Los Angeles Lakers star Russell Westbrook is planning to exercise his $47.1 million option for the 2022-23 season to return to the franchise, sources told ESPN on Tuesday.

Westbrook’s agent Thad Foucher is planning to file the paperwork Tuesday, sources said. Westbrook has a Wednesday deadline on his option.

Westbrook, an eight-time All-Star and 2017 NBA Most Valuable Player, enters the final season of his original five-year, $206 million contract.

The Lakers are counting on Westbrook to have a comeback season under new coach Darvin Ham. Westbrook has told ESPN in recent weeks that he’s enthusiastic about getting to know Ham.

After 11 seasons in Oklahoma City, Westbrook completed his fourth season for a fourth team a year ago — including stops with Houston and Washington. Westbrook, who averaged 18.5 points, 7.4 rebounds and 7.1 assists a year ago, played only 21 games with LeBron James and Anthony Davis, largely because of injuries. The Lakers were 11-10 in those games and finished the season out of the playoffs with a 33-49 record.