LeBron James reportedly plans to sign a new contract with the Lakers. According to reports, LeBron will sign a new contract with the Lakers rather than exercise his player option.

LeBron James has reportedly declined his $51.4 million player option with the Lakers for the upcoming season, choosing instead to enter negotiations for a new contract with the team. A source familiar with the matter revealed this decision on Saturday.

LeBron James Unsure Of Upcoming Player Option With Lakers Amid Rumors -  Fadeaway World

The terms of the new deal are expected to be finalized swiftly, according to the source, who spoke anonymously to The Associated Press because neither James nor the Lakers had officially announced their plans. ESPN, The Athletic, and the Los Angeles Times all reported on James’ decision earlier in the day.

LeBron James returns to Los Angeles with history in his grasp – FBC News

This move comes just ahead of the NBA’s free agency period, which officially begins at 6 p.m. Eastern on Sunday, although teams have already agreed to over $1.2 billion in contracts under new rules allowing early negotiations with current players after the NBA Finals.

While it was widely anticipated that LeBron James would opt for free agency, speculation also suggested his intent to remain with the Lakers.

Lakers score: LeBron James brought his talents back to South Beach -  SBNation.com

Recently, the Lakers drafted Bronny James, LeBron’s eldest son, in the second round, setting the stage for a potential historic father-son duo in NBA history. A new contract for LeBron James might involve accepting a reduced salary to provide the Lakers with greater financial flexibility for additional transactions.

LeBron James, a four-time NBA champion, is approaching the $500 million mark in on-court earnings, a milestone unprecedented in league history. Combined with his extensive off-court ventures and investments, his total net worth is believed to exceed $1 billion.

Reports: LeBron James intends to sign new deal with Lakers | NBA.com

Approaching his 40th birthday in December, LeBron James will match Vince Carter’s record for the most NBA seasons played this upcoming season, marking his 22nd year in the league. Last season, he averaged 25.7 points, 7.3 rebounds, and 8.3 assists, solidifying his position as the league’s oldest active player.

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