Free-agent point guard Dennis Schröder announced Tuesday that he intends to sign with the Boston Celtics.

Schröder will join the team on a one-year, $5.9 million contract, a league source confirmed to The Athletic. On a taxpayer mid-level exception deal, he will attempt to resuscitate his value around the league while giving the Celtics more scoring depth behind Jayson Tatum and Jaylen Brown.

“I’m proud to announce that for the 2021-22 season I’ll be playing with the Boston Celtics!” Schröder shared in an Instagram post. “This is one of the best franchises in NBA history and it will be an honour to put on the green and white and do what (I) love. I’m going out there every night and leaving it all on the floor for the city!! Who’s ready?!”

Schröder reportedly turned down a four-year, $84 million contract with the Lakers during this past season, but saw his value crater after that. Early in the offseason, the Lakers agreed to trade for Russell Westbrook, eliminating their need for another point guard. Money then dried up around the league, leaving Schroder to sift through bargain deals. In Boston, he likely saw an opportunity to play big minutes for a competitive team. The Celtics traded Kemba Walker shortly after this past season, leaving an opening at the position. The team envisioned starting Marcus Smart at the spot, according to sources. It’s unclear how this signing could change that plan, but the Schroder opportunity popped up after a more robust market for him failed to materialize. Though there are holes in his game, the Celtics were able to pick up a productive, 27-year-old scorer without touching their salary cap sheet beyond next season.

Ideally, the Celtics would have picked up a more threatening outside shooter. Schröder made 33.5 percent of his 3-point attempts last season. Though he did nail 38.5 percent of his attempts from that distance the previous season, that looks like an outlier compared to the rest of his career. His NBA lifetime 3-point percentage of 33.7 looks ugly, especially when slotted next to Smart and Josh Richardson, who have similar issues that far away from the rim.