As the 2024-25 NBA season approaches, one of the most significant pieces of news revolves around the future of basketball legend LeBron James. After opting out of his previous contract, which would have earned him $51.4 million for the upcoming season, James has signed a new two-year deal with the Los Angeles Lakers.

This new contract, valued at $101,355,998, includes a guaranteed amount of the same figure and an average annual salary of $50,677,999. For the 2024-25 season, James will earn a base salary of $48,728,845, with a cap hit and dead cap value of the same amount.

This move is not surprising, given James' long-standing commitment to the Lakers and the recent draft of his son, Bronny James, by the team. The duo is set to make history as the first father-son pair to play in the NBA simultaneously, and on the same team. Bronny James, drafted in the second round, is expected to sign a standard NBA contract with multiple guaranteed seasons.

LeBron James, entering his 22nd NBA season at the age of 39, continues to defy age expectations with impressive performance statistics. In the 2023-24 season, he averaged 25.7 points, 8.3 assists, and 7.3 rebounds per game, earning him his record-setting 20th NBA All-Star Game selection and third-team All-NBA honors.

The new contract also includes a player option and a no-trade clause, allowing James the flexibility to reassess his situation after the 2025-26 season. This deal aligns with James' willingness to potentially take a lesser salary than his market value to provide the Lakers with financial flexibility for roster improvements.

As one of the most successful players in NBA history, LeBron James is on the brink of surpassing $500 million in on-court earnings, with a net worth estimated to exceed $1 billion when including his off-court ventures and investments. His continued excellence and commitment to the Lakers ensure that he remains a central figure in the NBA landscape.