LeBron James 'is willing to take a $20MILLION pay cut to help the Lakers improve' - after they drafted his son Bronny, 19, to the team

READ MORE: Bryce James, 17, reveals whether he too will play with dad LeBronREAD MORE: LeBron James opts out of $51.4million Los Angeles Lakers deal

LeBron James has indicated he is willing to take as much as a $20million annual pay cut to help the Los Angeles Lakers, according to a new report.

LeBron has been with the team since 2018 - winning a championship in the Covid-affected 2020 season - and they selected his 19-year-old son Bronny at No. 55 overall in this week's 2024 NBA Draft.

Just hours later, LeBron opted out of his $51.4m player option - and it has now been reported by ESPN's Adrian Wojnarowski that he is willing to take a huge wage decrease if it enables the team to strengthen their roster.

When asked what James' decision to opt out meant, Woj explained: 'It means, No. 1, that LeBron James plans to return to the Lakers, but the question is: What kind of contract does he do moving forward?

'What LeBron James has told the Lakers, is essentially: If the Lakers have the chance to get at a couple of the impact players that are available in free agency, with their mid-level exception, that LeBron James is willing to take less money on this deal.

LeBron James looks set to take a huge pay cut in order to help the Los Angeles Lakers improve

Earlier this week LeBron was officially joined in Los Angeles by his son Bronny, 19

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Bronny James is a LAKER! LeBron's son is drafted by LA in the second round of the 2024 NBA Draft

'It would be considerably less money, maybe upwards of $20million, so the Lakers can have their full mid-level exception. That's why the Lakers are preparing pursuits now of Klay Thompson, Jonas Valanciunas - the center from New Orleans who's another player in this free agency class that's a veteran and accomplished.'

Wojnarowski went on to explain that the options in free agency are expected to be limited, and so it is expected that the Lakers will move early - perhaps as soon as the first night.

He then went on to explain, on ESPN's NBA Today show: 'If the Lakers can't land one of those players using that $13m mid-level exception, then ultimately LeBron James takes his full max, which on a three-year deal is $160million plus.'

The four-time NBA champion, now 39, has further cemented his legacy as one of the greatest in history since moving to LA back in 2018.

After picking up four rings while setting the all-time NBA points record in spells with the Cleveland Cavaliers and Miami Heat as well as the Lakers, Bronny's arrival is likely to provide him with a new incentive and motivation next season.

Bronny's selection comes after weeks of speculation about when he would be picked in the NBA Draft - with a range being set from the first round to going undrafted altogether.

LeBron (pictured in 2007 with Bronny) has often talked about his desire to play with his son

It's a family affair in LA and now Savannah (left) will be able to watch her husband AND son

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But now the former USC Trojans guard will be staying with a basketball team in Los Angeles.

Bronny's single season of college basketball turned out to be a major disappointment after he suffered a cardiac arrest while practicing in July of 2023.

He was cleared to return to the court, but averaged only 19.4 minutes over 25 games for the Trojans, while scoring just 4.8 points per outing.

There was much debate in the run-up to this year's draft about whether or not LeBron's son was ready to take on the NBA.

But the Lakers decided they'd seen enough and selected the teenager anyway despite his limited experience and stats from college.