Kobe Bryant Signs Two-Year $48.5million Extension With The Lakers

Kobe Bryant signed a two-year, $48.5 million extension that will keep him with the Los Angeles Lakers through the 2015-16 season, the team announced today.

Because of Kobe's advanced age, and his "#Laker4Life" tweet after signing the deal, it appears that he will retire when this deal is over in 2016.

The contract will make him the only player in NBA history to play 20 seasons with one team.
But he's taking a pay cut to do so.

Kobe will make $23.5 million in 2014-15 and $25 million in 2015-16, according to widespread reports.

The second-highest paid player in the league, Dirk Nowitzki, makes $22.7 million. LeBron James makes $19 million.

Even though he's taking a $7 million annual pay cut and leaving $19 million on the table over two years, he's still going to be the highest-paid player in the league.

And even though the Lakers got a discount on Kobe, they're still committing a huge chunk of their salary cap to a guy who will be 37-years old in 2015-16 and is coming off a torn Achilles. Despite the pay cut, it's an incredibly costly move for L.A.