The Lakers made the move Wednesday, ensuring they can match any offer sheet Randle signs from another team, starting July 6.
Randle, 23, is coming off his best season with the Lakers, who drafted him with the seventh overall pick in 2014. He averaged a career-high 16.1 points with 8.0 rebounds and 2.6 assists per game while playing in all 82 games.
The Lakers hope to be a major player in free agency next month, so it's unclear whether they will retain Randle. They might need to renounce Randle's rights or otherwise move him to clear salary-cap space for two superstars.