Stunning deal on the first day of NBA free agency is the perfect example of the absurd amount of money that's going to be thrown around

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The Los Angeles Lakers made the first shocking move of NBA free agency, signing Russian seven-footer Timofey Mozgov to a whopping four-year, $64 million contract.

The Vertical's Adrian Wojnarowski first reported the deal in the early hours of Friday morning.

Mozgov, who averaged 6.3 points, 4.4 rebounds, and 17.4 minutes during the season with the Cleveland Cavaliers and struggled to even see the floor during much of this year's playoffs, will make an average $16 million per year in Los Angeles.

NBA free agency is officially bananas - and it's only the beginning.

With the salary cap rising to a never-before-seen level, teams are lining up to sign players to contracts that will inspire double takes. If Mozgov, who averaged just five minutes per game during the playoffs, is set to make $16 million per year, imagine what contract someone like Dwight Howard might get.

Joakim Noah, another big man, is reportedly in talks with the Knicks to make $72 million over four years. Hassan Whiteside, who will return to the Heat, is expected to make around $100 million.

Earlier this week, Business Insider's Scott Davis ranked the top 31 free agents. Mozgov did not even make that list.