Report: LeBron James Signs Two-Year, $85 Million Extension With Lakers

James' extension will keep him in Los Angeles through the 2022-23 season.

LeBron James has agreed to a two-year, $85 million extension with the Lakers, according to The Athletic's Shams Charania. 

James' extension will keep him in Los Angeles through the 2022-23 season. His contract will expire the year before his son, Bronny, will be eligible to enter the NBA, per Charania. 

LeBron James‘ contract runs through 2023 -- when his son, Bronny, graduates high school and could have option to enter the NBA Draft if the league and NBPA change the high school-to-pro rule. https://t.co/6bcMLgYTVV

— Shams Charania (@ShamsCharania) December 2, 2020

The four-time champion signed a four-year deal with the Lakers in July 2018. James missed the playoffs in his first year with the Lakers, but Los Angeles rebounded to win the Finals in 2019-20. James earned his fourth Finals MVP as the Lakers defeated the Heat in five games. 

James will turn 36 in December, but he's shown no signs of slowing down in recent seasons. He played in 67 of Los Angeles' 71 games in 2019-20, averaging 25.3 points per game while leading the NBA in assists. James continued his excellence in the postseason, tallying nine 30-point games and five triple-doubles.

James led the Lakers to their 17th championship in 2019-20. He enters 2020-21 looking to become the second player in NBA history with five Finals MVPs.