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Official: LeBron James signs $153.3-million contract with Lakers

The biggest free agent acquisition the Lakers have had in years — maybe ever — signed his contract at one of his homes in Brentwood on Monday afternoon. The contract is worth $153.3 million over four years and includes a player option for the fourth year. Rob Pelinka as Lakers representative and Rich Paul as James agent, both appeared in the official twitter account of Pelinka smiling with the new Lakers star in the middle of them.

For eight days after James’ representatives announced his decision, the Lakers avoided any mention of their new superstar. They kept their young players unavailable for comment, for fear of what they might say. Lakers coach Luke Walton and general manager Pelinka remained mum as they took in games during the Las Vegas summer league.

The Lakers, who twice ran afoul of league rules in the past year, were especially cautious not to do so again by announcing a deal with James before it was signed.

But on Monday the Lakers were freed from such constraints.

Joey Buss, the second youngest of the siblings who co-own the Lakers, added James to a long list of Lakers legends in welcoming him.

“LA has welcomed the arrival of Rabbit, Logo, Stumpy, Big Dipper, Captain, Silk, Magic, Big Game, Diesel, Mamba, Spaniard and now welcomes a King!!” Buss tweeted.

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