ESPNLosAngeles.com's Ramona Shelburne reported Thursday that the deal was a two-year contract worth $4.6 million, according to Brown's agent, Mark Bartelstein.
"Shannon could have made more money somewhere else, but I think he really wanted to play this out with the Lakers," Bartelstein had said Thursday. "They've won it [all] two years in a row and the chance to win three straight [championships] doesn't come around every day."
He averaged a career-high 8.2 points, 2.2 rebounds and 1.3 assists playing in all 82 regular-season games, including seven starts last season. During the Lakers' run to the NBA championship, Brown averaged 4.9 points and 1.3 rebounds.
General manager Mitch Kupchak says the Lakers were aware that Brown had several attractive offers from other teams and they're glad he chose to remain with them.
Brown had opted out of the second year of his previous deal with the Lakers, which would've paid him $2.15 million next season. He will again have a player option in the second year of this contract.
"It's time to go get number 3," Brown had said Thursday via text message when asked about the new deal.
Brown has won two NBA titles since being acquired by the Lakers in February 2009 as part of a trade with the Charlotte Bobcats.
Information from The Associated Press was used in this report.
