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LeBron James To Enter Free Agency After Declining USD 51 Million Contract; NBA Insider Drops Bombshell
LeBron James is looking to enter free agency as he will decline his player option, according to an NBA insider.
LeBron James has decided to opt out of his current contract, meaning the Los Angeles Lakers will need to negotiate a new one with their star player, according to Shams Charania of The Athletic.
Charania posted, “Just In: Los Angeles Lakers four-time champion LeBron James intends to opt out of his $51.4 million player option for next season, sources tell @TheAthletic @Stadium. The expectation is James will return to the Lakers on a new deal.”
James’ savvy nature with his deals
James has been clever in how he crafts his contracts ever since he left the Miami Heat and joined the Cleveland Cavaliers. He frequently signed deals that were good for two years with a player option after the first, giving him the ability to keep as much power over his current team and earn more money over time.
NBA regulations prohibit contract extensions from being added with no-trade clauses. In the history of the league, only ten players have been able to include a no-trade clause in their contracts.
What would have happened if LeBron signed the extension?
James might have agreed to a slightly higher contract for an extension with the Lakers. Under such an extension, the entire cost would have been approximately $164.3 million over three years.
James would have received a higher salary from an extension because his player option amount, determined by adding 8% to his previous contract, exceeded his maximum amount on the open market, which would have increased his pay by 5%. On the other hand, a no-trade clause could only be added to new agreements; if James had extended, he would not have been qualified for one.
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