LeBron James opts into £38m contract as Lakers set for $10bn deal
LeBron James is set to play in the Lakers’ new ownership era after opting into a £38m contract option.
It will mean the 40-year-old, who turns 41 in December, will compete for the Los Angeles side for a 23rd season.
The American is just 50 appearances short of Robert Parish’s NBA record, having played 1,562 regular-season games.
It comes after the franchise’s minority owner and Chelsea co-owner Mark Walter’s $10bn deal to buy a controlling stake of the iconic sporting team.
The deal, which is expected to be concluded by the end of the calendar year, will see the Lakers smash the current record for a sports franchise valuation, currently held by the Boston Celtics ($6.1bn).
LeBron sticking around
“LeBron wants to compete for a championship,” Klutch Sports CEO Rich Paul told ESPN. “He knows the Lakers are building for the future. He understands that, but he values a realistic chance of winning it all. We are very appreciative of the partnership that we’ve had for eight years with [Lakers ownership and executives] and consider the Lakers as a critical part of his career.
“We understand the difficulty in winning now while preparing for the future [and] we do want to evaluate what’s best for LeBron at this stage in his life and career. He wants to make every season he has left count, and the Lakers understand that, are supportive and want what’s best for him.”
Majority owner-elect Walter is the chief executive of TWG Global, which owns or has stakes in the Los Angeles Dodgers, the Lakers, LA Sparks, RC Strasbourg and Premier League club Chelsea.
The group are also behind the Cadillac entry into Formula 1 – which is set for its debut season in 2026.
LeBron did lose one crown this year, with Slovenia’s Luka Doncic becoming the first overseas NBA player to top the jersey sales list in the US.