The Lakers have announced that they are extending the contracts of former first round picks Andrew Bynum & Jordan Farmar through the 2008-09 season.
Under the leagues collective bargaining agreement first round picks sign guaranteed contracts for the first two season with team options for the third and fourth years. Bynum was drafted 10th overall in the 2005 draft and Farmar was drafted 26th overall in the 2006 draft.
This extension will take Bynum into the 4th and final year of his rookie contract while Farmar will be extended into his third season. The team will have the chance to extend Jordan’s deal for a 4th year before the start of next season.
Here’s the text from the full press release
EL SEGUNDO – The Los Angeles Lakers have exercised a fourth year contract option on Andrew Bynum, it was announced today. Additionally, the team has also picked up the third year contract option on Jordan Farmar.
Bynum, an early entry candidate for the 2005 NBA Draft, became the youngest player in NBA history to be selected when the Lakers used their first round pick (10th overall) to acquire the 7’0” 285 lb. center. Appearing in all 82 games last season, Bynum averaged 7.8 points, 5.9 rebounds and 1.56 blocks in 21.9 minutes.
Farmar, the Lakers first round draft pick (26th overall) in the 2006 NBA draft, played in 72 games last season, averaging 4.4 points and 1.9 assists in 15.1 minutes. The 6-2 guard who also played in three games last season for the team’s D-League affiliate, the D-Fenders, made NBA history when he became the first player in league history to see action in same-day D-League and NBA games on April 1.