INGLEWOOD, Calif. -- Kobe Bryant signed a six-year contract extension
with the Los Angeles Lakers on Friday believed to be worth nearly $71
million.

Bryant, who doesn't turn 21 until August, has one year
remaining on the contract he signed before his rookie season in
1996.

The extension starts with next season, and runs through the
2004-2005 season. Once it takes effect, Bryant will be the
second-highest paid Laker, behind Shaquille O'Neal.

Bryant will reportedly earn $14.62 million in the final year of the contract, and
will be just 26 when it expires.

"We're very pleased to get this contract done," executive vice president of
basketball operations Jerry West said. "As I've said since we traded for Kobe
back in 1996, we think he's one of the most talented young players in the
NBA."

Bryant was the 13th player selected in the 1996 NBA draft, being taken at
age 17 by the Charlotte Hornets after attending Lower Merion, Pa., High. He
was then traded to the Lakers for center Vlade Divac, who is now with the
Sacramento Kings.

Bryant averaged 7.6 points in 71 games for the Lakers as a rookie, and 15.4
points, 3.1 rebounds and 2.5 assists in 79 games last season, when he had the
highest scoring average among non-starters in the NBA and became the
youngest player in league history to play in an All-Star game, much less start in
one.

"He's going to continue to improve and make us a better team as he does so,
and we're glad to know he'll be a Laker for years to come," West said.
"Kobe's also a wonderful person who conducts himself with class, dignity and
respect off the court as well as on it."

It's believed Bryant will earn the maximum allowable under the new collective
bargaining agreement.

"I've loved my two years with the Lakers and am looking forward to the
future," said Bryant, who will likely continue his role as a sixth-man this
season. "The team, the fans and the city have been so supportive and great to
me. I'm thrilled with my new contract extension and hope and plan to be a
Laker for life."

Bryant previously said he grew up "being a huge Laker fan," and called playing
with the Lakers "a dream."

The NBA has given teams a seven-week window which opened Jan. 21 to
use the so-called "Bird rights" to extend the contracts of second-year players
for any salary up to the maximum, regardless of salary-cap limitations.

Allen Iverson and Shareef Abdur-Rahim -- two other prominent players who
began their NBA careers the same time as Bryant, both signed six-year
contracts worth nearly $71 million this week with the Philadelphia 76ers and
Vancouver Grizzlies, respectively.

Bryant's new deal is believed to be very similar to the contracts signed by
Iverson and Abdur-Rahim. The contract for Bryant, as with Iverson, is
believed to have an "out" clause after five seasons.