Details emerge on LeBron James’ expected new contract

LeBron James may be in line for a nearly $50 million pay cut.

The former Los Angeles Lakers star James is expected to have to settle for a minimum contract in free agency, Shams Charania of ESPN reported on Thursday. Charania notes that the five teams still in the race for James (Golden State, Miami, Cleveland, Philadelphia, and Minnesota) would only have the minimum to offer him.

James, now 41 years old, remains an unsigned free agent more than three weeks into official NBA free agency. He is clearly dragging out his decision process at this point, perhaps in part due to pettiness towards those who want him to hurry up with his announcement already.

In the end though, all that waiting might only net James a veteran’s minimum deal. For players with over 10 years of experience (James has 23 and counting), that number is set at roughly $3.9 million for next season.

Obviously, that would constitute a massive haircut for James, who made $52.6 million last season with the Lakers. James has not even made any less than $13 million per year since he was still on his rookie contract with the Cleveland Cavaliers from 2003-07.

Of course, the four-time NBA champion James does not have much reason to worry here. He already at nearly $600 million in just pure NBA career salary alone and could potentially make a sizable sum of money back by selling the media rights to his possible farewell tour.