The Los Angeles Lakers announced they have signed Tyson Chandler on Tuesday.

According to ESPN, the Lakers will pay Chandler approximately $2.11million for this season with a cap hit of about $1.33m. He is eligible to be traded February 6, one day before the deadline.

Chandler's contract was bought out by the Phoenix Suns over the weekend, and he became a free agent.

"Having observed our roster for the first 10 games of this young season, one of the areas that Earvin [Magic Johnson] and I discussed with [head coach] Luke [Walton] that we desired to upgrade is interior defense and rebounding," general manager Rob Pelinka said, via the team website. "In Tyson Chandler we addressed that need, and so much more.

"We are excited that Tyson will bring championship-level experience to our Lakers team that will solidify our veteran leadership and help positively shape our young core. We are thrilled for Tyson to join us as we progress towards our ultimate goals as a team."

The Lakers are tied for 23rd in the NBA in opponents field goal percentage (47.6) and 24th in rebound differential as opponents grab 3.8 more rebounds than Los Angeles every game.

Chandler played seven games for the Suns this season averaging 3.7 points, 5.6 rebounds and one block.

The 36-year-old has made one All-Star Game and made the NBA's All-Defensive Team three times. He won the NBA championship with the Dallas Mavericks in 2010-11.

He will join JaVale McGee and Ivica Zubac as centers on the Lakers' roster.