“Lakers want to re-establish themselves as a marquee destination for future free agents and also become synonymous once again with the banners” - Insider says LeBron James’ new deal was mutually beneficial

LeBron James keeps on making history, even in Year 20. The LA Lakers agreed to a contract extension with the four-time MVP worth $97.1 million for two years.

James' new deal makes him as the highest earning player in NBA history. He surpassed Brooklyn Nets star Kevin Durant with a reported $532 million in guaranteed money. It's also noteworthy that James isn't going anywhere, and his retirement as a Laker is slowly becoming a reality.

On ESPN's "NBA Today," Dave McMenamin discussed how LeBron's new deal will help Los Angeles. He talked about how the organization will be impacted substantially.

"It was mutually beneficial for both sides to come to this agreement, because LeBron James wants to be able to compete as he goes towards the final stage of his career for championships." McMenamin said.

"Lakers want to re-establish themselves as a marquee destination for future free agents and also become synonymous once again with the banners. It was a business decision by LeBron James. Him and his representative, CEO of Klutch Sports, Rich Paul saw that there was an offer on the table to make $50 million when he's 40 years old."

The contract move will have a great impact on the league. Being a trailblazer for modern player empowerment means that James will motivate other stars to do the same. Earning close to $50 million a year is not usual for aging stars. However, LeBron's longevity has helped him get a massive salary. The four-time champion is entering his 20th year, and it looks like he's not slowing down any time soon.

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LeBron James keeps on breaking records

LA Lakers forward LeBron James

Entering his 20th season, fans are hyped to see LeBron James surpass Kareem Abdul-Jabbar on the all-time scoring list. Not to mention, James is still trying to compete for a championship.

James has been in his prime since his third year. That was in the 2005-06 season, when he averaged 31.4 points, 6.6 assists and 7.0 rebounds. Some might even say that he entered his prime during his sophomore season, which is a valid take. Years later, he's still producing similar numbers and has even added a deadly 3-pointer to his arsenal.

The 18-time All-Star has remained competitive throughout his career. Even though most fans mocked him for leaving the Cleveland Cavaliers in 2010, James came back to help Cleveland experience a championship. Additionally, he has helped every team that he's been on to win titles. From Cleveland to Miami and Los Angeles, James has brought the Larry O'Brien Trophy to the cities he's played in.

It looks like James still has a lot left in the tank. He'll be breaking records next season and might be the all-time leader in other categories by the time his career ends.