would also have to span at least three years, although only the first year is required to be guaranteed.