According to numerous reports on Wednesday, LeBron James and the Los Angeles Lakers have reached an agreement on a two-year NBA contract extension worth $97.1 million.
According to ESPN and The Athletic, the agreement includes a player option for the 2024–25 season, when James’ 17-year-old son Bronny may make his NBA debut.
The superstar forward’s contract may be worth $111 million if the NBA salary cap significantly increases for the 2023–24 season.
James would receive a total guaranteed lifetime income of $532 million under the terms of the agreement, surpassing Kevin Durant’s previous record guaranteed lifetime income of $528 million.
The 37-year-old James has stated that he intends to continue playing through the 2024–2025 season in order to compete with his eldest kid, a top high school talent in Los Angeles.
James, whose Lakers contract was set to expire in October, will now have the same options as his star teammate Anthony Davis: he may negotiate a new deal or leave the Lakers after two seasons.
James played in only 56 games last season due to injuries despite averaging 30.3 points, 8.2 rebounds, and 6.2 assists per game. The Lakers missed the playoffs last season and finished 33-49.