JULY 3: James has officially signed a four-year contract with the Lakers, Charania confirms (via Twitter). According to Charania, it’s a $7.9MM deal, which means it’s almost certainly worth the rookie minimum — a four-year, minimum-salary deal for a rookie would work out to $7,895,796.
According to Michael Scotto of HoopsHype (Twitter link), the first two years will be guaranteed, with a partial guarantee of $1.3MM in year three. The fourth year is a team option.
JULY 2: No. 55 overall pick Bronny James will sign a standard contract with the Lakers that includes multiple guaranteed seasons, sources tell Shams Charania of The Athletic.
[RELATED: Lakers Select Bronny James With No. 55 Pick]
This has been the expectation for James once it became clear that the Lakers were targeting him at No. 55 in last week’s draft. Reports ahead of the draft indicated that Rich Paul was focused on getting Bronny a guaranteed 15-man roster spot rather than a two-way contract, which the agent later confirmed on the record.
Additionally, as John Hollinger of The Athletic observes, it’s not uncommon for potential luxury tax teams to sign late second-round picks to standard contracts for money-saving purposes, since they only count for the rookie minimum (about $1.16MM this season) instead of the veteran’s minimum of $2.09MM.
The Lakers will almost certainly use the second-round pick exception to sign James to a contract that covers either three or four seasons. The deal will include a team option on the final year.