 a new contract with the L.A. Lakers. James did not exercise his option to accept what would have been a $51.4 million contract for this coming season and instead is seeking a new deal with the L.A. Lakers. A person with knowledge of the decision said yes Saturday. The terms of the new deal could be finalized quickly, said the person who spoke to the Associated Press on condition of anonymity because neither James nor the Lakers revealed the decision publicly.