Los Angeles Lakers' LeBron James and Anthony Davis celebrate after the Lakers defeated the Miami Heat 106-93 in Game 6 of basketball's NBA Finals in Lake Buena Vista in Oct 11, 2020. (PHOTO / AP)

LOS ANGELES - LeBron James and Anthony Davis have re-signed with the NBA champion Los Angeles Lakers, the team announced on Thursday, in a move that sets the foundation for what could be the next great NBA dynasty.

Terms of the deals were not released but Finals MVP James reportedly signed a two-year, US$85 million extension while Davis signed a five-year deal worth US$190 million.

James and Davis overcame the January death of Lakers great Kobe Bryant and the pressure of playing the entire postseason in the league’s bio-secure bubble in Orlando to win the franchise its first championship in 10 years.

“LeBron James is a transcendent basketball player, and human being,” said Lakers general manager Rob Pelinka.

Terms of the deals were not released but Finals MVP James reportedly signed a two-year, US$85 million extension while Davis signed a five-year deal worth US$190 million

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“LeBron put his trust in the Lakers in 2018, and now this contract extension paves the way for LeBron to further solidify his legacy as an all-time Lakers great. We could not be more honored by this commitment.”

James started 67 games last season, averaging 25.3 points, a career-best and league-leading 10.2 assists, 7.8 rebounds and 1.2 steals in 34.6 minutes per game.

The four time champion turns 36 this month and the contract means he will likely don the purple and gold until his retirement.

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Davis, who joined the Lakers last offseason from the New Orleans Pelicans, averaged 26.1 points, 9.3 rebounds, 3.2 assists, 2.3 blocks and 1.5 steals in 62 games.

“In the Orlando bubble, Anthony Davis proved he is one of the game’s most complete and dominant two-way players,” Pelinka said.

“Now, Lakers fans get to watch AD continue to grow and lead our franchise for years to come. This is truly a blessed moment for Lakers Nation.”

The Lakers are tied with the Boston Celtics for the most championships in NBA history with 17.