Lebron James agrees to two-year extension with LA Lakers

Lebron James is making it official: He s coming back for a record tying 22nd season in the NBA, one where the league s all time scoring leader could s...

Lebron James is making it official: He's coming back for a record-tying 22nd season in the NBA, one where the league's all-time scoring leader could share the floor with his son Bronny as teammates with the Los Angeles Lakers.

James has agreed to a two-year contract to remain with the Lakers, a person with knowledge of the negotiations said on Wednesday. The second year of the deal is at James' option and means he could become a free agent again next summer, said the person, who spoke to The Associated Press on condition of anonymity because the agreement had not been announced publicly.

ESPN reported that the Lakers and James’ agent, Klutch Sports CEO Rich Paul, may agree on a salary slightly less than the max that James could have gotten - a move that could keep the team from reaching the second apron and preserve some roster flexibility going forward.

Either way, the expectation is that James will make around $50 million - give or take a little bit - this coming season, pushing his career on-court earnings to around $530 million and making him the first player in NBA history to eclipse the $500 million mark.

It will be James' 22nd season in the NBA, tying Vince Carter for the league record. The Lakers selected Bronny James last week in the second round of the draft, putting them in position to have the first on-court father-son duo in NBA history.