Kobe Agrees To Three-Year Extension With Lakers

[cavs4872]

http://www.nba.com/lakers/news/100402_k ... ef:nbahpt1

I know that this was practically a guaranteed deal, but I'm just surprised that someone else hasn't posted it yet.

[Andrew]

Word has it that the extension could be worth upwards of $90 million, comparable to the money Michael Jordan was making in his last couple of years in Chicago.

[NovU]

That sure is a lot of money. Kobe I know has never made as big of an impact MJ made in the game, but seeing his fan base all over the world, I can see why.

[Axel The Great]

Well the Lakers have to resign Kobe, if not, there are a crap load of other teams who would want to sign him.

[Andrew]

Once the Lakers acquired Gasol, became contenders once again and then champions last year, it seemed highly unlikely Kobe would look to go elsewhere. This was basically getting the inevitable out of the way well in advance.

[kevC]

30 million per for a barely top 10 player this season...

[Martti.]

The Lakers now have 70M of salary just on Gasol, Odom, Kobe and Bynum for the 2011/12 season. But if they have them all, they will be in title contention all those years, as long as they can keep good role players around for minimum salaries.

[Andrew]

No question. Given how profitable the franchise is and their rank amongst merchandise sales, I don't think Buss will mind paying the luxury tax for the Lakers to continue to contend.

[kibaxx7]

I don't think Buss will mind paying the luxury tax for the Lakers to continue to contend.

Something like Orlando did re-signing Gortat... it's working for now, they are playing really good, but I have my doubts if they can get to the Finals again.

[Andrew]

Exactly. Contrast that with the Knicks under Layden and later Isiah, who were paying even more in salaries just to go to the lottery (and a couple of those years missing out on the pick on top of that because they'd traded it away).

[bowdown]

30 million a year?
HOLY SHHHHHHHHIT....

[Andrew]

Reportedly over $32 million in the final year.

Bryant would earn $27.4 million in 2011-12, $30.2 million the following season and more than $32 million in his final year, when he would be 35.

[hova-]

I can't understand those guys. Why does Kobe need 30M$ per year? If he wanted to win championships until his career ends he'd rather play for about 10M leaving the Lakers at least some room to save money. It can't be the money, since Kobe has enough money for three lifetimes. It must be the ego, the glory, the "I get what I earn". Still I do not understand it. Financially the Lakers' hands were already pretty tied up, but now they are completely. Why can't he just say "hey guys, I want to win three more rings, so let's use some money on other guys since I have enough. Why not at least for 15M? I don't know if I am just a too modest guy or just not know how good it is to have too much money.

[Andrew]

I guess it's an ego thing to a certain extent and it's worth noting that his annual salary is comparable to what Michael Jordan was making at the end of his career. I still think the Lakers will be able to remain competitive despite Kobe's extension though and everyone has the right to maximise their earnings no matter what line of work they're in. I do get your point however and professional athletes do come off as greedy and indeed shortsighted when it comes to the issue of salary caps, but then how many CEOs and other higher-ups in a large company take a paycut to save the jobs of their lower level employees?

[benji]

but then how many CEOs and other higher-ups in a large company take a paycut to save the jobs of their lower level employees?

The smart ones don't get a salary of more than $1 in the first place.

[Andrew]

Touche.

Updated report: the extension is worth $83.5 million and includes a no-trade clause.

The extension begins in the 2011-12 season, when the Los Angeles Lakers star guard will earn $25.2 million. He’ll get $27.8 million in 2012-13 and $30.5 million in his final year, 2013-14, when he turns 35.

Under his current contract, Bryant is due to earn $24.8 million next season.