No official report has yet been given, but most indications are that forward Derrick Caracter has been waived by the Lakers. From Caracter's Twitter account, he writes:

It's over before it begun!!! But plan doesn't change #IAMGREAT peace Cali

No corroboration past that has been provided but Hoopsworld's Eric Pincus and ESPN's Larry Coon have concluded that this more or less means that Caracter is gone.

Caracter was drafted by the Lakers with the 58th pick in the 2010 draft, and while he demonstrated some decent chops during summer league that year, he failed to make any headway in gaining a rotation spot during the regular season. He proceeded to have an unproductive stint in the D-League and was rather notably arrested for attacking a waitress in a New Orleans IHOP. He apparently put in a fair amount of work at the IMG Academy this last summer, but was unfortunately sidelined with a meniscus injury in training camp. While he has recovered and recently put up a pair of decent performances in the D-League, the team appears to be moving on.

As February 10 is the final day by which players must be waived before their contracts become guaranteed, the Lakers clearly had no intent of keeping Caracter past that point. It also opens up a roster spot, paving the way for either a free agent signing (Gilbert Arenas), a potential trade acquisition (Ramon Sessions) or a 10-day D-League call-up (Elijah Millsap). However this plays out, we will keep you informed of any developments.

UPDATE (12:05 PM): From the reliable Ken Berger of CBS Sports:

In addition to Solomon Jones (Clippers), confirmed the following players have been waived: Derrick Caracter (LAL), Josh Davis (Mem) ...

So there's your confirmation, people.

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In a twist I don't think anybody really saw coming, the NBA announced that Andrew Bynum's five game suspension for treating J.J. Barea like an airborne tackling dummy in the finale of last year's Western Conference Semifinals has been reduced to four games. The decision is strictly logical (or so we're told), with the suspension being cut by 20% because the season was cut by the same percentage.

This is certainly a big, and unexpected, gift under the Lakers' Christmas Tree. Bynum's absence was set to take place during the Lakers' most difficult stretch of the season, at least in terms of games played. The big-man rotation of Pau Gasol, Josh McRoberts and Troy Murphy were all that was available to play 5 games in 7 days, and considering that conditioning has been a major problem with the shortened preseason, one can only imagine the legs on those guys would have been mighty heavy. Now, although 4 games in 5 nights (and three back to back to back) is still a major challenge, the Lakers will spend less than a week having to adapt to a world without their potential All-Star center.

Despite the logical nature of the decision, and despite it's beneficial nature to the Lakers, I can't help but feel a little disappointed in the message being sent by the league. The nature of this decision is all business; it's like Bynum's suspension was a tax bracket that gets reduced because there is less taxable income. The problem with said analysis is that the reason for Bynum's suspension is not business related at all. He's supposed to be missing these games as a punishment because he acted recklessly and dangerously on the court. In the end, the threat of such a long suspension might do the same as requiring the full suspension itself, but what's the point of undermining your own discipline? I don't remember getting grounded for less time in the winter because daylight ended sooner.

In a move to bolster their rather thin frontcourt, the Lakers signed Troy Murphy today to a one year deal for the veterans' minimum. We were aware that this was a possibility since Wednesday, as Murphy had a workout in front of the Lakers' coaches and officials then, and apparently showed enough to get a contract. As we noted in my article two days ago, Murphy is a bit of a reclamation project, as he had a terrible season last year for the Nets and Celtics, but is only one year removed from being a significant contributor for the Pacers. Regardless, his shooting should add a useful element to a roster seriously lacking in that aspect last year, and he is a good complement to Andrew Bynum and Pau Gasol, as his ability to space the floor will give them greater freedom to operate in the post. Moreover, Murphy is yet another in a litany of bigs capable of running the pick-and-pop, a key part of the San Antonio offense Mike Brown will likely incorporate.

As far as the Lakers' rotation goes, Josh McRoberts might see more time at center so Murphy can play at the four, but given that hard positional lineups matter less for backups, it should be somewhat immaterial. Murphy is a fairly brutal defender at either spot, but he does clean up the defensive boards well, a weakness of the Lakers last season, and both Gasol and Bynum should be able to compensate for some of his deficiencies. Seeing as the Lakers will begin the season on a back-to-back-to-back and will have only three true frontcourt players in Gasol, McRoberts, and Murphy due to Bynum's suspension and Derrick Caracter's injury, it is likely that a fifth big is signed sometime before the start of the season to provide spot minutes unless Brown and the front office are comfortable with playing Metta World Peace or Matt Barnes as smallball fours.

Finally, the Lakers, according to ESPNLA's Dave McMenamin, are continuing to monitor free agent point guard Baron Davis, who cleared secondary waivers yesterday, and is looking to sign with either the Lakers, Knicks, or Heat. Although Baron is currently injured and will require some time to recover -- the time of which has been inconsistent between multiple sources; it ranges anywhere from four weeks to ten -- the Lakers have precious other opportunities to improve the situation at point guard, especially with the Sasha Vujacic TPE expiring yesterday. Even with all the concerns about his work ethic and similar, the bottom line is that Baron is a better option than Derek Fisher or Steve Blake, can run Mike Brown's more traditional offense, and as a through-and-through L.A. native, would no doubt relish the opportunity to play for his hometown team. We will keep you updated on any relevant developments.

Follow this author on Twitter @brosales12.

Late afternoon tomorrow we'll have ourselves the full 66-game NBA schedule. For now, we've got a few teasers from Kevin Ding at the OC Register. These include the revelation that the Lakers will open the season with three games in three nights: at home against the Bulls on Christmas Day, then at Sacramento, then back home against Utah. At least everyone's legs will be rested heading into the death march. Andrew Bynum's legs will rested coming out of it as well since he won't be playing in those three games or the two that follow. Way to be there for your teammates, Drew!

