O’Neal’s Aim Could Be to Swish New Bank Shot

Opt out, then commit to the Lakers for seven more years and $151.62 million?

With only days left to decide and little need or desire to leave the Lakers, that’s the very intriguing possibility facing Shaquille O’Neal, who must inform the Lakers by Sunday whether he will tear up the remaining four years and $81.47 million of his original Laker deal to become a free agent.

O’Neal’s agent, Leonard Armato, acknowledged Thursday that he and his client were contemplating the use of the opt-out as a precursor to lengthening his commitment to the Lakers, and theirs to him, to the maximum levels of time and money as allowed by the new labor deal.

“It’s certainly a consideration, no question about it,” Armato said. “At the appropriate time, we’ll sit down and talk with the Lakers.”

If O’Neal were to opt out by Sunday’s deadline, he could not hold negotiations with any team, including the Lakers, until July 1, and could not sign or agree to any deal until Aug. 1.

But given O’Neal’s respect for Phil Jackson, as repeated by Armato again Thursday, and his desire to win in L.A., departing as a free agent appears unlikely.

If O’Neal erases the final $81.47 million and four years of his existing Laker contract by the deadline, salary-cap rules would allow the Lakers to sign him to a maximum seven-year, $151.62-million package.

Armato said that O’Neal has not decided whether to exercise the opt-out clause, and wouldn’t until “right before” the deadline.

Under a new Laker deal, O’Neal would lose a total of $6.6 million over the next four seasons (for instance, his maximum 1999-2000 salary would be $15.75 million if the deal is redone; under the old terms, he would be due $17.4 million) because of the limits placed on salaries and salary increases by the new labor deal.

But a new maximum agreement would guarantee him an additional $70 million and commit him to the Lakers for three extra years.

He could be guaranteed maximum salaries of $23.63 million in 2003-04, $25.6 million in 2004-05 and $27.57 million in 2005-’06.

If O’Neal and the Lakers do forge a new seven-year deal, and you count his first three seasons with the Lakers, he would be paid more than $190 million in his 10-year tenure.

And O’Neal sounds very eager to be around the Lakers and Jackson for the long-term.

Asked about Jackson’s comments that suggest he wants the Laker players to commit to an off-season workout program, probably in L.A., Armato said O’Neal would do anything Jackson requested of him.

“I haven’t talked to him about it, but I’m sure whatever Phil asks Shaq to do, Shaq’s very willing to do it,” Armato said. “If Phil wants an off-season program, Shaq will definitely participate in it.”

Later, in a statement, Armato said:

“Shaquille looks forward to maximizing his potential as a player under Coach Jackson’s tutelage and rededicating himself to the Lakers’ drive for a championship.”

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Big Deals

The top five deals in the NBA (in millions). Garnett’s deal is over six years:

* 1. Kevin Garnett, Minnesota: $126

* 2. Shaquille O’Neal, Lakers: $120

* 3. Alonzo Mourning, Miami: $112

* 4. Shawn Kemp, Cleveland: $107

* 5. Juwan Howard, Washington: $100.8