The Los Angeles Lakers are signing No. 55 pick Bronny James to a four-year, $7.9-million contract, sources told ESPN's Dave McMenamin

The multi-year agreement reportedly contains a team option in the final year. The pact is also fully guaranteed, sources told The Athletic's Shams Charania.

James was selected near the end of the second round of last week's NBA draft and is slated to team up with his father, LeBron James, who's widely expected to re-sign with the Lakers after opting out of his deal ahead of free agency.

"Bronny has earned this through hard work," Lakers head coach JJ Redick told reporters, including ESPN's Dave McMenamin, at L.A.'s introductory press conference for James and first-rounder Dalton Knecht.

Unlike first-round picks, who are designated a four-year deal based on when they are selected, second-rounders are free to sign any type of contract.

In the 2023 NBA Draft, 15 players signed guaranteed deals, three were stashed overseas or in the G League, and 10 inked non-guaranteed two-way contracts. Only three players drafted after pick No. 44 signed guaranteed deals.

James played largely a reserve role in his one season at USC as he recovered from an offseason heart issue. He averaged 4.8 points, 2.8 rebounds, and 2.1 assists in 19.3 minutes per game.