Los Angeles, California
Los Angeles Lakers
The team has officially announced that the team has entered into an agreement with LeBron
James (name)
A contract extension was completed.
The official Lakers Twitter feed reads, "The King is back!" This signifies that the Lakers have successfully extended their core players.
According to reports, LeBron James agreed to a 2-year contract with the Lakers worth a total of $101.35 million. The second year of the contract is a player option, while the contract includes a trade veto and trade margin clause. According to salary expert Bobby Marks, James voluntarily came close to taking a $3 million pay cut in order to help the Lakers reduce their salary costs, ultimately bringing the Lakers' total payroll down to about $45,000,000 below the second dirt cheapest line.
