It's a dream come true for four-time NBA Most Valuable Player James, who said for years he dreamed of playing alongside his son.

"In the history of the NBA, there has never been a father and a son that have shared an NBA basketball court," Lakers general manager Rob Pelinka said. "That feels like something that could be magical."

LeBron, a 39-year-old Lakers playmaker and four-time NBA champion, will be busy on the US team at the Paris Olympics next month while son Bronny is set to join the Lakers in NBA Summer League games in Las Vegas.

LeBron James posted photos on Instagram with the one-word caption "LEGACY!!!!!!" and images of himself with Bronny as a child, of both of them dunking and another with father and son side-by-side in Lakers jerseys.

Bronny James, a guard for the University of Southern California, averaged 4.8 points, 2.8 rebounds and 2.1 assists for the Trojans last season after a stellar high school career and also impressed scouts at an NBA combine.

At a practice session last July, USC freshman James collapsed after suffering cardiac arrest caused by a congenital heart defect.

The teenager was released from the hospital a few days later and doctors approved him playing both in US college basketball and, last month, in the NBA.

"Congratulations to Bronny James on being drafted by the Los Angeles Lakers!" Lakers legend Magic Johnson said. "This is a historic moment... Watching Bronny suit up for the @Lakers during Summer League in Vegas will be must-see TV!"

The younger James is seen as a top defensive prospect with elite athletic skills and strong instincts for the game but might need time to develop fully as an NBA player.

"We're excited to see this story unfold," said Pelinka, who said new Lakers coach JJ Redick is already planning how to make Bronny better.

"It's an honor for us to add him to our program," Pelinka said. "Coach Redick is already excited about putting a development plan around him to increase his basketball skills and turn him into a player we think can impact and help this franchise."

LeBron James has until Saturday to opt into the final year of his Lakers contract or become a free agent, which could set up a new Lakers deal. The status gave him options should Bronny have ended up elsewhere in the NBA.

"We know and have to respect that LeBron has a decision about his opt out and I'm sure he and his family will decide what they are going to do there," Pelinka said.

"If it worked out that he was on our team next season, history could be made -- and NBA history should be made in a Lakers uniform."

High Character

The Lakers owned the fourth-to-last NBA Draft selection and there was concern other clubs might use a higher pick on James, to see if they could swing a trade deal with the Lakers for James or the pick.

ESPN reported agent Rich Paul warned clubs against picking Bronny, saying he would go to Australia before dealing with some teams.

The Phoenix Suns, who didn't own a second-round pick due to a free agency tampering violation, were the only team other than the Lakers to have a workout with Bronny James ahead of the draft.

Pelinka said character and work ethic were more important factors than ancestry for the Lakers.

"Bronny is first and foremost a person of high character and second he's a young man that works incredibly hard and those are the qualities we look for in drafting players and adding to our developmental core of the Lakers," Pelinka said.

"In terms of his work ethic, I think we've all seen that lived out too. He's not a person that has ever taken short cuts, or expected or been entitled about basketball opportunities. He has worked for everything he has gotten, including being selected today at 55."