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– Los Angeles Lakers star LeBron James has agreed to a two-year, $97.1 million contract extension that includes a player option for the 2024-25 season, Klutch Sports CEO Rich Paul told ESPN on Wednesday.
– 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.
– James is ineligible for a no-trade clause because he agreed on an extension — not a new deal. But the new contract’s starting salary of $46.7 million, the 15% trade kicker and James’ stature as one of history’s great players likely make him a Laker for as long as he chooses.
Also Read: LeBron James ‘having the time of my life right now,’ nets 38 vs. former team
BREAKING: Los Angeles Lakers star LeBron James has agreed on a two-year, $97.1 million contract extension – including a player option for the 2024-2025 season, @KlutchSports CEO Rich Paul tells ESPN. James had been entering final year of deal worth $44.5M.
— Adrian Wojnarowski (@wojespn) August 17, 2022
– James had been entering the final season of his contract (worth $44.5 million) and now joins All-Star Anthony Davis with the ability to negotiate new deals with the Lakers or become free agents in two seasons.
Congrats @KingJames on your 2 year 97.1M dollar extension and becoming the highest paid player in the history of the NBA! #Klutch pic.twitter.com/FAF3JaA0zs
— Klutch Sports Group (@KlutchSports) August 17, 2022
– With the deal, the four-time NBA champion and MVP and 18-time All-Star eliminates concern that he could enter free agency next summer. Despite approaching 38 years old, James remains an All-NBA-level player and the centerpiece of the Lakers’ contention hopes.
– 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.
– James, who turns 38 on Dec. 30, is limited to signing 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.
– James’ eldest son, Bronny, is entering his senior year of high school, making him NBA draft-eligible in 2024. James has repeatedly stated his desire to team up with his son on an NBA roster before he retires.
– The Lakers missed the playoffs in 2022, despite James averaging 30.3 points, 8.2 rebounds and 6.2 assists. Injuries limited James to 56 games.
