Getty LeBron James during an April 27 playoff game against the Denver Nuggets.
The NBA’s all-time leading scorer will go into year 22 on a new contract. LeBron James is declining his $51 million player option for next season, and entering unrestricted free agency.
Shams Charania of The Athletic was first with reports on the Los Angeles Lakers‘ star.
Just In: Los Angeles Lakers four-time champion LeBron James intends to opt out of his $51.4 million player option for next season, sources tell @TheAthletic @Stadium. The expectation is James will return to the Lakers on a new deal.
“Just In: Los Angeles Lakers four-time champion LeBron James intends to opt out of his $51.4 million player option for next season, sources tell @TheAthletic @Stadium,” Charania tweeted on June 29. “The expectation is James will return to the Lakers on a new deal.”
The option is apart of a two-year, $99 million contract he signed with the Lakers in 2023.
Now he’ll look to sign another deal to remain in Los Angeles, where he’ll have the opportunity to play his son Bronny, who was drafted 55th overall in the 2024 NBA Draft.
James is coming off of his sixth season with the Lakers. He averaged 25.7 points, 8.3 assists, 7.3 rebounds, and 1.3 steals per game.
LeBron Helping Lakers to Open the Mid-Level Exception
Chris Haynes of Bleacher Report followed up Charania’s tweet with one of his own, saying James will work with Los Angeles in securing financial flexibility.
With LeBron James opting out to re-sign with the Los Angeles Lakers, the superstar is considering opening up a pathway for the team to obtain the full midlevel exception for the right targets, league sources tell @NBAonTNT, @BleacherReport.
“With LeBron James opting out to re-sign with the Los Angeles Lakers,” Haynes tweeted. “The superstar is considering opening up a pathway for the team to obtain the full midlevel exception for the right targets, league sources tell @NBAonTNT, @BleacherReport.”
The Lakers are operating over the cap, so the mid-level exception represents one of few avenues to upgrade the roster this summer.
Keith Smith of Spotrac wrote on the Los Angeles’ cap situation following the news of James’ declining his option.
If the Lakers have their guaranteed salaries on the books, plus Knecht’s salary, I have them at $49.9M under the first apron for 11 players.
Assuming they want to fill out the roster at 15, let’s add:
$12.9M for Non-Tax MLE signing
$1.1M for Bronny James on rookie minimum
$2.1M…
Smith offers three remaining transactions for the Lakers, outside of James’ next contract: $12.9M for Non-Tax MLE signing
$1.1M for Bronny James on rookie minimum, and $2.1M for a veteran minimum signing.
“That leaves almost $33.9M for LeBron James while going right up to the first apron,” Smith tweeted on June 29. “So, we’re talking a paycut in the range of $16M+ if James wants to open up the full NTMLE for the Lakers to use this offseason, without any further salary-shedding trades.”
Los Angeles will need all the help they can get, improving a 47-35 roster that lost four games to one int eh first round of the 2024 playoffs.
D’Angelo Russell Exercising Player Option
James is not the only Lakers’ player with an option for next season. D’Angelo Russell, in a somewhat surprising move, exercised his own for 2024-2025, at $18.7 million.
Jordan Richard, and founder/ceo of “Swish Cultures,” broke the news on June 29.
D’Angelo Russell tells me he intends to opt-in to his player option and stay with The Los Angeles Lakers. His number 1 priority is to win a championship @swishcultures_
“D’Angelo Russell tells me he intends to opt-in to his player option and stay with The Los Angeles Lakers. His number 1 priority is to win a championship @swishcultures_,” Richard tweeted.
Russell was long expected to decline the option and explore free agency. But according to Jovan Buha of The Athletic, the guard’s uncertain future in Los Angeles doesn’t change with the exercised option.
“After failing to trade Russell ahead of the 2024 trade deadline, the Lakers are expected to be aggressive in pursuing Russell-centric trades, according to league and team sources,” Buha wrote on June 29. “Russell’s expiring contract immediately becomes one of Los Angeles’ more valuable trade assets, particularly for salary-matching purposes.”
Russell averaged 18 points, 6.3 assists, and 3.1 rebounds in 76 regular season appearances last season.
Add his expiring salary to the short list of Lakers’ assets, that could include a full mid-level exception, should James and the team come to terms.