The 37-year-old’s management agency, Klutch Sports Group, said the two-year extension was worth 97.1million dollars (£80.6million).
In a post on Twitter, Klutch’s official account said: “Congrats @KingJames on your 2 year 97.1M dollar extension and becoming the highest paid player in the history of the NBA!”
— Klutch Sports Group (@KlutchSports) August 17, 2022
James joined the Lakers from the Cleveland Cavaliers in 2018.
He secured his fourth championship with the Lakers’ NBA Finals victory over the Miami Heat in 2020.