Los Angeles, CA (Sports Network) - Los Angeles superstar guard Kobe Bryant will not opt out of the final two years of his contract with the Lakers.

Team spokesman John Black confirmed Bryant's decision on Wednesday.

Earlier Wednesday The Los Angeles Times reported that Bryant, who had reportedly said in the past that he would terminate the final two years of his contract, will sign a three-year extension with the team some time over the summer.

According to the newspaper, Bryant will make $47.8 million over the next two seasons and could make up to $91 million with the extension, depending on what the NBA salary cap is in 2011.

Bryant led the Lakers to their 15th title this past season as Los Angeles defeated Orlando in five games. During the finals, Bryant averaged 32.4 points, 5.6 rebounds and 7.4 assists per game and was named MVP of the series.

It was the fourth time in his career that Bryant won a championship and first since Shaquille O'Neal's departure from the team following the 2003-04 season.

Over his 13-year career, he has averaged 25.1 points, 5.3 rebounds and 4.6 assists over 948 games. The 11-time All-Star also has averages of 25.0 points, 5.1 rebounds and 4.7 assists over 175 playoff games.