5:49pm: It'll be a non-guaranteed one-year contract for Kelly, tweets Mike Bresnahan of the Los Angeles Times. That means he's essentially no more than a training camp invitee.
3:20pm: The Lakers have officially signed second-round pick Ryan Kelly to a contract, the team announced today in a press release. Kelly had been dealing with foot issues and it was unclear if he'd be healthy enough to join the team this fall, but it looks like he'll get a camp audition, at the very least.
Kelly, the 48th overall pick in this June's draft, played his senior year at Duke in 2012/13, averaging 12.9 PPG and 5.3 RPG in 23 contests. Since the Lakers only have 11 players on fully guaranteed contracts, the 6'11" forward should have a good chance to earn a regular-season roster spot, depending on his health and production in October. In addition to those 11 guys and Kelly, Los Angeles is also bringing Shawne Williams, Marcus Landry, Xavier Henry, and Elias Harris to camp.
Details of Kelly's deal with the Lakers aren't known, but since the team is into tax territory and has used its mid-level exception, it'll have to be a minimum salary contract of some sort for the rookie. It can be for either one or two years, and will likely only have a small partial guarantee.