Lakers News: LeBron James Contract Extension Watch Officially Begins Today

LeBron James is eligible to sign an extension as of today, but he and the Lakers may need some time to talk things over.

LeBron James is officially eligible to sign a contract extension today. Whether or not the Lakers superstar decides to ink a new deal before training camp could have a cascade effect on the organization for this season, and beyond.

If he James decides to sign an extension this summer, he can sign a one-year deal worth $46.7M or he can do the LeBron special and sign a two-year, $97.1M extension with a player option for the second season. Throughout his career, LeBron has utilized "1+1" contracts to maximize his flexibility and in turn, use himself as leverage to push franchises to shed draft capital to add veteran talent talent to try to make his team a contender now, and not later. Kyrie Irving anyone?

That history is as relevant as ever both with LeBron is in his career, and the Lakers resistance to trading their 2027 and 2029 first-round picks to get Westbrook, who LeBron has zero interest in playing with again, out of town in favor of Kyrie.

NBA insider Marc Stein noted that neither party has to rush into anything tomorrow just because James is eligible for a new deal.

"Neither James nor the Lakers are under any obligation to rush into an extension next week."

ESPN's Brian Windhorst, who knows LeBron better than most, doesn't think James wants to leave the Lakers.

"I don't sense that LeBron wants to leave the Lakers."

However, no LeBron contract extension article would be complete without mentioning the 18-time All-Star's stated goal of one day playing with his older son, Bronny James, in the NBA. Bronny isn't a top 25 prospect in the 2023 class at the moment, but is eligible for the 2024 draft.

It could certainly play a factor how James approaches his next contract. But at the moment, the bigger factors are whether or not the Lakers can find a trade partner for Russell Westbrook before the deadline, and how LeBron's perception of the current roster in the context of being title contenders.