LeBron James opts out of Lakers contract but expected to sign new deal with LA

According to Rich Paul, LeBron James’ agent, he has chosen to forego his contract with the Los Angeles Lakers for the upcoming season. However, it is unlikely that he will be a free agent for very long. Paul claims that James is open to working with the Lakers on a new contract that is less than the maximum three-year, $162 million deal he is eligible for. This would free up the entire $12.9 million mid-level exception, which would then allow general manager Rob Pelinka to sign a “impact player.”

Of what kind is a “impact player”? ESPN reports that James Harden, Klay Thompson, who is anticipated to become a free agent, or a large man who can complement Anthony Davis might be that player.

James had to notify the Lakers of his choice by 5 p.m. Eastern Time. James signed a four-year, $154 million contract with the Lakers in 2018 to become a free agent for the first time. In 2022, he inked a $97.1 million, two-year contract deal with Los Angeles, which includes a player option for the current campaign.

James has the option to return to the Lakers in free agency by agreeing to a three-year, $162 million contract. For a maximum of $157.5 million over the following three seasons, he is also free to join with any other NBA franchise. (The NBA has a maximum contract length of three years for players above the age of 38.) Despite being the oldest player still playing in the NBA at 39, he doesn’t appear to be slowing down. James made the All-NBA third team this past season with an average of 25.7 points (on 54/41/75 shooting splits), 8.3 assists, and 7.3 rebounds per game. He guided the Lakers to the No. 7 seed in the Western Conference and a play-in tournament berth. In the first round, they were defeated by the Denver Nuggets.