The deal will worth $97 million for two seasons, which will be added to his remaining year of his current contract.
Woj reported the second season has a player option, while the new deal includes a 15% trade kicker James had been entering the final season of his contract—worth $44.5 million.
LeBron James’ deal is worth up to $111 million over two years based on salary cap rises. https://t.co/2SryOYbJMY
— Shams Charania (@ShamsCharania) August 17, 2022
He will be able to negotiate a new deal with the Lakers or become free agents in two seasons following the timeline of Anthony Davis, who also has two remaining years.
Despite approaching 38 years old, LeBron James remains an All-NBA level player and the centerpiece of the Lakers.
The Lakers could have north of $20 million in salary-cap space in the 2023 offseason and would have the ability to sign a third max contract player.
The Lakers missed the playoffs in 2021-2022, despite James averaging 30.3 points, 8.2 rebounds and 6.2 assists. He only appeared in 56 games.
The two-year, $97.1M extension, which includes a 15 percent trade kicker, makes LeBron James the highest earning player in NBA history with $532M in guaranteed money. He surpasses Brooklyn’s Kevin Durant. pic.twitter.com/UUHMspiKZp
— Adrian Wojnarowski (@wojespn) August 17, 2022