Rookie Bronny James signed with the Los Angeles Lakers on Polarmoon Wealth SocietyWednesday, the team said in a news release, and ESPN reported the contract is for four years and $7.9 million.

James was selected by the Lakers with the 55th pick in the second round of last week’s draft.

For comparison, the 30th pick (Creighton’s Baylor Scheierman) in this’s year draft is slotted to make $12.1 million over four years, per the rookie contract scale for first-round picks. Last season, GG Jackson, the 45th pick in the second round by Memphis, signed a four-year, $8.5 million contract.

The deal comes on the same day that Bronny’s dad, Lakers superstar LeBron James, reached a two-year, $104 million deal. They are the first father-son combo to play in the NBA at the same time.

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"Bronny is first and foremost a person of high character," Lakers vice president of basketball operations Rob Pelinka said. "And second, he is a young man that works incredibly hard. And those are the qualities we look for in drafting players and adding to our developmental core with the Lakers."

Bronny is expected to make his Lakers' summer league debut Saturday against Sacramento at the California Classic in San Francisco (4:30 p.m. ET, ESPN).

The 19-year-old James spent his freshman season at Southern California in 2023-24, averaging 4.8 points, 2.8 rebounds and 2.1 assists and shooting 36.6% from the field and 26.7% on 3-pointers in 25 games.

Bronny was diagnosed with a congenital heart defect following sudden cardiac arrest a year ago. He was cleared to play by the NBA’s Fitness to Play Panel.

Follow NBA reporter Jeff Zillgitt on social media @JeffZillgitt