In the morning at 7:56: Wojnarowski (via Twitter) reports ongoing discussions between the Lakers and agent Rich Paul regarding the potential for James to accept a contract slightly below his maximum value. This move aims to allow the team to remain just under the secondary tax threshold and have more flexibility in shaping their roster.
7:30am: The Lakers have secured LeBron James on a lucrative two-year contract, valued at approximately $104MM, as per Shams Charania of The Athletic (confirmed on Twitter). Adrian Wojnarowski of ESPN (further confirmed on Twitter) disclosed that the deal includes a player option for the second year and a no-trade clause.
The seasoned player, who holds the record for the top scorer in NBA history, had another exceptional season in 2023/24 at the age of 39. He upheld his All-Star and All-NBA status for the 20th year in a row, averaging 25.7 points, 8.3 assists, and 7.3 rebounds, with 35.3 minutes of game time per match for the Lakers. James also boasted solid shooting stats of .540/.410/.750 across 71 games, marking his highest appearances since joining Los Angeles in 2018.
Despite opting out of his player option for the 2024/25 season to enter free agency, there was always certainty about his dedication to Los Angeles and the Lakers, particularly after the team drafted his son, Bronny James, in the recent draft. However, uncertainty lingered regarding the terms of LeBron’s new deal as he hit free agency.
Initial reports indicated that LeBron was open to a reduced salary if it would allow the Lakers more cap space to pursue impactful players like James Harden or Klay Thompson. Nonetheless, it was anticipated that he would still demand the maximum if these players were unattainable.
Subsequent reports hinted at interest in DeMar DeRozan as well, with no confirmed deal currently in place for him. Nevertheless, with LeBron’s max deal now confirmed, it may suggest that the Lakers are no longer in the running for the Bulls’ free agent. As noted by Bobby Marks of ESPN (via Twitter), LeBron’s new agreement is poised to surpass the secondary tax threshold, potentially restricting their flexibility for further acquisitions.
The highest salary for the 2024/25 season, applicable to players with ten years of experience, sits at around $49.2MM. However, players can opt for a 5% increase on their previous salary. Thus, James, who earned about $47.6MM in the prior season, will begin his new deal at $49,987,718. The player option for 2025/26 is designated at $53,986,735, totaling $103,974,453.
This deal propels the four-time MVP closer to becoming the first NBA player to surpass the $500MM milestone in career earnings, per Tim Reynolds of The Associated Press.
James will be among the select few, including Suns guard Bradley Beal, to hold a no-trade clause for the 2024/25 season. A player qualifies for a no-trade clause upon signing as a free agent, possessing at least eight years of NBA experience, and spending a minimum of four seasons with the joining team. LeBron previously enjoyed a no-trade clause during his time with Cleveland.
Image Source: LeBron James @ Instagram
