LeBron James will decline his $51.4 million player option with the Lakers for the 2024-25 season and become an unrestricted free agent, but he is expected to return to the organization on a new contract, The Atheltic reported on Saturday morning.
James, who turns 40 in December and is entering his 22nd NBA season, had until 2 p.m. on Saturday to decide on the option in his contract as part of the two-year, $99 million contract extension he signed with the Lakers in September 2022.
He could sign a three-year maximum contract worth approximately $162 million with the Lakers with a 2024-25 salary of approximately $49.9 million once free agency starts at 3 p.m. on Sunday – which the franchise is reportedly willing to offer.
James could also sign shorter-team deals to become eligible for free agency again in the next couple of offseasons.
He would be eligible to have a no-trade clause in his new contract with the Lakers since he’s been in the NBA for at least eight seasons and the Lakers for at least four.
James continued to raise the bar in his 21st NBA season, averaging 25.7 points, 8.3 assists and 7.3 rebounds in 71 games with the Lakers in 2023-24, shooting 54% from the field and 41% on 3-pointers, his record 20th consecutive season averaging at least 25 points.
His 3-point accuracy was a career-high while his shooting percentage was his best in six seasons as a Laker.
James became the first player in league history to eclipse 40,000 career points on March 2 against the Denver Nuggets and extended his NBA-record double-digit scoring streak to 1,222 consecutive regular-season games.
In addition to first-round pick Dalton Knecht, the Lakers drafted James’ oldest son, Bronny James, in the second round of the NBA draft.
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