LeBron James: LA Lakers set to sign two-year contract extension worth $85m

LeBron James is on the verge of signing a two-year contract extension with the Los Angeles Lakers, which is worth a reported $85m (£63m).

The 35-year-old’s agent told ESPN his contract will run until the end of the 2022-23 season – his 20th in the NBA.

He will become a free agent in the same year in which his 16-year-old son Bronny is slated to enter the NBA when he graduates from high school.

James led the Lakers to their first NBA title in a decade in October.

He was named the finals’ most valuable player and became the first player to win the title with three different teams, having twice won it with Miami Heat and once with the Cleveland Cavaliers.

His career earnings will approach $435m (£324m) by the end of his Lakers deal.

The Lakers will play the Los Angeles Clippers in their opening game of the new NBA season on 22 December.

James says the Lakers “absolutely can” retain their title, telling the ‘Road Trippin” podcast: “We can. I mean, it’s that simple.”