LeBron James and the Los Angeles Lakers have agreed to a two-year, $97.1 million contract extension that includes a player option for the 2024-25 season, making him a free agent when his son, Bronny James, becomes eligible for the draft.

According to ESPN, the extension also includes a 15 percent trade kicker, making James the highest-earning player in the history of the NBA with $532 million, exceeding Brooklyn Nets’ Kevin Durant.

James became eligible for a new two-year extension on Aug. 4. However, he was ineligible to sign a deal longer than that due to the NBA‘s Over-38 rule. He turns 38 on Dec. 30.

However, James does not qualify for a no-trade clause since he agreed to an extension. As a result of extending the contract, the 37-year-old basketball player’s salary starts at $46.7 million in his 2022/2023 season.

With fellow teammate Anthony Davis‘ most recent contract extension with the Lakers, James’ new deal allows both superstars to leave the Lakers or negotiate new deals before 2024.

During his time with the Lakers, James’ averaged 27 points, eight point zero rebounds, and eight point two assists per game. If he exercises his player option in 2024, James will be able to play with his son, Bronny, if he is drafted into the NBA.

James talked on multiple occasions about his desire to play with his son before he retired from the league. Earlier this year, he told Jason Lloyd of The Athletic that he would play wherever his son plays.

“My last year will be played with my son,” James said. “Wherever Bronny is at, that’s where I’ll be. I would do whatever it takes to play with my son for one year. It’s not about the money at that point.”

Bronny is a top-50 prospect in his recruiting class heading into his senior year at Chatsworth Sierra Canyon High.