How much will Lebron James earn at Lakers? $85 million contract breakdown

LeBron James could end his NBA career with the Los Angeles Lakers. On Wednesday (Thursday IST), reports confirmed a two-year contract extension for James. While they are yet to finalize a contract with Anthony Davis, James time with the Lakers is extended till the 2020-23 season. 

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How much will LeBron James earn with the LA Lakers? 

Los Angeles Lakers star LeBron James has agreed to a two-year, $85 million maximum contract extension with the franchise, CEO of Klutch Sports, Rich Paul, told @TheAthleticNBA @Stadium.

— Shams Charania (@ShamsCharania) December 2, 2020

In 2018, James signed the Lakers after his second stint with the Cleveland Cavaliers. While his first season with the team did not end in a playoff appearance, James led the team to their record-tying 17th title in October. Though James will be around 39 when his time with the Lakers ends, the team is aiming for a two-peat with both James and Davis on their roster. 

Also read | Lakers re-sign veteran Jared Dudley to 1-year deal

LeBron James contract breakdown and Lakers budget

LeBron will have earned $435M in his career after the extension through 2022-23 is done 💰

Just a kid from Akron.

(via @BobbyMarks42) pic.twitter.com/2xYb1tWYgg

— Bleacher Report (@BleacherReport) December 2, 2020

James' $85 million two-year contract extension will mean he will have earned $435 million in the NBA by 2022-23. His last four-year contract with the Lakers was worth $154 million, with a player option in the last year. With the extension, James has somewhat confirmed his stay at the Lakers, even though he might no longer be in his prime. 

The new contract will be effective after the 2020-21 season. Per Spotrac, James will earn $36,879,761 for the next season. After that, he will see a $180,000 increase in his yearly salary. By 2022-23, James will be earning $44.47 million. He will make more than $41 million during the 2021-22 season. With this, James will make over $190 million while with the Lakers. 

Also read | LeBron James could be open to Pau Gasol's return to the Lakers for one final season

LeBron James’ earnings by franchise

Cavs: $169.9 mil - 11 seasons

Heat: $64 mil - 4 seasons

Lakers: $195.6 mil - 5 seasons pic.twitter.com/yxece6j93G

— Top Ball Coverage (@TopBallCoverage) December 2, 2020

The Lakers might not have enough cap space anymore, which might even squash their reported hope of signing Giannis Antetokounmpo eventually. The team even petitioned the NBA to remove Luol Deng's dead $10 million. However, it was not expected. They even ended contracts with Quinn Cook and Jordan Ball, trying to save some cap space for the next season.

However, their waived salary ($1.6 million), might not let them sign a 15th player at the start of the season. The team has a tax-apron or hard cap of $138.9 million. The team can eventually sign another player on the buyout market. 

Also read | LeBron James salary: LeBron James contract extension with Lakers is worth $85 million

(Image credits: AP)