LeBron James signed a lucrative contract extension with the Lakers on Wednesday, and for several reasons, it’s a pretty big deal.
With the contract, James became the highest-earning player in NBA history. But there are some other notable details that fans should understand about the deal as well.
First and foremost, James is now no longer eligible to be traded next season. So you can throw away all of your fake trade ideas that involve moving him to another team.
ESPN’s Adrian Wojnarowski reports that this contract is a two-year, $97.1 million extension. Due to the Over-38 rule, as noted by HoopsHype’s Yossi Gozlan, James was limited to only two years in his extension.
James, however, does have a player option for the 2024-25 season. But what does that mean? Essentially, per NBA.com, this means James will have “the power to decide whether to stay for another year or become an unrestricted free agent” once the 2023-24 season is complete.
My colleague, Mike Sykes, explained why that is so significant:
“LeBron is now in perfect position to go wherever his son goes, should he actually play in the NBA.
There’s no guarantee he makes it — the NBA is vast pool of talent and being related to one of the greats doesn’t earn you a roster spot. But Bronny is good. And if he keeps improving he could get there.
If he does, it’d be in the summer of 2024. That’s when he’d be draft eligible. That’s also the same year James can opt out of his deal and enter free agency.
We know James wants to play with his son. He told us in January.”
LeBron’s son Bronny, who is expected to go the collegiate route once he completes high school, is a rising senior at Sierra Canyon in California. So that means Bronny will still be in high school during the NBA’s upcoming 2022-23 campaign.
His freshman year of college, should he take that path, is slated for the 2023-24 season. But it’s unclear if Bronny is a one-and-done prospect who will have enough momentum to declare for the 2024 NBA Draft after just one collegiate season.
Because he has a player option, LeBron will have the choice to stay with the Lakers for another year if Bronny decides to spend multiple years in college. However, if he decides to turn pro after one collegiate campaign, LeBron can opt out of his deal and potentially sign wherever Bronny is drafted.
With all that in mind, the player option for 2024-25 is far and away the most significant portion of LeBron’s new contract with the Lakers.
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