LeBron James has taken the biggest pay cut in NBA history, dropping from the $52.6 million he was owed with the Los Angeles Lakers to just $3.8 million with the Philadelphia 76ers. The 41-year-old, the league's all-time leading scorer, will spend a record 24th season in the City of Brotherly Love. He spelled out his reasoning on social media: "This is my last decision. I'm not going for money. I'm not going for family... I still want to compete, to win and have a chance at the feeling of winning another championship." His salary next season will sit below that of 287 NHL players, yet his worth on the court remains huge. For "The King," as he made clear, a title matters more than the money.
The move hands Philadelphia one of the deepest rosters in the league. Joel Embiid, who dreamed of playing alongside James as far back as 2014, has finally landed the co-star he waited 12 years for. Team president Mike Gansey engineered a summer overhaul. Before James arrived, the 76ers acquired Finals MVP Jaylen Brown from the Boston Celtics, parting with Paul George and draft picks to get him. The starting lineup now runs Embiid, Brown, Tyrese Maxey, young VJ Edgecombe and James. The bench was reinforced too, with Anfernee Simons and Dean Wade coming in. A franchise that has not won a title in 43 years is going all-in.
The betting markets reacted at once: FanDuel shortened Philadelphia's championship odds from +2000 to +1000. Yet the structure of James's multi-year minimum contract complicates the club's room to manoeuvre against the salary cap, since the league does not cover the difference in this case. And while some critics poke fun at his age, LeBron's impact on the floor is as vast as ever.
