Kobe Bryant signs 3 year contract extension with the Lakers

Kobe Bryant stood before the media Friday night wearing a black and gray shirt rolled up to his elbows, black slacks and shoes. He had a smile on his face, which included a trimmed beard. Earlier in the day, Bryant signed a three-year, $84-million contract extension to remain with the Lakers for the next four seasons. Los Angeles Times

Bryant said that signing the contract "pretty much" assures that he'll finish his career as a Laker. He'll be 35 when the contract expires after 2013-14 season and said it's "possible" that this could be his last contract, adding, "I doubt it, but it's possible." Los Angeles Times

No financial details were disclosed, but it is expected Bryant will make nearly $90 million over the three-year extension - on top of the $24.8 million he is owed for next season. Bryant would earn $27.4 million in 2011-12, $30.2 million the following season and more than $32 million in his final year, The Associated Press reported. "I'm very excited to be here," Bryant said after the Lakers' 106-92 victory over the Utah Jazz on Friday at Staples Center. "It's very rare to have a player play his entire career in one city, so I am excited." Bryant will be 35 years old by the end of the deal - having played 18 seasons with the Lakers - and if this isn't the final contract of his illustrious career, certainly it will be his last long-term deal. "It's possible. I doubt it," Bryant said about the extension being his final contract. Los Angeles Daily News

Bryant's decision will come as a surprise to several GMs I've spoken with recently who are in the planning stages for this summer's free-agent signing period. They had begun to expect Bryant to make himself available to the highest bidder -- that Bryant was the free agent everyone kept forgetting about. It was never assumed that Bryant wanted to leave L.A., but rather that uncertainty over Jackson's future might compel him to keep his options open. CBSSports.com

"I wasn't tripping on how long it was taking," he said "I knew it would get done. I knew I was going to be here. There was no rush we both knew it would get done." ESPN.com


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Now that Kobe is signed LA can focus on getting a #1 point guard in the off season. They also need a true 3 point shooter like Kyle Korver who is a free agen this summer.

That move just about finishes the Lakers as far as adding anything more than just a MLE player and late first rounders for the next few years.

Without trading away Gasol, Bynum or Odom, the biggest addition possible for the Lakers would be a Artest-Sheed type of player. That is what the MLE will get these days.

With the Salary cap stuck in the low to mid 50 million range, that leaves the Lakers with a single player taking up over half of it. Add the salaries of Gasol, Bynum and Odom and that leaves the team with over 66 million in salaries for just four players, which may be over the penalty amount. Add Artest and it definitely is over the penalty.

Don't forget to add Luke Walton's bad contract to the mix. He'll be sitting on the bench collecting nearly 6 million per annum at the same time he is collecting DNP-CD's. Talk about laughing out loud!!

I thought that the Celtics salary situation was bad.

gyso

gyso wrote:That move just about finishes the Lakers as far as adding anything more than just a MLE player and late first rounders for the next few years.

Without trading away Gasol, Bynum or Odom, the biggest addition possible for the Lakers would be a Artest-Sheed type of player. That is what the MLE will get these days.

With the Salary cap stuck in the low to mid 50 million range, that leaves the Lakers with a single player taking up over half of it. Add the salaries of Gasol, Bynum and Odom and that leaves the team with over 66 million in salaries for just four players, which may be over the penalty amount. Add Artest and it definitely is over the penalty.

Don't forget to add Luke Walton's bad contract to the mix. He'll be sitting on the bench collecting nearly 6 million per annum at the same time he is collecting DNP-CD's. Talk about laughing out loud!!

I thought that the Celtics salary situation was bad.

gyso

Walton does not accrue many DNP-CD's. He has been injured almost all year. LA really likes what he does coming off the bench but yes, he is overpaid. Every team has had some bad contracts (Antoine Walker, Vin Baker for Bos).
LA is the has the highest revenue generating team in the league. I don't think it is a problem to pay the salaries and $25m each year for the luxury tax.
I expect that teams will be able to get better players then Artest and Wallace with the MLE because of the economic condition in the NBA. There will be many signing at hte veteran minimum.

The Lakers is always an attractive team too, usually stay in the mix.

Easier to attract players for good value if you have a good core and a superstar like Kobe. Some people wanna win/boost their value and will sign to deals for cheap for a year or two.