Lakers sign Bryant to two-year contract extension

Kobe is, and will remain, a Laker for life.

The Los Angeles Lakers have signed Kobe Bryant to a two-year contract extension, General Manager Mitch Kupchak announced Monday.

Per team policy, terms of the contract were not released, but according to reports, Bryant is set to earn between $40 million and 50 million over the two-year period.

"This is a very happy day for Lakers fans and for the Lakers organization," said Kupchak.  "We've said all along that our priority and hope was to have Kobe finish his career as a Laker, and this should ensure that that happens. To play 20 years in the NBA, and to do so with the same team, is unprecedented, and quite an accomplishment.

"Most importantly however, it assures us that one of the best players in the world will remain a Laker, bringing us excellent play and excitement for years to come."

Bryant, a five-time NBA champion and 15-time All-Star, is still recovering from Achilles tendon surgery and, though he's practicing with the Lakers, Bryant has yet to make his season debut.

He will, however, remain the NBA's highest-paid player despite accepting a discounted deal.

It is unsure when Bryant will return to the court this season, but he will accompany the Lakers on their three-game road trip, according to the Los Angeles Times.

-- The LA Times contributed to this report