LeBron James will opt out of his player option for next season with the intention of working out a new contract with the Los Angeles Lakers, according to multiple reports.

James, who will turn 40 in December, would have been paid $51.4 million to play the 2024-25 season if he chose to opt into the one-year player option.

Shams Charania with The Athletic was first to report James’ intention to opt out.

Instead, the NBA legend will become a free agent. But rather than taking his talents to another city, James expects to re-sign with L.A. to close out his illustrious career.

According to ESPN’s Dave McMenamin, the Lakers intend to offer James the maximum three-year, $162 million contract he is eligible for. That contract would take the 20-time All-Star into the age of 43, which is virtually unheard of for an NBA player.

There’s speculation, however, that James could take a cheaper, more team-friendly deal so the Lakers could spend more on free agency.

“It’s been in Ohio as early as the mid-1850s at least, brought in as an ornamental plant because of its unique foliage and white flowers,” Gardner said. “It was actually planted in people’s landscaping, and it has been spreading.”

Los Angeles Lakers forward LeBron James, right, scores as Denver Nuggets forward Michael Porter Jr., defends, becoming the first NBA player to reach 40,000 points in a career, during the first half of an NBA basketball game Saturday, March 2, 2024, in Los Angeles. (AP Photo/Mark J. Terrill)

The team just hired first-time coach JJ Redick for its head coaching position. Redick, a longtime NBA veteran, is close with James as the pair started a podcast earlier this year.

As of Saturday morning, there was no word on what the superstar is looking for in a new contract.

The reported decision to return should come as no surprise to basketball fans as the Lakers just selected Lebron “Bronny” James Jr. in the second round of the NBA Draft on Thursday. The duo would become the first father-son pair to play in an NBA game together, if Bronny cracks the Lakers roster for the upcoming season.