LeBron James will not use his option to terminate his $51.4 million contract for next season and will instead seek a new deal with the Los Angeles Lakersa person familiar with the decision said Saturday.
Terms of the new deal could be finalized quickly, said the person, who spoke to The Associated Press on condition of anonymity because neither James nor the Lakers have disclosed the decision publicly.
ESPN, The Athletic and the Los Angeles Times first reported the decision on Saturday.
This is one of the movements that will take effect when the NBA free agency period begins, which formally begins this Sunday at 6pm. ET, although $1.2 billion in contracts have already been agreed upon because teams are allowed to talk to their own players about new deals after the NBA Finals end.
Among the players who reached deals that cannot be finalized before the new NBA year begins on July 6 are: Toronto’s Scottie Barnes and Immanuel Quickley, Miami’s Ba, Adebayo, Indiana’s Pascal Siakam and New York’s OG Anunoby York.
LeBron James was expected to technically become a free agent. He was also expected to stay with the Lakers.
The Los Angeles team selected Bronny James — LeBron’s eldest son — in the second round of the draft, putting them in position to become the first father-son duo to play in the NBA.
With a new contract, it is possible that LeBron James could sign a lower deal to give the Lakers more financial flexibility.
LeBron James has won four NBA titles and is $20 million away from becoming the first player in league history to surpass half a billion in on-court earnings. With his business ventures and investments, his net worth exceeds $1 billion.
LeBron turns 40 in December and will equal Vince Carter for most seasons played in the league; the 2024-25 season will be his 22nd in the league.
Source: AP
