"When you're in a relationship, you gotta do things sometimes": LeBron James explains reason behind $2.6 million pay cut
LeBron James, the oldest active player in the NBA, signed a two-year contract to return to the Los Angeles Lakers after declining his initial player option. In signing a new contract, James took a pay cut that allowed the Lakers to stay under the second luxury tax apron.
In taking about $3 million less than he is supposed to get for next season, James gave the Lakers some cap flexibility with the hopes of improving the roster. At a Team USA press conference on Sunday, James explained his decision to take a pay cut.
“Like when you're in a relationship — like I've been married for a while now. I've been with my wife since high school — there are certain things that sometimes you have to do…You have to understand in a relationship, in order for a relationship to work … both sides have to work,” ” James said.
James explained that he wants to safeguard the Lakers from the dreaded second apron threshold, which comes with a long list of roster-building restrictions including losing the widely valuable mid-level exception.
For James, the decision was just to give back to the Lakers, the team he has been playing for since 2018.
“Me being able to be in a situation where I can protect the franchise under the second apron, understanding this new thing is very hard on a lot of teams as far as them trying to get better and whatever the case may be. I'm, I've been in a relationship with the Lakers going on seven years. I'm absolutely OK with [taking a pay cut],” James said.
After signing LeBron to a lesser deal, the Lakers retain the ability to not only sign any player through the mid-level exception but also enables them to trade multiple players for one player in any deal.
Previously, James expressed his willingness to take a pay cut early in the free agency period for the Lakers to sign a short list of prominent players including Klay Thompson, Paul George, and James Harden. However, the team has not signed any of them.
Looking at LeBron James’ new contract with the Lakers
LeBron James signed a two-year, $101.35 million contract with the L. A Lakers to return to the team for the 2024-2025 season. The deal was about $2.7 million below the maximum threshold, making next season the first in more than a decade that James will get a salary under the max amount.
The contract includes a player option for James next offseason to give him the chance to ponder about his future as he will play a record-tying 22nd season in the NBA.
The deal also features a no-trade clause, guaranteeing him to be with the Lakers for the entirety of next season. It was the biggest signing for the Lakers this season, after hiring new coach JJ Redick and drafting LeBron’s son Bronny James.