Kobe Bryant has signed a two-year extension with the LA Lakers.
“This is a very happy day for Lakers fans and for the Lakers organization,” General Manager Mitch Kupchak said Monday in a statement. “We’ve said all along that our priority and hope was to have Kobe finish his career as a Laker, and this should ensure that that happens.”
The Lakers did not release terms of the new agreement but, according to a source familiar with the situation, Bryant will make between $40 million and $50 million for the two years.
Bryant was eligible for an extension starting at $32 million. Currently recovering from an Achilles injury, Bryant will remain the NBA’s highest paid player despite accepting a discounted deal.
With Bryant under contract, the Lakers project to have between $19 million and $20 million in spending power under the NBA’s salary cap next summer.