The Los Angeles Lakers and LeBron James agree to a two-year extension worth $97.1 million with a third-year option
On Wednesday, Klutch Sports CEO Rich Paul revealed to ESPN that Los Angeles Lakers star LeBron James had agreed to a two-year, $97.1 million contract extension that includes a player option for the 2024-25 season.
It is estimated that James will earn $532 million in career guaranteed money as a result of the extension, which includes a 15% trade kicker, which will make him the highest-earning NBA player in the history of the league, surpassing Brooklyn Nets star Kevin Durant.
The Los Angeles Lakers and LeBron James agree to a two-year extension worth $97.1 million with a third-year option
The No-Trade Clause does not apply to James because he agreed to an extension of his contract, not a new one.
It is likely that James will remain a Laker for as long as he wishes due to the new contract’s starting salary of $46.7 million, the 15% trade kicker, and James’ stature as one of the greatest players of all time.
Having entered the final season of his contract (worth $44.5 million), James will now join All-Star Anthony Davis in being able to negotiate new deals with the Lakers or become a free agent after two seasons with the team.
As a result of this deal, the four-time NBA champion and MVP as well as the 18-time All-Star is no longer at risk of entering free agency next summer.
In spite of the fact that he is approaching 38 years old, James continues to perform at an All-NBA level and is one of the pillars of the Lakers’ contention hopes.
The second year of James’ extension will exceed a 5% raise during the upcoming 2022-23 season, so he will not be able to be traded during that season.
There is a possibility that the Lakers will have upwards of $20 million in salary-cap space in the 2023 offseason, and that a third max contract player could be signed in the 2024 offseason, as well.
If players decline the player options and yet remain on a new contract, the salary-cap space will be increased if they decline option.
Despite turning 38 on Dec. 30, James is only allowed to sign a two-year extension because he will be 38 or older when his current deal expires, a rule in the league’s collective bargaining agreement that prohibits a player from signing a longer deal.
In 2024, Bronny James, James’ eldest son, will be entering his senior year of high school, which will make him eligible to enter the NBA draft for the first time.
It has been repeatedly stated by James that he would like to play alongside his son in the National Basketball Association before he retires.
Although James averaged 30.3 points, 8.2 rebounds, and 6.2 assists per game in 2022, the Lakers were unable to make the playoffs. James was only able to play 56 games due to injuries.