Anthony Davis has agreed a new five-year deal with the Los Angeles Lakers, while LeBron James is set to sign a two-year extension.

He added that Davis has the option to terminate it prior to the fifth year.

James, 35, is set to sign a deal worth a reported $85m (£63m), which will run until the end of the 2022-23 season – his 20th in the NBA.

James will become a free agent in the same year in which his 16-year-old son Bronny is slated to enter the NBA when he graduates from high school.

His career earnings will approach $435m (£324m) by the end of his Lakers deal.

James and Davis helped the Lakers to their first NBA title in a decade in October.

James was named the finals’ most valuable player and became the first player to win the title with three different teams, having twice won it with Miami Heat and once with the Cleveland Cavaliers.

The Lakers will play the Los Angeles Clippers in their opening game of the new NBA season on 22 December.

James says the Lakers “absolutely can” retain their title, telling the ‘Road Trippin” podcast: “We can. I mean, it’s that simple.”