LeBron James has opted out of his $51.4 million player option for next season but plans to re-sign with the Los Angeles Lakers if they prioritize improving the roster, Rich Paul of Klutch Sports told ESPN on Saturday.
James will work with the Lakers on his next deal if it means adding an impact player: “He’s been adamant about exuding all efforts to improve the roster,” Paul said in an email to ESPN.
It is the first time that James, who has won four NBA titles, become an unrestricted free agent since joining the Lakers in 2018. His initial contract with the Lakers was a four-year deal worth $154 million. James then signed a two-year extension in 2022 for $97.1 million with a player option for the 2024-25 season.
Multiple reports indicate James will wear the purple and gold again next season and play with his oldest son Bronny James, who was taken with the 55th pick in the NBA Draft, and be coached by JJ Redick, who became the head coach of the Lakers earlier this month.
James, 39, is eligible for up to a three-year deal because the NBA limits players older than 38 to signing contracts for a maximum of three years. The Lakers can offer him $162 million over three years to return or another team can offer up to $157.5 million for the same duration and attempt to lure him away from Los Angeles. He said he wanted to retire as a Laker during last year’s All-Star Weekend.
James has enjoyed numerous successes with the franchise, including winning an NBA title in 2020 and winning the inaugural NBA In-Season Tournament Championship in December 2023. He has also become the NBA’s all-time leading scorer, surpassing Lakers and Bucks legend Kareem Abdul-Jabbar.
James won back-to-back titles with the Miami Heat before returning to the Cleveland Cavaliers, the team that drafted him, and brought them its first title in 2016. James defeated a Golden State Warriors team that had gone 73-9., the best regular season record in NBA history. He has averaged 27.1 points, 7.5 rebounds and 7.4 assists in his storied career.
James was the highest-earning basketball player at $127.6 million during the 2023-24 season, per Sportico’s analysis.