Other scheduley items to note:

• The Lakers play in Miami on January 19. By then it'll have been almost three full years since the Lakers defeated LeBron James.
• The Grammy road trip in February will be the longest of the season: six games starting in Denver and ending in Toronto.
• Because of the shortened season the Lakers won't visit the Hawks, Bobcats, Bulls, Cavs, Pacers or Nets.

Apologies to anyone planning a sweet road trip to Charlotte.

Looking for players to fill the spot on the wings behind Kobe Bryant is likely the biggest priority in free agency, first in ensuring that the Lakers' most important player doesn't overburden himself with too many minutes and secondly to solidify the Lakers' bench unit. In that regard, and to kick off what will likely be an epic free agent period due to the compressed schedule, the ever resourceful Adrian Wojnarowski of Yahoo! Sports throws the first salvo for the Lakers:

The Lakers search for perimeter shooting brings free agent Jason Kapono to their facility for a visit today, league sources tell Y!

Kapono is perhaps the most direct way the Lakers could have possibly imagined to solve the dearth of three-point shooting on the team, although perhaps too much so. A career 43.7 3P% shooter, Kapono definitely fulfills the need for a floor-spacing wing, but he's incredibly limited in every other part of his game. Probably as athletic as Luke Walton is right now, bad back and all, Kapono is a brutal defender and rebounder, and giving him minutes requires hiding on him an offensive non-threat. Moreover, teams have had remarkable difficulty in convincing such a good three-point shooter that he should stay behind the line, as he's shot more twos than threes nearly every season of his career. If this reminds you of a certain starting point guard on the Lakers, then you know how incredibly infuriating that can be.

Altogether, Kapono is barely more than an end-of-rotation player nowadays, and he couldn't get minutes on a Sixers team desperate for floor spacing. One can question whether he's a better option than simply playing rookie Andrew Goudelock, who was a lights out shooter at Charleston and would benefit from having some playing time to develop, whether as a situational shooter or occasional backup. In any case, we will continue to keep you updated on any developments that arise.

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As the wheels continue to turn on what has been an offseason chock filled with trade rumors, much to the consternation of Hornets and Magic fans, I think we can all say that we're simply happy to be able to talk about basketball instead of the latest on a soul-crushing and mind-numbing lockout. On that note, we have new information regarding Shannon Brown, whom we reported yesterday had been contacted by the Lakers to gauge Brown's interest in returning. Courtesy of the plugged in and always astute Kevin Ding of the Orange County Register, who discussed the issue with Mitch Kupchak, we can put a damper on that talk:

Kupchak expects Shannon Brown to get a better FA deal away from Lakers. Neither Theo Ratliff nor Joe Smith will return.

The market might determine how this goes, but as we noted yesterday, the Lakers should likely be looking elsewhere to fill the backup two guard spot behind Kobe, partly out of a lack of confidence that Brown is going to recreate his borderline Sixth Man of the Year performance at the start of last season and the fact that there are better options available in free agency. On the subject of free agency, Ding also gave us Kupchak's assessment of what is looking for on the market:

Kupchak is hoping to add a player on back end of career who has already made money, can still offer minutes and wants a title.

For anyone who has watched the progression of contending squads, this is par for the course. Bereft of significant financial flexibility, you open your doors for the ring-chasing vets who will take a discount to chase a title and are still solid rotation players. After the jump, we will go over some of the players the rumor mill has been connecting the Lakers with.

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In news that has been long in the making, ESPN's Marc Stein and Chad Ford, in a report on likely amnesty candidates for every team, have reported that Luke Walton, long beset by various back ailments, is considering retirement due to his doctors recommending that he not continue his basketball career. See for yourself:

The only apparent disclaimer is the possibility that the Lakers could double dip in terms of savings in the form of injury relief should Walton elect to retire, which would then make a subsequent amnesty divorce from the mercurial Metta hard to resist financially. One team insider said that Walton, though just 31, has indeed begun to contemplate retirement because of a debilitating back condition, with Walton himself telling ESPN.com's Andy Katz earlier this summer that he's seen multiple doctors who have advised him to stop playing. So stay tuned.

After a reasonably productive 2006-07 season, Walton earned his much-maligned six year, $30 million dollar contract and various injuries have essentially robbed him of any ability to successfully make a return to that level. To his credit, he has handled his situation with grace and professionalism, and no one can say that he hasn't made an honest effort to do everything he could for the team in his current condition. Coaches and fellow teammates have always praised Walton's basketball IQ, and it appears that he parlayed that into an assistant coach gig with the Memphis Tigers two months ago, for which we only wish Luke the best.

Of course, although the Lakers would welcome the savings they would incur should Walton retire, it would also be beneficial if Walton delayed his retirement so the Lakers could use his contract as trade bait in potential negotiations after the lockout ends. For instance, the suggestion from Hardwood Hype's Emile Avanessian, who graciously wrote an article a few months ago on the possibility of trading for Ramon Sessions, becomes much more of a possibility with Walton's contract now an asset instead of dead weight. As Stein and Ford note, this also may influence the Lakers' use of the amnesty clause that will almost certainly be in the new CBA, as the new targets become Metta World Peace and Steve Blake, whose fates likely depend on who the Lakers acquire in the trade market to be their replacements. If the Lakers consummate the pre-lockout talks for Andre Iguodala, for example, it's a fair guess that MWP will find himself suiting up for another team next season.

In any case, although this is still a report and Walton has not decided on anything, raise a glass for Luke tonight, and give a toast to the latest member of the Laker family who will likely be walking into the sunset. We will keep you abreast of any new developments.

Follow this author on Twitter @brosales12.