Kobe Bryant has signed a two-year extension with the Los Angeles Lakers worth $48.5 million.

Bryant will earn $23.5 million in 14-15 and $25 million in 15-16.

The contract will essentially guarantee that Bryant remains with the Lakers for his entire career. Bryant's representatives have been negotiating with the Lakers over the past two weeks.

The Lakers will have one max contract slot available this offseason.

“This is a very happy day for Lakers fans and for the Lakers organization,” said Kupchak. “We’ve said all along that our priority and hope was to have Kobe finish his career as a Laker, and this should ensure that that happens. To play 20 years in the NBA, and to do so with the same team, is unprecedented, and quite an accomplishment. Most importantly however, it assures us that one of the best players in the world will remain a Laker, bringing us excellent play and excitement for years to come.”