Kobe signs 2-year extension

The Lakers did not announce financial terms, but a source told ESPNLosAngeles.com's Ramona Shelburne that the deal is worth $48.5 million.

That's $23.5 million next year, and $25 million next year. The huge extension clogs up LA's salary cap next year, but the huge amount of cap space was a myth anyway. Kobe was never going anywhere - and that is just how it should be.

Good on the Lakers for handling this now to avoid the circus.