`THIS IS THE PLACE I BELONG'; LOYALTY, FAMILY LEAD WEST TO AGREE TO CONTRACT EXTENSION WITH LAKERS.

Byline: Howard Beck Daily News Staff Writer

The imaginary scales in Jerry West's psyche were at a perfectly weighted deadlock: On the side marked ``resign'' were the immense stresses of running one of the NBA's top franchises. On the other scale, marked ``stay,'' were the great joys of doing that same job.

Balanced scales meant indecision for the 60-year-old executive vice president, who contemplated walking away after 16 years at the helm of the Lakers.

But then the scales tipped hard. There was his commitment to young stars Shaquille O'Neal and Kobe Bryant, the emotional investment West had made in this dynasty-in-waiting, his feelings of loyalty. And, finally, the look on the faces of West's two sons.

``Some pretty long faces,'' West noted. Ryan and Jonnie West, ages 19 and 10 - and perhaps Shaq's two biggest fans - wouldn't let Dad walk away.

``(They) absolutely love the Lakers, and they particularly love (O'Neal). . . . There was one point when my two boys came into the room . . . and the first question out of their mouths was, `Are you still gonna get season seats?' ''

The West family's seats are safe, as is the future of the Lakers, with Jerry West's signing of a four-year contract extension Thursday morning. The deal, reportedly worth $3.5 million annually, goes into effect in 1999 and runs through the 2002-03 season.

A burned-out, stressed-out West spent the summer considering everything from a sabbatical to resignation to retirement. And he also considered at least one tempting, highly lucrative and ``challenging'' opportunity elsewhere that he declined to detail.

Then, two weeks ago, just before West departed for his home away from home in West Virginia, Lakers owner Jerry Buss offered the new contract - which, West insists, is ``not something that I asked for. . . . This isn't about money.''

But the offer clearly influenced his decision. West requested a small alteration in the deal, and on the evening of Aug. 27, Buss called and agreed to the change. A short while later, around 12:15 Friday morning, West's months-long quandary ended.

``This is the place I belong,'' West told reporters Thursday.

The irony is he might not have reached that conclusion without an assist from the labor-troubled league. NBA owners imposed a lockout of players July 1, halting all business and giving league executives an extended vacation.

``A godsend,'' West said of the lockout, ``because once the (June 24) draft was over, I could start to work on myself. . . . I can honestly tell you that if we had not had this time, I may not have made this decision.''

West's departure could have thrown a remarkably stable franchise into turmoil. After 16 years under West, the Lakers could have ably moved forward under his close protege, general manager Mitch Kupchak.

But it is West's personality and his legacy as player and executive - with three NBA championships and seven Finals appearances - that helps attract marquee players like O'Neal and Bryant. Both young stars had hinted they might leave after next season if West resigned, and West said his commitment to O'Neal especially weighed heavily on him.

Now the Lakers can again concentrate on reclaiming the franchise's past glory.

``I've always told you I felt he would stay because the Lakers without Jerry is like a hamburger without a bun,'' coach Del Harris said. ``He's been such a central part of our success here for so many years, that was an important thing for the Lakers to maintain that.''

Had West decided to walk away, it would not have been to pursue another NBA job.

``For me to go anywhere else would have been ridiculous,'' West said. ``I don't care what kind of offers they were. I probably couldn't have faced myself when I got up in the morning.''

Buss was reportedly out of town but issued a statement praising West.

``Nobody has meant more to the Los Angeles Lakers franchise than Jerry West,'' Buss said. ``Since 1960 he has brought talent, intelligence, class, dignity - and success - to this team, this city and this organization. Keeping him here will ensure that the Lakers will be one of the best-run franchises in sports well into the 21st century.''

The new deal virtually guarantees West's career will end where it began.

``I would very definitely think this would be my last contract,'' West said, then added with a laugh, ``I'll probably die behind that desk.''

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Photo: (Color) Jerry West says the lockout was a ``godsend'' because it gave him a chance to get away from basketball.

EJ Flynn/Associated Press