LeBron James is heading to Philadelphia. The four-time MVP and NBA’s all-time leading scorer will sign a two-year, $8 million contract with the 76ers, his agent Rich Paul told ESPN. The deal includes a player option in the second year.
James announced the decision Friday on X, calling it his “last decision” and framing the move in terms that had nothing to do with compensation.
“I’m not going for money. I’m not going for family,” James wrote. “What am I really playing for at this point? I still want to sacrifice. I still want to work. I still want to grind. I still want to compete, to win and to have a chance at the feeling of winning.”
He added: “I believe I can help make the Philadelphia 76ers a championship team and I am so excited to energize a new fan base and start this incredible journey one last time.”
The contract is a veteran minimum deal — the only mechanism available to a Sixers team operating hard-capped at the first tax apron. Spotrac lists the agreement at two years and $7,946,884, with Year 1 carrying a $3,876,529 cap hit. Because James has more than three years of service, the NBA subsidizes a portion of the salary; only $2.4 million counts against Philadelphia’s books.
That number requires context. James earned $52.6 million last season with the Lakers. His previous contract — a two-year, $101.4 million extension signed using Bird rights — averaged $50.7 million annually. He has banked $581.4 million in career salary. The new deal represents a 92 percent pay cut, the kind of reduction that only makes sense when the player has decided the only remaining currency is rings.
ESPN’s Shams Charania reported earlier in the week that James was content with a minimum salary if it meant joining a Finals contender. Philadelphia fit the profile. The Sixers acquired Jaylen Brown this offseason and signed Anfernee Simons to a two-year, $12.3 million deal, pushing their projected payroll to $205.6 million — $3.4 million below the first apron threshold they cannot cross after using the non-taxpayer mid-level exception.
Miami was the other finalist. Pat Riley traded for two-time MVP Giannis Antetokounmpo, constructing a Big Three with Bam Adebayo that seemed to position the Heat as the logical landing spot. James chose Philadelphia instead, returning to a city that pursued him in both 2014 and 2018 without success.
James, 41, is coming off a season in which he averaged 24.4 points, 8.2 assists, and 7.8 rebounds and earned All-NBA Second Team honors. He spent eight seasons in Los Angeles, winning the 2020 championship inside the bubble. He has now won titles with every franchise he’s played for — Cleveland, Miami, and the Lakers — and will attempt to make it four-for-four.
The Sixers have one roster spot open. James fills it at the lowest salary the CBA allows for a player of his tenure, on a team that was already built to contend before he arrived.
Sources: