The LA Lakers announced that LeBron James has officially re-signed with the team. James signed a two-year extension for $101.35 million that would take him through 23 seasons in the league. The contract includes a player option for the second season, which grants James, 39, a default no-trade clause by playing two consecutive seasons on one-year guarantees with his veteran status.

According to ESPN’s Bobby Marks, James signed for roughly $101.35 million over the two years of the deal (the second of which is a player option):  Marks says that James was originally reported to be making the maximum of $104 million on this deal, but the final amount is reportedly $101.35 — a pay cut of $2.65 million.  The savings will  helping the Lakers avoid salary cap restrictions that could affect their team building in the future; they now have around $45,000 in room beneath that line, according to Marks.

Per CBS Sports, the Lakers now have 15 players under guaranteed contracts, including both James and his son, Bronny James. LeBron James is staying in Los Angeles on a deal that will pay him nearly the max, grant him a no-trade clause and give him a 15% trade kicker in the event that he winds up waiving that no-trade clause to move to another team.

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