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LeBron James Contract & Salary Breakdown

Boardroom dives into arguably the most massive move of the NBA offseason — the Lakers’ latest LeBron James contract extension.

It might be the last contract he ever signs. He might play until he’s 50. But in any event, the King has just gotten paid — again.

LeBron James was already the highest-earning player in NBA history. Now, he’s just gotten richer. In news first reported by ESPN’s Adrian Wojnarowski, LBJ and the Los Angeles Lakers have agreed to a two-year contract extension worth $97.1 million that will kick in after the expiration of his current contract next summer. The second year of the deal — 2024-25 — is a player option. That year is extra-significant because it’s the one in which LeBron turns 40 years of age.

On the heels of the news, Boardroom looks at the numbers behind the Lakers’ ritzy LeBron James contract.

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LeBron James Contract Details & Salary

All dollar figures via Spotrac.

Years: 2
Total value: $97,133,373
Average annual value: $48,566,687
Free agency: 2025 (can decline player option and enter free agency after 2023-24)

LeBron first became eligible for the extension on Aug. 4. Interestingly enough, depending on the growth of the NBA salary cap over the next several years, Woj reports that the deal can be worth as much as $111 million:

Remaining salary under current deal:

2022-23: $44,474,988

Estimated annual contract earnings:

2023-24: $46,698,737
2024-25: $50,434,636 (player option)

One more note about the 1+1 structure of the contract. LeBron’s son, Bronny, is scheduled to be eligible for the NBA Draft in 2024 — the ability to decline that 2024-25 option and jump back into free agency one year early just weeks after the draft is awfully intriguing, and could turn out to be one of the most intriguing, unprecedented offseason subplots basketball has ever seen.

LeBron’s Career Earnings

All dollar figures via Spotrac.

CAREER NBA EARNINGS THROUGH 2021-22: $387,384,119

ESTIMATED EARNINGS THROUGH 2024-25: $528,992,480

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About The Author
Sam Dunn
Sam Dunn
Sam Dunn is the Managing Editor of Boardroom. Before joining the team, he was an editor and multimedia talent for several sports and culture verticals at Minute Media and an editor, reporter, and site manager at SB Nation. A specialist in content strategy, copywriting, and SEO, he has additionally worked as a digital consultant in the corporate services, retail, and tech industries. He cannot be expected to be impartial on any matter regarding the Florida Gators or Atlanta Braves. Follow him on Twitter @RealFakeSamDunn.