Lakers NBA Championship Odds Amongst Top 5 in West After LeBron James' New Contract

How does LeBron James' new contract impact the Los Angeles Lakers NBA Finals odds?

Los Angeles Lakers forward LeBron James. / Gary A. Vasquez-USA TODAY Sports

LeBron James' decision is in.

The NBA's all-time leading scorer is signing a two-year deal with the Los Angeles Lakers worth $104 million -- a maximum contract. It had been reported earlier this offseason that James would have been willing to take less than the max if the Lakers were able to add specific players this offseason, but it appears that ship has sailed after Los Angeles missed out on Klay Thompson.

Free agent LeBron James has agreed to a two-year, $104 million maximum deal to return to the Los Angeles Lakers, sources tell ESPN. Deal includes player option and no trade clause. pic.twitter.com/gAEOmvfAzZ

— Adrian Wojnarowski (@wojespn) July 3, 2024

According to Wojnarowski, James' deal is a 1+1, as he'll have a player option for the 2025-26 season.

Los Angeles was the No. 7 seed in the Western Conference in the 2023-24 season, but oddsmakers appear to be higher on Los Angeles entering the 2024-25 season. The Lakers currently have the fifth-best odds to win the title amongst teams in the Western Conference and the ninth-best odds overall.

NBA Finals Odds for 2024-25 Season

Odds via DraftKings Sportsbook.

• Boston Celtics: +295
• Philadelphia 76ers: +800
• Oklahoma City Thunder: +850
• Denver Nuggets: +850
• New York Knicks: +950
• Minnesota Timberwolves: +1000
• Dallas Mavericks: +1000
• Milwaukee Bucks: +1100
• Los Angeles Lakers: +3000

How Does LeBron James' Extension Impact the Lakers Odds?

While the Lakers odds haven't moved -- a sign that James was expected to be back on the team -- this extension also may keep them stagnant the rest of the offseason.

Los Angeles had a chance to open up the $12.8 million non-taxpayer mid-level exception had it traded guard D'Angelo Russell and James agreed to a discounted deal, but that appears to be off the table.

So, what does that mean for the Lakers' roster building? Well, Los Angeles could still make a trade, but it is unlikely to land a solid veteran free agent since it won't have access to the mid-level at that number.

Ultimately, bringing James back and keeping him happy is the most important thing for the Lakers, as they look to get back to the mountaintop with him and Anthony Davis leading the way. James is still one of the best players in the league, and he showed it in the 2023-24 season.

The four-time champion averaged 25.7 points, 7.3 rebounds and 8.3 assists per game while shooting a career-high 41.0 percent from 3-point range. If he can still play at that level next season, Los Angeles should be in the mix in the playoff picture in the Western Conference.

That being said, the Lakers' odds being at +3000 still shows that they are well behind the four best teams in the West -- OKC (+850), Denver (+850), Dallas (+1000) and Minnesota (+1000) -- in the eyes of Vegas.

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Odds refresh periodically and are subject to change.

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