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Agent: LeBron James, Lakers agree to two-year, $85 million extension

Los Angeles Lakers star LeBron James has agreed to a two-year, $85 million contract extension with the Los Angeles Lakers, his agent Rich Paul told ESPN and multiple outlets Wednesday.

James was named the 2020 NBA Finals MVP after leading the Lakers past the Miami Heat in six games. He became the first player in NBA history to win the award with three different franchises, also winning the award with the Miami Heat in 2012 and '13 and Cleveland Cavaliers in 2016.

James, who turns 36 later this month, averaged 25.