Why the Lakers signed and released a player within 24 hours is explained

Fans craving the latest Lakers news may have noticed Wednesday night that the team signed Vincent Valerio-Bodon to an Exhibit 10 contract. He's another player who can make the training camp roster and a player who played with South Bay last season.

Those same fans probably also saw that they waived Valerio-Bodon on Thursday, less than a day later.

This move may seem confusing: Why would you sign a player and then release him within 24 hours?

Simply put, an Exhibit 10 deal is a contract that gives the player who signs it an additional bonus if he signs with the franchise's G-League affiliate, in this case the South Bay Lakers.

By signing Valerio-Bodon to this contract and immediately releasing him, the Lakers will be able to play for the South Bay Lakers for more money than would be possible if he had signed directly with the South Bay team.

This is a win-win situation for both sides. The Lakers keep a player they are interested in, and Valerio-Bodon gets a little extra money for staying with the South Bay Lakers.

Valerio-Bodon is no stranger to the G-League. Last year he played for the South Bay Lakers and averaged six points, 2.4 rebounds and 1.3 assists in his 25 games.

He also participated in the Summer League for the Lakers and averaged 4.5 points, four rebounds and 1.3 assists in five appearances.

This isn't the only Exhibit 10 deal the Lakers have made this summer. The team signed Kylor Kelley, Quincy Olivari and Jordan Goodwin to training camp contracts with the main roster. However, those players have not been released yet.

However, that's likely their fate, as Los Angeles already has 15 guaranteed contracts, so unless someone plays exceptionally well and forces the franchise to create space by trading or releasing a player, a main roster spot for an Exhibit 10 player playing on the Lakers is unlikely, and the G-League is the best-case scenario.

So there you have it. This is why the Lakers signed and released Valerio-Bodon in the space of a day. So the next time someone claims that vice president of basketball operations Rob Pelinka doesn't work hard, explain to them the intricacies of an Exhibit 10 contract and you'll completely outsmart them.

You can follow Edwin on Twitter at @ECreates88.