The LA Times reports that the Lakers will offer Kobe Bryant a three-year, $54.8-million contract extension, the maximum allowed under the collective bargaining agreement, after the season, and Bryant might not accept.

In the third year of a six-year extension that expires after the 2004-05 season, Bryant is due $40.5 million in the next three seasons.

Then, by the same process that brought teammate Shaquille O'Neal a three-year, $88.4-million extension 11/2 years ago, Bryant would be due $16.4 million, $18.3 million and $20.1 million through the 2007-08 season. "I haven't decided yet," Bryant said Friday afternoon.

Including a final-year owners' option almost certain to be exercised, the collective bargaining agreement expires after 2004-05, the same time as Bryant's contract. Bryant voted against the agreement then and remains opposed to it.

Therefore, he could opt to sign a new free-agent contract under the next agreement, with the assumption that that agreement would be more player friendly, with a less restrictive salary-cap structure.