LOS ANGELES — LeBron James has agreed to a two-year, $85 million contract extension with the Los Angeles Lakers, his agent announced Wednesday.
James, who turns 36 this month, was named the 2020 NBA Final MVP after leading the Lakers past the Miami Heat in October to an NBA title.
The Ohio native averaged 25.3 points per game last season and led the league in assists with 10.2 per game.
James was under contract with the Lakers through the upcoming season, after which he could have entered a free agency. Under his previous contract, he had a $41 million option to return to the team for the 2021-22 season.
James' agent, Rich Paul, said the new deal gives James a slight raise for the 2021-22 season, and guarantees him $44.5 million for 2022-23.
The extension will take James through the 2022-23 season, giving him a total of 20 seasons in the NBA.
James will be 38 years old when the new contract expires. Various outlets noted that the deal means James could become a free agent in 2023 — the year his son Bronny could potentially be drafted straight out of high school into the NBA, if league rules permit.
City News Service contributed to this report.