LeBron James opts out of Lakers contract, expected to sign deal later: Report

LeBron James has opted out of his contract with the Lakers but he's expected to sign a deal with the team while in free agency, CBS Sports reports. 

The decision to opt out came a few days after the team selected the superstar's son in the NBA Draft. 

James, entering his 21st season of professional basketball, opted out of the player option in his previous contract, which would have netted him $51.4 million during the 2024-2025 season. Previously, he signed an $85 million contract extension in 2021 after winning his fourth NBA Finals and continued to sign lucrative deals with the Lakers. 

During his two-decade-long career, James has amassed nearly $500 million from the three teams he has played for the Lakers, the Miami Heat, and his hometown team, the Cleveland Cavaliers. In the years leading up to his tenure with the Lakers, James earned roughly $234 million, according to Spottrac.

With the Lakers, James increased his career earnings by more than double, amassing more than $245.5 million in his six-year stint with the team.

In the 2023-2024 season, James averaged 25.7 points, 7.3 rebounds, and 8.3 assists per game. 

The Lakers selected James' son Bronny in the second round of this year's NBA draft after his sole season at the University of Southern California, making the pair the first active father-son duo in the league. 

"Pops over here getting emotional as hell just thinking about yall journey so far!," the NBA star wrote. "Thank you both for allowing me to be your DAD and be apart of your compass through life's trials and tribulations!"

In his only season at USC, Bronny averaged 4.8 points, 2.1 assists, 2.8 rebounds, and 0.8 steals, somewhat hampered by a cardiac arrest caused by a congenital heart defect.

Bronny was a highly touted recruit at Sierra Canyon High School in Chatsworth and was eventually selected by Team USA to play at the Nike Hoops Summit in 2023.