Do LA Lakers still have $12.8 million midlevel exception available after LeBron James' max deal? Taking a closer look

LeBron James will not take a pay cut with the LA Lakers. The unrestricted free agent returned to the team on a two-year $104 million contract, with a player option in the second year. The deal will have a no-trade clause, making him the only player apart from Bradley Beal to boast the luxury. It's the most LeBron could sign for over two years.

James was reportedly pondering taking a pay cut if that allowed the Lakers full access to the $12.8 million exception. However, rumored targets like Klay Thompson, James Harden and Jonas Valanciunas signing elsewhere seem to have changed LeBron's decision.

As a result, the Lakers are $1.2 million over the second apron, with 15 guaranteed contracts. They don't have much wiggle room to make moves and marquee additions. That includes losing the entire $12.8 midlevel exception. The Lakers can now sign players to only veteran minimum deals.

They will need to shed salary via three different trades into the cap space of other teams to create some room and fall under the first apron, where they could use the $5.8 midlevel exception instead of the $12.8 million exception. However, if the Lakers shed enough salary to go under the first apron, it opens up more room for them to make trades.

For now, they can't take back more salary in a trade, acquire players via sign-and-trades, or have access to the midlevel exception. The LA Lakers can't sign players in the buyout market who had their last deal with an annual income of $12.8 million or more.

All signs point towards LA Lakers not making upgrades around LeBron James

The LA Lakers' offseason hunting seems done for now. All their potential targets have signed elsewhere. Meanwhile, D'Angelo Russell, Jaxson Hayes, Christian Wood and Cam Reddish opted into the final year of their deals. The Lakers also offered guaranteed contracts to rookies Dalton Knecht and LeBron James' son, Bronny James.

It makes it increasingly tough for them to make the necessary moves to get below the second and first apron. There are talks LeBron could end up taking a $1 million haircut on his reported max deal, which puts the Lakers under the second apron. However, it's unlikely to make much difference unless LA gets a discount deal on a coveted free agent target with the $5.8 million mid-level exception.

The LA Lakers only had two players, Taurean Prince and Spencer Dinwiddie, go unretained this summer from last year's squad.