NBA Rumors: James opts out of the $51 million contract with the Lakers and is expected to sign a new deal
Per Shams Charania of The Athletic and Stadium, James will opt out of his $51.4 million deal for the 2024-25 season. Charania noted he is expected to remain with the Lakers on a new contract. He can sign a deal for up to three years and $162 million, per ESPN’s Bobby Marks.
LeBron James, the standout player for the Los Angeles Lakers, has reportedly turned down his $51.4 million option for the 2024–25 season, according to Shams Charania of Stadium and The Athletic. Charania did point out that James is anticipated to sign a new contract with the team during free agency.
James has been clever in the way he crafts his contracts ever since he left the Miami Heat and joined the Cleveland Cavaliers. He frequently negotiated deals that were good for two years with a player option after the first, giving him the ability to keep as much power over his current team and earn more money over time.
It appeared that this was the first time a general manager could effectively call him on it. In the run-up to the trade deadline on February 8, James consulted his old playbook and dropped a number of cryptic clues. He uploaded an hourglass emoji on X, the former name of Twitter, on January 31 and declined to explain what it meant.
James also used the monument of liberty and a crown as a response to business colleague Paul Rivera’s apple emoji.The four-time MVP then donned a New York Knicks towel while doing his floor interview following Madison Square Garden’s 113-105 victory.
“Oh, I just wrapped a towel around my shoulders,” he would say. What topic are you discussing? “You guys really are insane.” In his Hoop Collective podcast, Windhorst stated (via Justin Terranova of the New York Post). But LeBron is very good at this. He does all of this computation. He knew, of course, that he was wearing a towel that said New York Knicks. How come he would tamper with the Knicks? since he was applying pressure to the Lakers by using the Knicks as a tool.”
Many began to question whether general manager Rob Pelinka’s decision to pass on making a blockbuster transaction before the deadline effectively ensured James’ departure. The Lakers kept things as they were, winning 47-35 and securing the Western Conference’s seventh seed. In the opening round, they were defeated in five games by the Denver Nuggets.
That must have been a sad result for James. Not to mention, considering how high he had set the bar in Miami and Cleveland, one NBA title and one Finals run over six years is a little disappointing. Even still, considering that LeBron is expected to return to Los Angeles, it is difficult to imagine him wearing a different uniform.
It was never just about the basketball when he signed with the Lakers. Although the appeal of wearing purple and gold was undeniable, James also wanted to increase his business outside of the game, and he has more than succeeded in doing so.
King James’s empire would not vanish if he moved out of Los Angeles, but life on the West Coast would undoubtedly be easier for him to manage all of his projects. Furthermore, it is almost a given that the Lakers will try to make the kind of huge deal, or at the very least, a significant roster overhaul, that was just not feasible this summer or before the deadline.
The front office was somewhat encouraged to remain in place because, on the eve of the 2024 NBA draft, McMenamin lay out how it will be able to move up to three first-round picks. With that kind of money, a legitimate All-Star who greatly elevates the team’s ceiling can be signed.
LeBron knows this well, therefore he will know that his team’s lineup on opening night in 2024–25 will be very different from what it was at the end of the previous year. That guarantee alone might be sufficient to persuade him to commit for a minimum of another year.
It also helps that the Lakers selected his son Bronny in the draft and hired JJ Redick, who co-hosts the Mind the Game podcast, as head coach. With everything the organization has done to ostensibly keep James happy, it’s hard to imagine him leaving Los Angeles.