LeBron James contract situation: What deals can Lakers star sign in 2024 NBA Free Agency?

A big decision looms for LeBron James ahead as he potentially decides his final contract in the NBA. The 39-year-old could be an unrestricted free agent this summer after opting out of a $51.4 million player option.

It could play out in several ways, as James' previous deal, a two-year $99 million contract, which he signed in 2022, allowed him to have this luxury. The contract worked out just fine as LeBron now has the choice to play with his son, Bronny James, who was drafted by the Lakers with the No. 55 pick.

James also got the freedom to think over his championship prospects in LA. A longer deal could have hindered his chances of moving to another team via trade or allowed the Lakers to have the power to move on from him if need be.

James ensured that he had control over his future, like his previous free agencies in 2010, 2014 and 2018.

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LeBron James contract: Looking at all possible contracts 4x MVP could sign in 2024 NBA Free Agency

LeBron James had a chance to extend his stay with the LA Lakers for another year by opting into his $51.4 million option on or before the June 29 deadline. He could have signed an extension after opting in or played out his contract. James could have also opted in and demanded a trade.

However, the Lakers star opted out of the player option and became an unrestricted free agent. That enables him to re-sign the Lakers or any other interested suitor.

Here's what LeBron James' contract could've looked like via opt-in and extension with the LA Lakers:

Year	Annual salary
2024-25	$51.4 million
2025-26	$53.9 million
2026-27	$58.3 million
Total	$164 million

James would have signed a two-year $112 million extension, totaling his earnings to $164 million over three years, the most money he can make compared to other options.

Here's what the contract could look like if James opts out of the $51.4 million contract and signs a new deal with the Lakers:

Year	Annual salary
2024-25	$50.0 million
2025-26	$54.0 million
2026-27	$58.0 million
Total	$162.0 million

While he would make $2 million less on a new deal, James would have the ability to negotiate a no-trade clause, as he has completed 4+ years with the Lakers. That will allow him to void a trade if the team tries to move him, giving him the control to decide his future.

The third option for James is to sign with another team in free agency. Here's what that deal could look like:

Year	Annual salary
2024-25	$50.0 million
2025-26	$52.5 million
2026-27	$55.0 million
Total	$154.5 million

The third option of signing with another team doesn't give him a no-trade clause, and the money is significantly less. However, it's still intriguing for LeBron James in his pursuit of another championship. He has made more than $482 million in salary as an NBA player, so a few million dollars might not stop him from seeking a move elsewhere in hopes of a fifth title.

There are also rumors that LeBron could take a pay cut of up to $20 million on his new deal to give the Lakers some cap flexibility to add another significant upgrade in free agency with the full midlevel exception. He could sign a year-by-year deal and potentially settle for a one-year $30 million contract or a two-year deal over $60 million with a player option in the second season.