LeBron is making concessions. He will sign a new contract with the Lakers

Legendary LeBron James will sign a new two-year contract with the Lakers worth $101.355 million, as reported by insider Shams Charania.

Interestingly, this is nearly $3 million less than the maximum contract the forward could have signed. This concession allows the club to avoid the luxury tax threshold.

The contract includes a player option, a no-trade clause, and a 15% trade bonus. Last season, the 39-year-old basketball player averaged 25.6 points, 7.3 rebounds, and 8.3 assists per game in the regular season, and 27.8 points, 6.8 rebounds, and 8.8 assists per game in the playoffs.

It's worth noting that earlier, the California club drafted LeBron's son, Bronny. It is expected that Bronny will get his chance to play for the Lakers' first team in the upcoming season. Previously, it was reported that drafting Bronny would help the team retain LeBron in their roster.