The Associated Press

EL SEGUNDO, Calif. - Gary Payton is set to join the Los Angeles Lakers, and Karl Malone may not be far behind.

The Lakers have been negotiating with Payton over the past several days, general manager Mitch Kupchak said Tuesday.

"It is the Lakers' intention to enter into a contract with Gary Payton once the moratorium period ends. Due to NBA rules regarding free agency I am unable to further comment at this time," Kupchak said in a statement.

With nine-time All-Star Payton teaming up with Shaquille O'Neal and Kobe Bryant, the Lakers would be favored next season to win their fourth NBA title in five years. If two-time MVP Malone also decides to sign, Los Angeles would be even more imposing, featuring four superstars.

Payton and other free agents are not allowed to sign contracts until July 16.

Payton's agent, Aaron Goodwin, told ESPN.com that the longtime member of the Seattle SuperSonics has chosen the Lakers.

"He could have taken a lot more money to go somewhere else," Goodwin said. "But he's going to Los Angeles to follow his dream."

The free-agent guard severed ties with his former team, the Milwaukee Bucks, on Monday.

Payton, dealt by Seattle to Milwaukee at last season's trade deadline, would be limited to earning $4.9 million with the Lakers in the first year of a multiyear contract.

Malone, a two-time league MVP, reportedly has said he'd be willing to take the veteran's minimum salary - $1.4 million - with the Lakers in order to have a chance to win his first NBA championship.

Malone has mentioned San Antonio, Dallas, Sacramento and the Lakers as possibilities. His agent, Dwight Manley said the power forward has narrowed his choices to a handful of teams.

Manley would not identify those but said, "They would probably be the favorite if he were on the team."

Malone met last week with the Lakers, and Manley acknowledged that they were among the teams his client was considering, depending on who else signs with them.

"It's not just the Lakers that Karl is waiting to see what happens. There are other teams," Manley said. "He wants to make an informed decision and not speculate."