Many are wondering why Kobe Bryant hasn't already signed a contract extension with the Lakers.

Salary cap expert Larry Coon wrote a piece for the New York Times on Monday explaining why Bryant may wait to re-sign with Los Angeles.

"Bryant can guarantee himself more money by first becoming a free agent, and then re-signing with the Lakers," Coon wrote.

"The reason for this is pretty obscure ? the salary in the first year of an extension cannot exceed the player?s maximum salary (105% of the player?s previous salary, or the league-wide maximum salary by years of service, whichever is greater), and it is amended downward if necessary to conform to this rule. The start of Bryant?s extension would coincide with the start of the next collective bargaining agreement, which could change the way maximum salaries are calculated. If it does, the salary in Bryant?s extension would be subject to the new rules. Depending on how negotiations go, it is possible he could face a significant pay cut," he continued.

"However, by becoming a free agent in 2010 and signing a new contract instead, Bryant would lock in his salary entirely under the terms of the current agreement. His salary would not be subject to amendment in 2011, as it would be with an extension."