Kobe Bryant has signed a two-year contract extension with the Los Angeles Lakers, which means he likely will 
have a 20-year career.
The Lakers did not announce financial terms. Bryant is the highest-paid player in the NBA this season, making $30.4 million. He and Michael Jordan are the only NBA players to make $30 million in one season.
Bryant was eligible to receive 105 percent of his current salary, which would put his 2014-15 earnings at almost $32 million. However, reports out of Los Angeles say the value of the extension is $48.5 million, allowing him to remain among the game’s highest-paid players.
Unless he opts out, New York Knicks forward Carmelo Anthony is scheduled to make $24.35 million in 2014-15. The following season, Joe Johnson will make $24.89 million as the highest-paid player.
By taking a pay cut, Bryant may allow the Lakers sign perhaps two free agents to maximum contracts, although one may have to be a player still in his first six years in the league. The Lakers may also have to convince Steve Nash to retire or use the stretch provision in waiving him.
The Lakers are accustomed to competing for championships. They were committed to just $12.67 million in salaries for the 2014-15 season and are expected to be a huge player in the summer free agent market.
Veteran stars who could be free agents come July include Anthony, LeBron James, Dwyane Wade, Chris Bosh, Luol Deng, Paul Pierce, Dirk Nowitzki, Danny Granger, Zach Randolph and Rudy Gay.
Bryant’s return from a torn Achilles tendon suffered in April could be as early as this week. He has been practicing with the team, taking an occasional day off due to “general soreness,” although not necessarily in the repaired tendon.
“This is a very happy day for Lakers fans and for the Lakers organization,” GM Mitch Kupchak said. “We’ve said all along that our priority and hope was to have Kobe finish his career as a Laker, and this should ensure that that happens. To play 20 years in the NBA, and to do so with the same team, is unprecedented, and quite an accomplishment. Most importantly however, it assures us that one of the best players in the world will remain a Laker, bringing us excellent play and excitement for years to come.”
The only NBA players to last 20 or more seasons are Robert Parish (21), Kevin Willis (21) and Kareem Abdul-Jabbar (20). Brooklyn Nets forward Kevin Garnett is in his 19th season and has one year remaining on his deal.
Bryant, 35, is the Lakers’ all-time leading scorer. He has won five championships, three NBA Finals MVPs and was the NBA MVP in 2008. He also won gold medals with Team USA in the 2008 and 2012 Olympics.