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UPDATE: ESPN's Adrian Wojnaroski, reports that the second year of the deal has a player-option. 

Woj: "BREAKING: Los Angeles Lakers star LeBron James has agreed on a two-year, $97.1 million contract extension – including a player option for the 2024-2025 season, @KlutchSports CEO Rich Paul tells ESPN. James had been entering final year of deal worth $44.5M."

According to Shams Charania of The Athletic and Stadium, LeBron James has agreed to a new deal with the Los Angeles Lakers.

Charania: "Sources: Four-time NBA champion LeBron James has agreed to a two-year, $97.1 million maximum contract extension with the Los Angeles Lakers, taking him under contract through 2024-25 season."

Charania also added: "LeBron James’ deal is worth up to $111 million over two years based on salary cap rises."

James is 37-years-old, and he will turn 38 during next season. 

This past season, the 18-time NBA All-Star averaged 30.3 points, 8.2 rebounds and 6.2 assists per contest.  

At his age, he is still one of the top-ten players in the NBA.   

However, the Lakers did not have a good season at all last year.  

They went just 33-49, and finished as the 11th seed in the Western Conference. 

James signed with the Lakers in the summer of 2018, and they have missed the NBA Playoffs two times in four seasons (this past season and the first season).  

However, in 2020, James led the Lakers to the NBA Championship over the Miami Heat. 

That was the first title for the Lakers since the 2010 season when they had Kobe Bryant and Pau Gasol. 

Prior to the Lakers, James had two stints with the Cleveland Cavaliers and one with the Heat.  

He began his career with the Cavs, and then signed with the Heat in the summer of 2010.  

With the Heat, he won the first two titles of his career, and in 2014 he returned to the Cavs where he won the NBA Championship in 2016. 

From 2011-18, James went to the NBA Finals eight times in a row (four times with the Heat and four times with the Cavs). 

More on the Los Angeles Lakers can be read here on FanNation.