LeBron James Receives Two-Year, $85-Million Extension from Lakers
Next offseason’s free agency just look a wild turn.
On Wednesday, LeBron James and the Los Angeles Lakers agreed to a two-year, $85-million contract extension, subsequently removing James from the 2021 free agent market. James’ agent Rich Paul of Klutch Sports Group confirmed the contract extension with ESPN.
— Bleacher Report (@BleacherReport) December 2, 2020
The soon-to-be 36-year old James is coming off a season in which he averaged 25.3 points per game and finished second in league MVP votings, before leading the Lakers to an NBA championship inside the bubble. Taking home finals MVP honours, the championship victory was the fourth of James’ prolific career.
James will now be under contract until his age 39 season.
“First, James gets a raise for 2021-22 and 2022-23, because the eight percent raises on an extension are more than the recently updated projected salary cap increase,” commented The Athletic’s John Hollinger on James’ extension. “Second, James likely matches his contract term to that of Anthony Davis, whom most suspect will soon sign a three-year extension with an opt-out after the second year — when he’s eligible for the 10-year veteran maximum of 35 percent of the cap. And finally, James can’t sign for his max on anything longer: The over-38 Rule in the NBA Collective Bargaining Agreement would take effect on a three-year extension.”
The Lakers are also poised to re-sign superstar forward Anthony Davis who opted out of his player option at the start of the offseason. The team expects to come to terms with Davis in the early part of training camp as the terms of the new deal will soon begin to come together.
Set to be one of the favourites entering this coming season, the purple and gold glory days are very much back in Los Angeles.