It was starting to look like Andrew Bynum and the Lakers wouldn’t be able to agree on a contract extension, but the L.A. Times is reporting that a deal is being finalized.
The Lakers and Andrew Bynum have agreed in principle on a four-year contract extension worth about $58 million, keeping their center of the future in the fold through the 2012-13 season, according to sources familiar with the negotiations who would not speak publicly.
Bynum, who will make $2.8 million this season, will earn close to $42 million over the first three years of his contract extension. The fourth year will be a team option for about $16 million.
At $14 million per season (for three years) and a team option for a fourth year at the tune of $16 million, Bynum is definitely getting paid on potential rather than his current skill set. Last season, he averaged 13.1 points, 10.2 rebounds and 2.1 blocks in 35 games. Those aren’t $14 million per year numbers, but considering that Bynum is a 21 year-old seven-footer, the contract is more “reasonable.” It’s not a bad deal for either party, as the Lakers get the option to get out of the contract after three years (if Bynum gets injured again or is a bust) while Bynum will become a free agent again at the age of 25, when he’ll be in line for a max deal.
