LeBron James and the Los Angeles Lakers have reached an agreement on a two-year, $85 million contract extension that runs through the 2022-23 season, his agent Rich Paul of Klutch Sports told Yahoo Sports.
The 16-time All-Star led the Lakers to the championship in October, capturing Finals MVP honors.
James owned a $41 player option for the 2021-22 season that could have made him a free agent next summer. That will be torn up in favor of a slight raise in 2021-22 and $44.5 million guaranteed in 2022-23.
The contract will see James through his 38th birthday and 20th NBA season.