LeBron James extends contract with Los Angeles Lakers for $85m!

Fresh off winning the 2020 NBA title, LeBron James has signed a contract extension with the Los Angeles Lakers worth a reported $85 million.

James' agent and CEO of Klutch Sports, Rich Paul, first told The Athletic's Shams Charania about the new contract, as well as confirming the agreement to multiple outlets on Wednesday. The deal sees him remain a Laker until the end of the 2022-23 season, and opens up the possibility of playing in the NBA at the same time as his son, Bronny. 

James' current deal had been set to expire at the end of the 2021-22 season. As part of the new deal, James is set to earn $41 million in the first year of the extension, before he earns $44.5 million in the final year of his contract. LeBron James has agreed a two-year extension with the Los Angeles Lakers, with whom he won the 2020 NBA Championship in October. 

At the age of 38, he will become a free agent again in 2023 -- the same year his eldest son Bronny graduates from high school.