LA Lakers News Roundup: Details emerge on LeBron James' new contract, Pau Gasol's jersey to be retired this season, and more - August 18, 2022
The LA Lakers have been omnipresent in airwaves this week as the big news is LeBron James agreeing to an extension with the franchise. Russell Westbrook's future also continues to be up in the air as the franchise is reportedly looking to move him on.
After enduring a horrendous 2021-22 season, the Lakers have done what they can have with the roster by going for athleticism and young legs. Shooting woes will persist, but with new head coach Darvin Ham at the helm, the LA Lakers will be hoping to go deep into the postseason next year.
With that said, here's the latest Lakers News Roundup for August 18, 2022, brought to you by Sportskeeda.
Details of LeBron James' new contract with the LA Lakers
LA Lakers superstar LeBron James has agreed to a new contract extension, according to Adrian Wojnarowski of ESPN. James' current contract expires in the summer of 2023 and a new deal will see him associated with the franchise until 2025.
However, James has a player-option for the 2024-25 season. James will earn close to $100 million over the next two years but the cap hit will be at $46.7 million in 2023-24, and $50.4 million in 2024-25. James will earn a five percent raise from his $44.5 million salary in the upcoming 2022-23 season, followed by an eight percent raise off his $46.7 million salary in 2024-25.
Congrats @KingJames on your 2 year 97.1M dollar extension and becoming the highest paid player in the history of the NBA! #Klutch https://t.co/FAF3JaA0zs
LA Lakers to retire Pau Gasol's jersey later this season
Former LA Lakers center Pau Gasol's jersey is set to be retired in March next year. The ceremony will take place on March 7 next year, the franchise announced. Gasol was instrumental in the LA Lakers winning the championships in 2009 and 2010 as he was the second-best player on the team after Kobe Bryant.
Gasol also made the All-NBA Third Team in 2009 and 2010 as well as earning All-Star selections six times throughout the course of his illustrious career. Gasol departed the Lakers in 2014 for the Chicago Bulls.
A Champion, legend, and forever part of the Lakers Family.
3/7/23 - We raise Pau Gasol's jersey into the rafters https://t.co/F9snGrHO9o
LeBron James ineligible for trade next season
LeBron James is ineligible to be traded during the 2022-23 NBA season as the second year of his extensions sees him earn more than a 5% pay rise. Adrian Wojnarowski of ESPN reported this after news emerged that James had agreed to a two-year extension with the Lakers.
ESPN story on Lakers star LeBron James agreeing on a two-year, $97.1M extension that makes him highest earning player in NBA history. espn.com/nba/story/_/id…
James was eligible for a contract extension from the start of this month as his current deal expires in the summer of 2023. The Lakers have tied him down at least until the end of the 2023-24 season. He has a player-option for the 2024-25 season, which he could decline so that he can sign for the team that drafts his son Bronny James.