The terms of his deal have yet to be finalized, but it is official as of last night. Ron Artest is a Los Angeles Laker. Out with the new and in with the old, the Lakers lost Trevor Ariza to the Houston Rockets and gained a wily veteran in Artest.

At 24 years old, the athletic swingman was key in the Lakers Western Conference Finals run and the 2008-2009 Finals, helping the franchise capture its 15th title in 30 attempts.

Artest’s arrival assures the Lakers of another post presence, three point threat and playmaker. Perhaps more than anything, it will add more toughness to a squad that was often referred to as ’soft’ this past year.

Lakers’ fans were understandably upset at losing Ariza, who grew with the team in the past two seasons, but the team was unwilling to pay him more than the mid level exception of $5.6 million per year.

Artest, whose salary was close to $8 million last year in Houston, accepted the ‘exception,’ emphasizing he’d made enough money during his tenure in the League and is more interested in winning a championship than making a few more million a year.

Artest will be a Laker for the next three years.