Los Angeles Lakers: The Pursuit of Luka Doncic's Co-Star and How LeBron James Factors In
I look ahead into the Lakers likely pursuit of another star and how LeBron James taking a reduced salary going forward could help achieve that while keeping the roster strong in the short-term.
If you told me last week the Lakers were trading for Luka Doncic and had to guess what the return would be for Dallas, I would’ve said LeBron James, Austin Reaves, and both 2029 and 2031 unprotected first-round picks. That way, the Lakers get to pair Doncic with Anthony Davis while the Mavericks keep a high level of playmaking and offense. Both rosters would be much more balanced.
Instead, Davis is headed to Dallas. This leaves a glaring void at center for the Lakers and I’m sure they’ll find a short-term solution by Thursday’s trade deadline. But James is still around and it sounds like he will remain a Lakers past the trade deadline. But for how long after this season? With the Lakers beginning to pivot into their next era, we could look at another offseason where James seriously considers taking a pay cut to help bring in a second star.
The Lakers came into the 2024 offseason with reasonable aspirations to bolster the roster. They were open to bringing an upgrade via sign-and-trade or with the $12.8 million non-taxpayer mid-level exception. Both mechanisms would’ve required the Lakers to stay below the $178.1 million first apron since they’d be hard capped to it.
The Lakers had to reduce payroll for that to be possible, and the easiest solution for that was for James to decline his $51.4 million player option and re-sign at a significantly lower amount.
The closest player the Lakers got to signing was Klay Thompson. They reportedly offered him a four-year, $80 million deal, and they could’ve given him that by just sending out Gabe Vincent ($11 million) in the trade. This would’ve required James to re-sign on a starting salary of roughly $30 million.
Thompson ultimately chose to sign with the Mavericks for less money and to play with Doncic.
The Lakers stood pat the rest of free agency and re-signed James to a near-maximum salary that kept them just below the $188.9 million second apron. There’s an argument to be made that he should’ve taken a reduced salary anyway. This would’ve given them greater trade flexibility and the ability to acquire some of the most expensive players.
It turns out that didn’t matter. The Lakers were still able to acquire Doncic’s $43 million salary as well as Kleber’s $11 million, in what was mostly a two-team trade with the Mavericks1. However, they may be missing out on some trade opportunities if they could increase their payroll in a trade.
But after Thursday’s trade deadline passes, the Lakers will need to focus on the long-term. Doncic has just one year left on his deal before he can hit free agency. He can decline his $49 million player option and hit the open market in 2026. Several teams like the Heat and Nets are planning to have maximum cap space that summer.
The assumption is that Doncic will take a short-term extension with the Lakers next summer. He could sign a 2+1 with a player option for 2028-29, allowing him to opt out and re-sign for up to five years, projected at $418 million2. But that’s not a guarantee considering the chaotic nature of this league. This Lakers roster and cap sheet is a mess and they have a lot of work to do to maximize their window around him.
The Lakers will be looking for their next co-star for Doncic. It’s probably too early to tell who that will be and how they can acquire such a player. Their best shot may be two years from now when they can trade an additional first-round pick in 2033. I think everything should be on the table for the Lakers to achieve that, which may include trading James. However, that is easier said than done since he has a no-trade clause.
But as James finishes his 22nd season and enters his early 40s, the possibility of him taking a pay cut, despite his unprecedented production for an athlete of his age, will only grow stronger. And at this stage of his career, no one would fault him. It wouldn’t be like when Kevin Durant took a significant pay cut in his prime to help the Warriors save some tax dollars. After over $500 million in career earnings, it would be completely understandable and even admirable.
The Lakers cap situation for 2025-26 would be pretty similar to this season’s if James picks up his $52.6 million player option. They’re already projected to be taxpayers and probably above the first apron once they fill out the roster. They’d have limited means to improve the roster without access to the non-taxpayer mid-level exception or expanded trade exceptions.
It’s worth noting that Dorian Finney-Smith has a $15.4 million player option that he’s expected to decline. However, I don’t expect him to make significantly more than he’s currently earning. I’ll keep his player option amount in these projections. Also, Shake Milton has a $3 million non-guaranteed salary with a July 20 guarantee date. I’ll remove it to maximize their flexibility.
Let’s say James is willing to accept a significant salary reduction at around $30 million. How does that change things?
The Lakers would be $32 million below the first apron. This would allow them to use the $14.1 million mid-level exception and $5.1 million bi-annual exception. But most importantly, they’d have the flexibility to increase payroll in trades. As an example, they’ll be able to trade Kleber or Vincent individually for a $20 million player.
That type of flexibility may be necessary for the Lakers to add ancillary pieces. They have one 2031 first-round pick left to trade as well as one 2025 second-round pick. I would be surprised if they traded their 2031 selection anytime soon unless it helps yield an All-Star. I could see them getting creative with their swaps in even-numbered years (2026, 2028, 2030, and 2032 starting next offseason).
Just for fun, what if James takes the veteran minimum? Would they have significant cap space to go after someone?
They’d be projected with just over $16 million in cap space. It isn’t a significant amount but it could allow them to pursue a big man like Brook Lopez, John Collins, or Clint Capela. They’d also have the $8.8 million room mid-level exception to spend on another high-level player.
I doubt we see James re-sign for as low as the minimum unless they have another All-Star lined up to trade for. The idea is that if they’re going to have two maximum-level salaries on the payroll, they’re also going to want to keep their high-level starters like Finney-Smith, Hachimura, and some decent bench pieces. James on a significantly reduced salary would allow the Lakers to achieve all that while helping keep their payroll just below the second apron, which appears to be an objective organizationally.
The Mavericks have publicly explained that they basically no longer wanted Doncic, although it appears that his upcoming contract situation played into things. As much as they reportedly are enamored with Davis, I think part of the reason they negotiated with the Lakers and Lakers only is two-fold: they wisely selected the Lakers as the team not only to be seriously interested in acquiring Doncic, but serious enough to get the deal done. If talks fell through, word of his availability could’ve leaked either through the Lakers or other teams they negotiated with. Once that happens, Doncic dictates his destinations.
But I think the other unspoken reason is probably that Doncic had a list of teams he’d like to join if he ever left Dallas and it included Los Angeles. And the Lakers possessed the threat of 2026 cap space to sign Doncic outright. The Lakers will need to have the threat of maximum cap space again if they’re going to have a chance at trading for another all-time great.
Now I’m thinking way too far ahead and the chance of any of what I’m about to say is slim, but considering they just got Doncic, bear with me.
In 2027-28, James will be entering his age 43 season and have completed 24 seasons in the league. But more importantly, it’ll be the 2027 offseason when Nikola Jokic and Giannis Antetokounmpo will be available. If the Lakers don’t add any significant long-term salaries to their books through then, they’ll be in a position to have maximum cap space that summer.
And James being on a significantly reduced salary could help keep that threat legitimate. This could help jumpstart potential negotiations for such players a year or two ahead of their respective free agency.
The alternative would be that James gets traded now. This could solve a lot of problems for the Lakers in the short and long term. They’d be able to balance out their roster this season and stock up on more draft picks for their next big move. But I believe James genuinely wants to play with Doncic and be a part of the next iteration of the Lakers. And that might require him on smaller salaries going forward.
The Utah Jazz were involved primarily in acquiring Jalen Hood-Schifino. This was necessary for the Mavericks to duck the luxury tax.