LeBron James has agreed to a two-year, $85 million extension with the Los Angeles Lakers, agent Rich Paul told Shams Charania of The Athletic and Stadium.

James is under contract for this season at $39.2 million. He had a player option for the 2021-22 season at $41.0 million, though Charania noted this extension will run through the 2022-23 season, superseding that player option and giving him a slight raise.

There may be a particular reason James chose to hit free agency in the summer of 2023—the chance to potentially play with his son Bronny if he reaches the NBA: