Additionally, the Lakers agreed to sign James’s 19-year-old son, Bronny James, to a four-year, $7.9 million rookie contract that includes a team option on the final season.

The Lakers, who lost to the Denver Nuggets in the first round of the playoffs, expressed every intention of continuing the partnership, which began in 2018 and was highlighted by the 2020 championship. James, who has flirted with retirement in recent years, was coy about his future during his end-of-season news conference in April, dodging a question about whether he had played his last game with the Lakers. The four-time MVP then turned down his $51.4 million player option for the 2024-25 season so he could sign a more lucrative deal.

But James, the NBA’s all-time scoring leader and its oldest active player, will suit up for his 22nd season in the fall. Former NBA player JJ Redick, who co-hosted the “Mind the Game” podcast with James in recent months, succeeds Darvin Ham as coach of the Lakers. LeBron James and Bronny James, whom the Lakers selected with the 55th pick in last week’s draft, will have the opportunity to become the first father-and-son duo to play together in NBA history, fulfilling one of James’s long-held dreams.

“When I think about the Los Angeles Lakers, I think about a franchise where basketball history unfolds and takes place,” Lakers General Manager Rob Pelinka said at a news conference last week. “In the history of the NBA, there’s never been a father and a son that have shared an NBA basketball court. That feels like something that could be magical.”

The Lakers, who selected Tennessee guard Dalton Knecht with their first-round pick, appear poised to return much of their roster from last season. Anthony Davis, a nine-time all-star, will continue to anchor the front line, and guard D’Angelo Russell opted to return by picking up his $18.7 million player option. The Lakers also re-signed guard Max Christie and continue to have Austin Reaves, Rui Hachimura, Jarred Vanderbilt and Gabe Vincent, among other returners, under contract.

James’s new contract will push his total career earnings past $500 million. The exact value of his contract will be determined by the Lakers’ position relative to the NBA’s new “second apron” spending bracket. The Lakers intend to stay below the second apron line for team salaries, which was set at $188.9 million for the 2024-25 season.