These sources said that a one-year deal is about to be finalized between Yi and the Lakers. The deal is said to amount to $8 million.
Yi's decision to join the Lakers was supported by the Guangdong Tigers of the Chinese Basketball Association. The player spent four seasons with the Tigers.
In a statement, the Guangdong Tigers said, "In order to help Yi seize this opportunity to play at the highest stage of (the basketball) world and unfold his capability, and in order to help Yi fulfill his dream and goal, we are offering our unconditional support and cooperation to Yi to make sure he joins the Lakers. Best wishes to Yi for his bright future in the NBA."
The American basketball team tried to get Yi last summer but was unsuccessful. Their successful attempt is now known to close, just as Yi gave an excellent performance during the Rio Olympics.
He is a forward who averaged 20.4 points and 6.6 rebounds for China in its five games in the current Olympic games including 25 points and six rebounds in the match against the United States.
Yi became a top player when Yao Ming was forced to retire due to a severe foot injury in 2011. Between 2007 and 2011, he played for four teams.
In China, Yi was voted CBA rookie of the year. He led the Tigers in winning three titles in his first four years with the team.
Other players who were being eyed by American teams are Zhou Qi and Wang Zhelin, who were picked up by Houston and the Memphis Grizzlies, respectively.
Both players did not express interest in moving to the NBA.