Despite the spotlight on new hire JJ Redick at his introductory press conference on Monday, the Los Angeles Lakers made a bigger splash with an afternoon report by ESPN insider Dave McMenamin: The Lakers are ready to offer LeBron James a three-year max contract extension worth over $160 million.
James has until June 29 to decide whether to opt into the final year of his current contract, which would pay him $51.4 million for the upcoming season. The prevailing expectation is that James will decline this player option and become a free agent. The three-year max offer is shaped by the “over-38 rule,” which restricts players over 38 years old from signing contracts longer than three years. If James accepts the max deal, he would be under contract with the Lakers through his age-41 season.
There are questions about whether James, at 39, can sustain his high level of play for three more years. He might also opt for one-year deals to maximize his short-term earnings, especially with the anticipated annual increases in the NBA salary cap. However, the Lakers seem prepared to accommodate whichever contract structure James prefers. This flexibility makes sense given James’ continued excellence and the team’s current win-now approach as James’ career nears its twilight.
The Lakers are pressured to secure James, who will attract interest from several teams. The Philadelphia 76ers, with their max cap space and a more immediate title-contending roster, are a serious threat. The Oklahoma City Thunder and the Orlando Magic can also create max cap space and become strong contenders with James. Moreover, sign-and-trade scenarios could emerge if James decides to push for a move, emphasizing his significant leverage despite his age.
Securing LeBron James is crucial for the Lakers. Losing him after hiring JJ Redick would be a major setback. Thus, the Lakers are focused on retaining their superstar and pursuing another elite player to complement James and Anthony Davis in their quest for a championship.
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