LeBron James opts out of $51 million Lakers contract; He should sign a new deal

Los Angeles Lakers star LeBron James has reportedly declined his $51.4 million option for the 2024-25 season, according to Shams Charania of Athletic and Stade.

However, Charania noted that James is expected to return to the team with a new contract in free agency.

Since leaving the Miami Heat and signing with the Cleveland Cavaliers, James has been savvy in how he constructs his contracts. He often signs for two years with a player option after the first year, allowing him to make more money at once and retain as much influence as possible on his current team.

It was the first time that a CEO could actually bluff.

As the Feb. 8 trade deadline approached, James dug through his old playbook and threw out plenty of cryptic clues.

On January 31, he posted an hourglass emoji on X, formerly known as Twitter, and declined to provide any explanation of what it represented:

James also responded to his business partner Paul Rivera, who posted an apple emoji, along with the Statue of Liberty and a crown:

Then, the four-time MVP wore a New York Knicks towel during his on-court postgame interview following a 113-105 victory at Madison Square Garden:

ESPN’s Brian Windhorst thought James knew exactly what he was doing.

“He can just say, ‘Oh, I just put a towel around my shoulders.’ What are you talking about ? You guys are crazy,” Windhorst said on his Twitter account. Hoops Collective podcast (via The New York Post“But that’s where LeBron excels. He calculates all this stuff. Of course, he knew he was putting a napkin that said New York Knicks on it. Why would he go after the Knicks? Because he was using the Knicks as a tool to put pressure on the Lakers.”

This led many to wonder if general manager Rob Pelinka had guaranteed that James would be cut by refusing to make a big-money deal before the deadline. The Lakers maintained the status quo and finished 47-35, grabbing seventh place in the Western Conference. They lost to the Denver Nuggets in five games in the first round.

It’s safe to assume that this result was disappointing for James. Not to mention that an NBA title and a Finals appearance in six years is a somewhat disappointing run considering the standard he set in Miami and Cleveland.

Still, imagining LeBron in a different uniform seems unlikely given the anticipation of his return to Los Angeles.

Signing with the Lakers was never just about basketball. Sure, the allure of the purple and gold spoke for itself, but James was also looking to expand his portfolio off the court, which he more than accomplished.

The empire that King James built wouldn’t disappear if he left Los Angeles, but running his many businesses is probably easier on the West Coast.

Additionally, the Lakers are virtually guaranteed to pursue the kind of monumental trade, or at least a major shakeup, that simply wasn’t possible last summer or before the deadline.

McMenamin explained in January how management has an incentive to hold its ground to some extent since it will be able to move up to three first-round picks on the night of the 2024 NBA draft. That’s the kind of capital that can allow to land a true All-Star, someone who significantly raises the team’s ceiling.

LeBron is well aware of this, so he will know that the roster he has on opening night 2024-25 will be very different from the one he had when last season closed. That could be enough assurance to entice him to commit for at least another year.

It also helps that the Lakers hired his Beware of the game Podcast partner JJ Redick was named head coach and selected his son, Bronny, in the draft. It’s hard to imagine James leaving Los Angeles when the team has already done so much to keep him theoretically happy.