LeBron James and the Los Angeles Lakers have finalized a significant contract extension, reportedly valued at $97.1 million over two years. This deal, which includes a player option for the 2024-2025 season, solidifies James as the highest-paid player in NBA history, with $532 million guaranteed. Surpassing Kevin Durant’s previous record of $509 million in guaranteed earnings, this extension allows James flexibility in deciding his future, including potentially playing alongside his son Bronny, who is expected to enter the NBA in 2025.

The contract also features a 15% trade kicker, making it challenging for the Lakers to trade James before its expiration. Additionally, due to NBA rules, James cannot be traded during the upcoming season because the raise in his second year exceeds 5%.

ESPN’s Adrian Wojnarowski first reported the extension, suggesting it could reach up to $111 million depending on the NBA’s fluctuating salary cap. James, who was entering the final year of his previous contract with a salary of $44.5 million for 2022-2023, will now earn $46.7 million for the upcoming season.

Despite a challenging season for the Lakers marked by injuries and coaching changes, James remains a pivotal figure. He played exceptionally well last season, averaging over 30 points per game and achieving a career-best 2.9 three-point field goals per game.

Off the court, James recently joined Michael Jordan as one of the few athletes to achieve billionaire status while still actively playing, according to Forbes.

Regarding his son Bronny’s basketball future, LeBron clarified via social media that Bronny has yet to make any decisions about his collegiate or NBA prospects, despite rumors linking him to Oregon Ducks. LeBron emphasized that Bronny’s choice will be announced by him when the time comes, highlighting the family’s focus on supporting Bronny’s development and decisions in his basketball journey.