Davis' agent, Rich Paul of Klutch Sports Group, told ESPN and the Los Angeles Times that Davis reached an agreement on a five-year, $190 million maximum contract to remain with the Lakers. According to the outlets, the deal includes an early-termination option before the fifth year of the deal in 2024-25.
Davis, who became a free agent after opting out of the final year of his previous deal, signed the contract Thursday. According to ESPN, the All-NBA forward considered multiple short- and long-term contract options before accepting the five-year deal.
"In the Orlando bubble, Anthony Davis proved he is one of the game's most complete and dominant two-way players," Lakers general manager Rob Pelinka said in a statement. "Now, Lakers fans get to watch A.D. continue to grow and lead our franchise for years to come. This is truly a blessed moment for Lakers Nation."
Davis is scheduled to earn about $32.7 million this season, according to ESPN. He will make about $35.4 million in 2021-22, $37.9 million in 2022-23, $40.6 million in 2023-24 and $43.2 million in the fifth year.
The 27-year-old Davis averaged 26.1 points, 9.3 rebounds and 3.2 assists per game last season after leveraging a trade from the New Orleans Pelicans. He had averages of 27.7 points, 9.7 rebounds, 3.5 assists and 1.4 blocks in the playoffs.
Davis and James helped the Lakers win the franchise's 17th NBA championship in the 2019-20 season.