At the age of 38, he will become a free agent again in 2023 — the same year his eldest son Bronny graduates from high school.
Bronny James is currently a sophomore at Sierra Canyon high school in Los Angeles, and is considered to be one of the best high school basketball prospects in the country.
Elsewhere in the NBA, another family has had their dream come true, as all three Ball brothers now have contracts with NBA teams.
LiAngelo has had a more tumultuous journey to the NBA than his brothers.
Potentially faced prison time, US President Donald Trump intervened and asked Chinese President Xi Jinping to help, with the charges eventually dropped.
Westbrook moves again
The upheaval in Houston may not be over just yet.