Why did LeBron James opt out? Lakers star headed for free agency despite Bronny James selection

Bronny James is a Laker. By Sunday night, LeBron James won't be.

James intends to opt out of his contract with the Lakers, declining a $51.4 million player option to hit free agency along with the rest of the class at 6 p.m. ET on Sunday.

James is entering his 22nd NBA season, but he hasn't shown many signs of slowing down. While retirement talk has bubbled up a bit over the last two years, there was little doubt James would keep playing with his son in the NBA.

Could James really pass on the opportunity to be teammates with Bronny? Here's what you need to know about the reasoning behind the NBA great's decision to become a free agent.

MORE: Tracking the latest LeBron James free agency rumors

Why did LeBron James opt out?

James is expected to sign a new deal with the Lakers, according to The Athletic's Shams Charania . While that might not stop certain teams from trying to lure him away, the report comes as no surprise after the selection of his son and the hiring of his close friend, JJ Redick, as head coach.

So, why would James opt out at all? There are a few benefits.

Rather than play out the final season of his contract for $51.4 million, James is eligible to sign a three-year, $162 million deal to stay in Los Angeles. That's not only an increase of $2.6 million for the 2024-25 season, but it affords the four-time NBA champion more long-term security through his 24th season.

A new deal in free agency would also allow James to secure a no-trade clause, if he wishes. A no-trade clause would not have been possible with a simple extension keeping him off the open market. It's highly unlikely the Lakers would trade James without his permission to begin with, but most players value that kind of security.

James' new contract could also create some flexibility for the Lakers. He's hoping to open up a mid-level exception with his new deal, according to Bleacher Report's Chris Haynes , which would allow the team to add a piece.

James' foray into free agency could also put pressure on the Lakers to upgrade their roster. If he isn't happy with the way the team is built, James could entertain interest from other teams and force GM Rob Pelinka's hand to trade for an impact player.

It's not uncommon for James to enter free agency without any expectation of leaving his current team. He opted-out of his deal with the Cavaliers in both 2015 and 2016 despite no realistic chance of exiting Cleveland. James even remained a free agent for six weeks in 2016, not re-signing with the Cavaliers until mid-August, without any speculation that he might sign elsewhere.

Lakers fans shouldn't panic despite the uncertainty of James entering free agency. After recent moves by the franchise, it would be a giant surprise to see the all-time points leader leave Los Angeles.

MORE: NBA players react to Lakers' Bronny James selection

LeBron James contract projection

James is eligible to sign a three-year, $162 million contract to return to the Lakers. That would pay him $54 million per year through the 2026-27 season, which would be his 24th in the NBA.

A long-term contract doesn't by any means guarantee that James isn't retiring until 2027, but it does provide long-term security and potentially a no-trade clause that puts the star in control of his future. The contract would also boost his salary from the $51.4 million mark that he would've made if he had exercised his player option.

James is set to cruise past $500 million in career earnings next season, simply from NBA contracts alone.

How old is LeBron James?

James is 39 years old. He's set to turn 40 on Dec. 30.

It goes without saying James has been otherworldly in recent years considering his age and the ridiculous amount of wear-and-tear on his body. James averaged 25.7 points, 7.3 rebounds and 8.3 assists per game in his age-39 season, posting his highest field goal percentage in seven years.

While 40-year-olds don't typically make $54 million per year, let alone actively play in the NBA at all, the Lakers aren't expected to have any qualms about giving James the contract he's looking for.