While the move was reported days ago, LeBron James has officially re-signed with the Los Angeles Lakers.
Taking to X on Saturday night, the Lakers announced that the four-time NBA MVP has re-signed with the franchise he has played for since 2018.
While it was previously known James would remain in Los Angeles, it remained unclear what his exact contract would look like. According to ESPN’s Dave McMenamin, the four-time NBA champion is, in fact, taking a deal lower than the max value he could have received, with his two-year, $101.35 million contract being approximately $2.7 million below his max salary.
Officially official: King’s back. pic.twitter.com/PIH9oRt4LJ
— Los Angeles Lakers (@Lakers) July 7, 2024
In taking the de facto pay cut, the 39-year-old James helps keep the Lakers below the NBA’s second apron, which will allow the franchise to avoid punitive salary cap restrictions moving forward. The Akron, Ohio, native’s new deal also includes a player option for the second season, giving him a default no trade-clause.
Despite having the ability to opt out of his contract, James had already been central to the Lakers’ offseason plans before ultimately re-signing. Over the course of the past few weeks, Los Angeles hired JJ Redick — who hosted the Mind the Game podcast with James — as its new head coach and used the No. 55 pick in the 2024 NBA Draft on James’ oldest son, Bronny James.
About Ben Axelrod
Ben Axelrod is a veteran of the sports media landscape, having most recently worked for NBC's Cleveland affiliate, WKYC. Prior to his time in Cleveland, he covered Ohio State football and the Big Ten for outlets including Cox Media Group, Bleacher Report, Scout and Rivals.