LEBRON James is on the verge of canceling his contract with the Los Angeles Lakers by turning down their $51.4 million player.
But the 20-time NBA All-Star is planning to re-sign with the Lakers — and help them achieve their off-season goals.
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James, 39, is “considering opening a path for the team to get the full mid-level exception for the right targets,” an NBA source said. Chris Haynes reported Saturday.
That means the four-time NBA champion is willing to take a pay cut, giving Los Angeles more buying power in free agency.
The mid-level exception (MLE), worth about $12.9 million next season, is a provision that allows teams to sign players even if they are above the salary cap.
There are a few variations of the MLE, depending on a given team’s payroll situation.
The full MLE is available to teams that are below the first of two tax aprons, which are new salary caps that penalize teams for exceeding the salary cap and luxury tax lines too far.
The first apron costs approximately US$179 million.
Meanwhile, Los Angeles has about $129 million allocated to player contracts for 2024-25, per Spotrac.
As a veteran with more than 10 years of NBA experience, James is eligible to sign a max deal worth 35% of the salary cap.
With the salary cap projected at $141 million next season, his new max contract could pay him around $49.4 million in 2024-25.
Because of the over-38s rule, James can only sign a two- or three-year contract with Los Angeles worth $103 million and $160 million, respectively, capped.
But to comply with the new salary cap rules, he would need to sign for about $33.9 million in 2024-25 if the Lakers wanted to have the full MLE at their disposal, according to Spotrac. Keith Smith.
This takes into account the salary of first-round pick Dalton Knecht and a few other offseason additions on minimum deals.
The 6-foot-5 forward always seemed likely to remain in Los Angeles.
Those odds only increased after the Purple and Gold selected his son, Bronny, with the 55th pick in the 2024 NBA Draft.
They are now poised to become the first active father-son duo in league history, just as LeBron had hoped.
Bronny will play No. 9 and “James Jr.” on his back.
The former University of Southern California guard will have the chance to suit up for his new team for the first time on July 6.
That day, the Lakers face the Sacramento Kings in the 2024 California Classic Summer League.
Meanwhile, the update on James’ future came after reports that D’Angelo Russell decided to pick up his $18.7 million player option to remain in Los Angeles.
Free agency unofficially opens on June 30.
This story originally appeared on The-sun.com read the full story
