LeBron James signs 2-year, $97.1 million deal with Lakers

LeBron James’ agent announced Wednesday that James signed a two-year, $97.1 million contract extension with the Los Angeles Lakers. The contract will keep him on the team through the 2024-25 season.

The new contract made James the highest-paid player in NBA history. Thanks to the deal, James will receive $46.7 million this season. His extension includes a player option that allows him to remain with the Lakers even after turning 40 in December 2024 or become an unrestricted free agent.

The deal was first reported by NBA insider Adrian Wojnarowski.

“The Lakers could have north of $20 million in salary-cap space in the 2023 offseason and would have the ability to sign a third max contract player in the 2024 offseason,” Wojnarowski said. “The player options increase salary-cap space if players decline them, and yet remain on new deals.”

If everything goes according to plan, James should be able to pass Kareem Abdul-Jabbar this winter as the NBA’s all-time leading scorer. James’ new contract is similar to that of Anthony Davis, which also has the same player option.

James and Davis are looking to lead the Lakers to recover from the injury-plagued 2021–22 season. Despite being close to 38 years old, James is still the Lakers’ main hope.

James’ decision to stay with the Lakers also puts an end to ongoing rumors that he might leave as a free agent or in a trade. James’ contract situation sparked a lot of off-season speculations. Nevertheless, it was unlikely for him to depart from the Lakers after playing for them in the last four seasons of his 19-year career.

His family has been living in Los Angeles, and his oldest son, Bronny, attends Sierra Canyon High School in Chatsworth as a senior and is a potential college basketball player.

James earlier said he wanted to play on the same team as Bronny when his son finally reaches the NBA.