LeBron James has agreed to a two-year, $97 million contract extension with the Los Angeles Lakers. The news was reported by Adrian Wojnarowski of ESPN. The deal will keep James with the Lakers through 2024. The contract also has a third year player’s option. If exercised, it would extend James’ tenure in L.A. through 2025.
Wojnarowski offers details on the extension and how it cements James’ place in league history:
The extension, which includes a 15% trade kicker, makes James the highest-earning player in NBA history with $532 million in career guaranteed money, surpassing Brooklyn Nets star Kevin Durant.
He also speaks about the implications for the franchise:
James is ineligible to be traded during the upcoming 2022-23 season because the second year of his extension exceeds a 5% raise.
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. The player options increase salary-cap space if players decline them, and yet remain on new deals.
The Lakers missed the playoffs last season. They will try to recover with James, who currently stands alongside Anthony Davis and Russell Westbrook in their three-star roster.