The Lakers have officially re-signed LeBron James to a two-year, $102 million deal a week after the team drafted his son Bronny James in the second round of the 2024 NBA Draft.
Los Angeles looks poised to run it back with a similar roster construction as last year after missing out on the Klay Thompson sweepstakes to the Western Conference champion Dallas Mavericks. The Lakers have limited flexibility — now, with LeBron not taking a paycut he was willing to settle for in order to maintain their $12.8 million midlevel exception.
Now, LA can only sign players to the veteran minimum, taking them out of the running for any potential high-moneyed free agents, like DeMar DeRozan. There are still a few players available at that minimum price — think Miles Bridges or Buddy Hield — but their options for trades are also severely hampered if it pushes them into that "second apron" of luxury tax penalties.
As a result, the Lakers' odds didn't change much even with the re-addition of LeBron. While they started free agency with +3700 odds at FanDuel to win it all next year, those odds have only moved up to +3400 on account of the news.
Compare that to odds for the Knicks, which acquired former Villanova star Mikal Bridges to add to their starting lineup littered with former Wildcats. New York saw their odds increase from +1700 to +900 at FanDuel as a result of that news, even after they lost crucial starter Isaiah Hartenstein in free agency to the Thunder — a natural cap casualty as we approach a new form of the NBA collective bargaining agreement that severely hampers teams that pay exorbitant amounts in luxury tax.
Or take a look at the 76ers, which added Paul George. They've seen their odds increase from +1400 to +850 in the championship market on account of that acquisition.
