What happened: LeBron James signed a two-year, $8 million Philadelphia contract with a player option. The veteran-minimum deal follows his final season with the Los Angeles Lakers.
Why it matters: The discount gives Philadelphia a decorated veteran at a fraction of his previous cap charge. His full salary still counts against the cap, tightening the club's first-apron position.
By the numbers: James ranks behind 288 of the NBA's 436 players on active contracts, with 147 below him. His $3.9 million first-year salary represents a drop of about $48.7 million, or 93%, from last season.
What to watch: Philadelphia's remaining offseason moves will show how it manages the first-apron squeeze before 2026-27.