LeBron James will be in search of a new contract but likely not a new team.

The former MVP and four-time NBA champion intends to opt out of his $51.4 million player option, but it’s expected that he will return to the Lakers, according to The Athletic.

LeBron James is expected to opt out of his Lakers contract, but return to L.A.AP

James has an added incentive to return to L.A., as the Lakers drafted his son Bronny in the second round of the 2024 NBA Draft with the No. 55 pick overall.

They would become the first father-son duo to play together in the NBA.

LeBron James is coming off his sixth season with the Lakers, where he shot a career-best 41 percent from downtown, but the team lost in the opening round of the playoffs to the Nuggets.

“I am a Laker and I’m happy and been very happy being a Laker the last six years and hopefully it stays that way,” LeBron said in February, per ESPN.

De’Angelo Rusell opted into his $18.7 player option to remain with the Lakers on Saturday.

Should James return to the Lakers as expected he will have a new head coach J.J. Redick, who took over for Darvin Ham after two seasons.

James has a strong relationship with Redick. They co-hosted a podcast that delves into the game’s antics.

The Lakers organization is keen on keeping James around.

LeBron James would get to play in the NBA with his son Bronny should he return to the Lakers as expected.AP

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Multiple reports claimed that the Lakers would offer him a longer deal that starts at a lower mark but would allow James to average more over the duration of the contract if he declines his $51.4 million player option.

James earned his four rings with the Miami Heat (2012, 2013), Cleveland Cavaliers (2016) and the Lakers in 2020.