The 2022-23 NBA schedule release was supposed to be the biggest news of the day on Wednesday, but that spotlight quickly shifted focus to LeBron James.
Just moments before the schedule was released for the upcoming season, ESPN's Adrian Wojnarowski broke the news that James has signed a two-year, $97.1 million contract extension with the Lakers, making him the highest-earning player in NBA history.
BREAKING: Los Angeles Lakers star LeBron James has agreed on a two-year, $97.1 million contract extension – including a player option for the 2024-2025 season, @KlutchSports CEO Rich Paul tells ESPN. James had been entering final year of deal worth $44.5M.
— Adrian Wojnarowski (@wojespn) August 17, 2022
MORE: LeBron James contract extension details
James signing the deal put an immediate end to any speculation of him hitting unrestricted free agency next offseason, as we'll have to wait until 2024 — at the earliest — for LeBron to potentially hit the open market.
But what does LeBron's contract extension mean for his future and the future of the Lakers? Let's take a look.
LeBron James' contract extension breakdown
James still has one year remaining on his previous two-year, $85.7 million deal he signed with the Lakers in 2020. He is set to make $44.5 million in 2022-23 before his new contract kicks in in 2023-24.
| Year | 2022-23 | 2023-24 | 2024-25 | 2025 |
| Salary | $44.5 million | $46.7 million | $50.4 million (PO) | UFA |
*PO = Player Option
After his first season under his new contract in 2023-24, James will have a player option for the 2024-25 season. That gives the superstar forward the flexibility to hit unrestricted free agency the same year that his son, Bronny, is expected to be drafted into the NBA. James has been on the record stating that he wants to play alongside Bronny, and this contract still gives him that opportunity.
MORE: LeBron slams door on Bronny recruiting rumors: "You'll hear it from him"
Even if he picked up his $50.4 million player option for the 2024-25 season, he would hit unrestricted free agency in 2025.
Lakers multi-year summary
With LeBron under contract until at least the 2023-24 season, let's take a look at the other Lakers who are currently locked up for the short and long term.
| Player | 2022-23 | 2023-24 | 2024-25 | 2025-26 |
| Russell Westbrook | $47.1M | UFA | ||
| LeBron James | $44.5M | $46.7M | $50.4M (PO) | UFA |
| Anthony Davis | $38M | $40.6M | $43.2M (PO) | UFA |
| Talen Horton-Tucker | $10.3M | $11M (PO) | UFA | |
| Lonnie Walker IV | $6.5M | UFA | ||
| Kendrick Nunn | $5.3M | UFA | ||
| Stanley Johnson | $2.4M | UFA | ||
| Damian Jones | $2.3M | $2.6M (PO) | UFA | |
| Wenyen Gabriel | $1.9M | UFA | ||
| Thomas Bryant | $1.8M | UFA | ||
| Troy Brown Jr. | $1.8M | UFA | ||
| Juan Toscano-Anderson | $1.8M | UFA | ||
| Austin Reaves | $1.6M | RFA | ||
| Max Christie | $1M | $1.7M | RFA | |
| MONEY COMMITTED | $166.3M | $102.6M | $93.6M |
With James' new contract extension, he and Davis' deals now matchup as both players have a player option for 2024-25 and hit unrestricted free agency in 2025-26. Westbrook only has one more year on his deal before he becomes an unrestricted free agent in 2023-24.
As you can see, nearly all of the Lakers' offseason signings were one-year deals. Walker, Johnson, Gabriel, Bryant, Brown and Toscano-Anderson will all be unrestricted free agents in 2023-24, while Reaves will be a restricted free agent.
This means that after the 2022-23 season, Los Angeles should have plenty of cap flexibility to insert another big-name player alongside James and Davis.
Who are the top free agents in 2024?
Should LeBron elect to decline his player option and become an unrestricted free agent in 2024, who else will be available that offseason?
Take a look at some notable names below.
- Jaylen Brown
- DeMar DeRozan
- Draymond Green
- James Harden
- Tobias Harris
- Kyle Lowry
- CJ McCollum
- Khris Middleton
- Dejounte Murray
- Kristaps Porzingis
- Domantas Sabonis
- Pascal Siakam
- Klay Thompson
- Fred VanVleet
Who are the top free agents in 2025?
If LeBron elects to pick up his player option for the 2024-25 season and elects to enter unrestricted free agency in 2025, who else will be available that offseason?
Take a look at some notable names below.
- OG Anunoby
- Lonzo Ball
- Clint Capela
- Anthony Davis
- Paul George
- Jrue Holiday
- Brandon Ingram
- Kawhi Leonard
- Jamal Murray
- Chris Paul
- Ben Simmons
