Los Angeles Lakers star LeBron James will stay in Hollywood for the foreseeable future after agreeing to a two-year contract extension.
However, the NBA's all-time leading scorer took less money than the maximum he was eligible to receive. Initially, it was reported that he signed a deal worth $104 million for the next two seasons.
James explained, "When you're in a relationship, there are things you have to do sometimes." He wanted to ensure the Lakers had more flexibility to add more key players to the roster, according to league insider Tim Bontemps of ESPN.
The 39-year-old is in Las Vegas for Team USA's training camp in preparation for the 2024 Summer Olympics in Paris, France.
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James made $47.6 million in 2023-24, and he is projected to make $49.9 million next season in the first year of his new deal, as per numbers from HoopsHype.
LeBron James took a pay cut on new contract
James signed a two-year contract extension with the Lakers worth $101.355 million instead of the maximum $104 million of the same length that he was initially thought to sign.
The amount is nearly a $3 million discount, enough to keep the Lakers about $45,000 below the second apron of the luxury tax.
The contract also includes a no-trade clause, a player option in the second year, which could allow James to opt out and enter free agency once again next year, and a 15 percent trade kicker he could earn if traded during the duration of the contract.
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