NBA legend, LeBron James has officially exercised his $52.6 million player option to remain with the Los Angeles Lakers for the 2025-26 NBA season amid retirement rumors.

The 40-year-old’s decision to exercise his player option means he will continue to compete at the highest level, at least for one more year.

James opting in leaves the Lakers with under $6million to spend on free agents and other moves this offseason, per ESPN.

Klutch Sports CEO Rich Paul, James’ agent, told the outlet that LeBron ‘knows the Lakers are building for the future. He understands that, but he values a realistic chance of winning it all. We are very appreciative of the partnership that we’ve had for eight years with Jeanie [Buss] and Rob [Pelinka] and consider the Lakers as a critical part of his career.’

James has been with the Lakers since 2018, winning an NBA Championship in 2018. The team inserted his good friend JJ Redick as Los Angeles’ head coach and drafted son Bronny James to the team last year.

The NBA superstar could retire at the end of this upcoming season, with a severe pay cut expected should he want to continue playing.