REPORT: Los Angeles Lakers Are Working to Reduce LeBron James’ Max Contract to Create a Cap Space for Free Agency

July 3, 2024, 6:10pm ESTBy Afshan khan

LeBron James, Los Angeles Lakers — LeBron James (Photo by Ronald Martinez/Getty Images)

The latest reports from NBA Insider for ESPN Adrian Wojnarowski suggest that the Los Angeles Lakers are working on a strategy to free up some extra money to add essential players during free agency. The Lakers are looking to reduce LeBron James’s max contract to create more cap space. According to Wojnarowski, agent Rich Paul and the franchise are in ongoing conversations about making modifications to James’s contract.

There’s still a conversation with agent Rich Paul and Lakers on James taking $1 million or so below max to keep team below second-apron and able to keep a little more roster-building flexibility, source tells ESPN. https://t.co/6OjREPfe17
— Adrian Wojnarowski (@wojespn) July 3, 2024

“There’s still a conversation with agent Rich Paul and Lakers on James taking $1 million or so below max to keep team below second-apron and able to keep a little more roster-building flexibility, source tells ESPN,” Wojnarowski wrote in his latest post on X (formerly known as Twitter).

On Wednesday, it was reported that James and the Lakers reached a two-year, $104 million maximum contract agreement. The contract grants James a no-trade clause and a player option for the 2025-2026 season. If James were to sign the entire maximum contract for over $50 million, the Lakers would slightly exceed the $188.9 million second apron. Once the Lakers have used up their whole salary, they cannot take out more funds. However, according to recent reports by ESPN’s Dave McMenamin, King James is prepared to take a pay cut to add some essential players to the roster in order to play better in the next season.

Kendrick Perkins Made Some Bold Statement About Lebron James

Meanwhile, the Lakers have failed to add former Golden State Warriors guard Klay Thompson to the roster, as Klay agreed to a three-year, $50 million contract with the Dallas Mavericks. However, a former NBA player didn’t hold back on the situation and gave his opinion on the matter. During a recent episode of the show “First Take,” the host Kendrick Perkins, who recently had a social media fight with James, mentioned that he believes the Lakers and LeBron are on “two different pages.”

“Every time he steps on the floor, LeBron James is thinking about championships. Rob Pelinka is thinking about the future.” Perkins said during the latest episode of First Take.