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Los Angeles Lakers, LeBron James agree to extension worth almost $100 million

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The value of LeBron James' new deal can rise to $111 million if the NBA's salary cap rises substantially higher in 2023-24. File Photo by Jim Ruymen/UPI | <a href="/News_Photos/lp/5df8bb2724b405120c4aac8a0c47adc9/" target="_blank">License Photo</a>
The value of LeBron James' new deal can rise to $111 million if the NBA's salary cap rises substantially higher in 2023-24. File Photo by Jim Ruymen/UPI | License Photo

Aug. 18 (UPI) -- The Los Angeles Lakers and superstar LeBron James have agreed to terms on a two-year, $97.1 million contract extension, James' agency announced.

The pact includes a player option for the 2024-25 season. James is now the highest-earning player in NBA history, with $532 million in career guaranteed money.

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"Congrats, 'King James' on your 2-year, $97.1M extension and becoming the highest-paid player in the history of the NBA," Klutch Sports Group wrote Wednesday night on social media.

James was set to make $44.5 million on the final year of his previous contract. The value of his new deal can rise to $111 million if the NBA's salary cap rises substantially higher in 2023-24.

The 18-time All-Star, 18-time All-NBA selection, four-time NBA MVP and four-time NBA champion averaged 30.3 points, 8.2 rebounds and 6.2 assists per game last season,

James, 37, has averaged 27.1 points, 7.5 rebounds and 7.4 assists per game over his decorated NBA tenure. The 6-foot-9 forward/guard is set to make $46.6 million in 2023-24. His player option is worth more than $50 million in 2024-25.

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The Lakers are scheduled to host the Sacramento Kings in a preseason game Oct. 3 in Los Angeles. They will battle the Golden State Warriors in their regular-season opener Oct. 18 at Chase Center in San Francisco.

Moments from LeBron James' career

St. Vincent-St. Mary High School senior LeBron James (L) drives around a Zanesvuille defender in Akron, Ohio, on February 14, 2003. James is expected to be the No. 1 pick in the NBA draft. A couple months later, the Cleveland Cavaliers coach was suspended because James worked out with the team before he graduated from high school. Photo by Tom Cammett/UPI | License Photo

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