LeBron James New Contract with Lakers : Complete breakdown of ‘The King’s’ insane 85 million salary

In a bolt from the blue, the Los Angeles Lakers have confirmed re-signing LeBron James to a 2-year extension worth $85 million.

James’s earlier contract with the Lakers was worth 4 years, $154 million. He had a player option for year 4 of the contract. James will now be extending his stay with the Purple and Gold brigade till the 2022-23 season at least. This effectively means we will see him play out his peak with the Lakers.

LeBron James is now under contract with the Los Angeles Lakers through 2023 after signing a two-year, $85 million contract extension, CEO of @KlutchSports Rich Paul tells Yahoo Sports.

— Chris Haynes (@ChrisBHaynes) December 2, 2020

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The Lakers first signed LeBron James as a free agent in the summer of 2018. Fresh off his 8th consecutive NBA Finals appearance in a row, James was wooed by then Lakers’ President of Basketball Operations, Magic Johnson.

Details of LeBron James’ new contract with the Lakers

James will play out the current season (2020-21) under the same contract as before. He will then start playing under the new contract in the 2021-22 season.

Under his old contract, James was set to be paid just a tad north of the $41 million mark for the 2021-22 season. With this extension, his pay in that season increases by $180,000. His 2022-23 salary will be worth a whopping $44.47 million.

LeBron James‘ contract runs through 2023 — when his son, Bronny, graduates high school and could have option to enter the NBA Draft if the league and NBPA change the high school-to-pro rule. https://t.co/6bcMLgYTVV

— Shams Charania (@ShamsCharania) December 2, 2020

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James’s contract expires just in time for Bronny to either start attending college, or declare for the NBA Draft if the league decides to allow players straight out of high school once again. In such a scenario, the Lakers would throw the kitchen sink and try to sign his son and allow James to fulfil his lifelong wish of playing alongside Bronny in the NBA.