Talks between James and Los Angeles Lakers

James and Paul met with Lakers vice president of basketball operations and general manager Rob Pelinka as well as new Lakers coach Darvin Ham at the Lakers’ practice facility in El Segundo, Calif. on Thursday. Thursday was the first day James is eligible to sign a two-year, $97.1 million contract extension with the Lakers.

James is entering the final year of his contract, worth $44.5 million, and will be 38 years old when his current contract ends. The maximum length of a contract a player 38 or older can sign is two years, according to the NBA’s collective bargaining agreement.

James has until Aug. 30 to sign the extension before becoming an unrestricted free agent.

It’s possible James will seek a one-year extension worth $47 million for the 2023-24 season, with an additional year with a player option for 2024-25.

The optionality could be intentional. His oldest son, Bronny, is entering his senior year of high school, making him NBA-eligible in 2024. James has repeatedly stated his desire to team with his son on an NBA roster before he retires.