Kyle Lowry is on the move again.

The Charlotte Hornets veteran agreed to a buyout with the team on Saturday and is signing with the Philadelphia 76ers for the remainder of the 2023-24 campaign for $2.8 million, according to ESPN's Adrian Wojnarowski.

Lowry, who is from Philadelphia and played college basketball at Villanova, "long hoped to return to Philadelphia to join the Sixers," Wojnarowski added.

The move doesn't come as much of a surprise. It always seemed inevitable that Charlotte was only a temporary home for the veteran point guard after the Miami Heat traded him and a 2027 lottery-protected first-round pick to the Hornets for Terry Rozier in late January.

Charlotte and Lowry aren't on the same timeline—the Hornets are rebuilding around LaMelo Ball and Brandon Miller and didn't have much of a need for a veteran point guard outside of the potential for Lowry to serve as a mentor.

But the 37-year-old Lowry doesn't have many years left, and the chance to chase a title with a contending team always made more sense for him.

Just how much quality basketball is left in his tank remains to be seen, however. He started the first 35 games of the season for the Heat before eventually being moved to the bench, a sign that his time in Miami was coming to a close. In total for the Heat, he averaged just 8.2 points and 4.0 assists per game, shooting 42.6 percent from the field and 38.5 percent from three.

In his prime, Lowry was a six-time All-Star and a solid playmaker and floor-spacer who provided dogged defense. He's no longer that player, but a contending team may gamble on his turning back the clock for perhaps one last title run.

The veteran will be expected to pair with Tyrese Maxey in Philly's backcourt. It's hardly a season-altering move, and there remains uncertainty about Joel Embiid's playing status for the rest of the year, as the star big man is out with a knee injury.

But Lowry brings championship pedigree, plenty of familiarity with head coach Nick Nurse from their time together in Toronto and solid depth to Philly's bench. In that regard, he's a solid addition for the Sixers.