LeBron James did the Los Angeles Lakers a significant favor by re-signing for less than the maximum amount, helping the team avoid salary cap restrictions.
The Lakers officially announced James’ two-year extension for $101.35 million on Saturday. Initially, it was reported that the four-time MVP would sign for the maximum of $104 million. By reducing his salary by $2.7 million, the Lakers will avoid the second apron by $45,000.
Bobby Marks of ESPN provided a more detailed explanation of the implications of James’ decision.
James’ contract includes a player option for the second season and a no-trade clause.
James’ agent, Rich Paul, previously informed ESPN that James was open to taking a pay cut to allow the Lakers to add an impact player. Potential candidates mentioned included James Harden, Klay Thompson, and Jonas Valančiūnas, but all three have since secured their futures with other teams.
DeMar DeRozan was also considered a potential fit. However, the six-time All-Star joined the Sacramento Kings on Saturday through a sign-and-trade deal.
Bronny James, LeBron’s eldest son, is the most notable addition to the Lakers’ roster this offseason. LA selected the USC product with the No. 55 overall pick in the second round.
“To see my son make it to the NBA is incredible,” LeBron said on July 6 during a Team USA press conference. “It’s always been his dream. I’m proud to be alongside him. Words can’t express how I feel. He’s worked so hard to get to this point, especially after everything that’s happened in the past year.”
