Billionaire LeBron James Can Let Go of $50 Million Peanuts for a Title or Two, Says Rachel Nichols

Los Angeles Lakers want to build a championship contending team and might require LeBron James to give up his $52 million salary.

Billionaire LeBron James Can Let Go of $50 Million Peanuts for a Title or Two, Says Rachel Nichols

Rachel Nichols wants LeBron James to take less to help Lakers (Image via Firstsportz)

LeBron James became the first active basketball player to become a Billionaire. The Los Angeles Lakers superstar has amassed his fortune through a combination of the salary he has earned playing over 22 years in the NBA, along with endorsements and investments.

His lifetime deal with Nike makes up a chunk of that endorsement money, but his investments in various brands, the Fenway Sports Group, as well as film and media have helped him garner that status. He has not stopped and is always on the lookout to increase his net worth.

The NBA has awarded LeBron James over $528 million in salary. This past season, he earned $48.7 million and holds a player option of $52.6 million for the 2025 season. That is what he received after signing a deal with the Los Angeles Lakers this past offseason.

Now, with that player option in front of him, talks will again start on how the Lakers should approach the offseason. They have to restructure the roster to help Luka Doncic lead them to an NBA title. But considering how cap-strapped they will be if James opts in, veteran journalist Rachel Nichols has a solution.

I think he should take a minimum. He is a billionaire. So, how much money he makes in the next year or two is not even going to put a dent in his grandchildren’s pockets. If you took just the league minimum, and that allows that third really huge superstar to come in,… he can get maybe two rings.

Rachel Nichols said

The 51-year-old journalist reiterated on The Herd that the money LeBron James will make in the last few years in the league cannot buy him a championship. Rachel Nichols believes it is time that James does what is best and helps the team.

LeBron James Taking a Veteran Minimum can Help Lakers

LeBron James‘ salary cap hit for next season is $52.6 million. That makes up 34% of the $214 million cap the Los Angeles Lakers will hold next season. The veteran minimum salary for next season is likely to be $3.6 million.

That means, if the 40-year-old declines his player option and signs a new veteran minimum deal, the Lakers’ total cap will come down to $165 million, including cap holds. However, that will still be $12 million over the cap limit.

Considering they are a luxury tax-paying team, that would leave them next to no room to overhaul their roster the way they want. Dorian Finney-Smith also has a player option coming up. If the Lakers can convince him to sign a restructured deal, that can shave off a lot.

Another way they can restructure their team is to trade away players on expiring contracts. Bill Simmons had suggested that the Lakers can land a superstar big man by trading away those players. But it is easier said than done. But even then, it is easier to navigate when the cap is within reach than if it is at an astronomical level.

Lakers’ Needs for Next Season will Require a Lot of Maneuvering

A few games into the first-round playoff series against the Minnesota Timberwolves, it became apparent that the Los Angeles Lakers did not have a roster to compete in the playoffs. They were better than recent years in the regular season, but to fight for titles, an army of good players is needed.

LeBron James would want to win at least one more ring before retiring
LeBron James would want to win at least one more ring before retiring (Image via Open Source/X)

For instance, injuries to key starters have dealt a blow to the East-leading Cleveland Cavaliers in their second-round battle against the Indiana Pacers. Had the Lakers’ starters suffered injuries with games still to play, it would have been catastrophic.

Many might believe that LeBron James’ knee injury was the correct timing, as the Lakers would have struggled without him. All of this indicates the need to build a deep roster capable of competing for titles. If the oldest player in the league wants to stick around, he would prefer that the team helps him win titles No. 5 and possibly 6.

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