The Lakers, who have been searching for a third point guard, were brought up as the best option for Rondo if a buyout did occur.
Now that the Grizzlies and Rondo have finalized the buyout, Rondo will go through waivers on Monday. Once cleared, he'll likely head back to the Lakers, according to Adrian Wojnarowski of ESPN:
Rondo will likely sign for the minimum and be a backup to Russell Westbrook and Kendrick Nunn, the two primary options at the point.
Rondo played a key role in the 2019-20 championship run with the Lakers as a facilitator who relieved the pressure off of LeBron James and Anthony Davis, and that experience may be counted on again if L.A. makes another playoff run.