Los Angeles Lakers guard Austin Reaves reportedly declined an extension offer.
According to The Athletic’s Dan Woike, Reaves declined the four-year, $89.2 million max offer that he is eligible to sign this summer. Woike noted “limitations placed on the amount the Lakers were allowed to offer this week.”
This means the decision “wasn’t a reflection of Reaves and the Lakers’ relationship,” according to Woike. Los Angeles is more focused on finding the right deal rather than simply making a deal.
Austin Reaves Can Opt Out Of Current Deal
Reaves is entering the third season of his four-year, $53.8 million contract signed in July 2023. He has a $14.9 million player option for the 2026-27 season in that deal.
He can opt out of that deal and become an unrestricted free agent next summer, when he’s expected to “command significantly more than the most lucrative extension the Lakers were allowed to offer this summer,” per Woike.
Reaves would still earn more in average annual salary with a deal that starts at $30 million than if he signed the four-year, $89.2 million contract. It would give the Lakers more flexibility to build around Luka Doncic as well.
Reaves Wants To Remain With Lakers
At his youth basketball camp in Arkansas earlier this month, Reaves told a local television station he hoped to remain with the purple and gold throughout his career.
“I want to be in LA. I want to play my whole career in LA. And I love it there. I love the fans. Love the weather, love the golf,” Reaves told K8 News. “And obviously the Lakers are the best organization in basketball.”
An undrafted free agent in 2021, Reaves averaged career highs of 20.2 points, 4.5 rebounds, 5.8 assists, 1.1 steals, and 34.9 minutes per contest in 73 games (all starts) this past season.
In Los Angeles’ 124-117 win over the Indiana Pacers on Feb. 8, the 27-year-old scored a career-high 45 points on 14-of-26 (53.8%) shooting from the field and 4-of-9 (44.4%) from 3-point range.
LeBron James, Luka Doncic Could Sign New Deals
LeBron James, who turns 41 in December, has a $52.6 million player option and again can enter free agency. This is part of the two-year, $101.35 million deal that he signed last July.
Both Dorian Finney-Smith and James have until June 29 to opt in for next season. Finney-Smith’s option is worth $15.37 million, and his deal includes a 5% trade bonus.
If James opts in or signs a new contract with a comparable starting salary this summer, the Lakers will be at least $1.3 million over the luxury tax, per ESPN’s Bobby Marks.
Doncic, meanwhile, is not a free agent but is eligible to sign up to a four-year, $229 million extension on Aug. 2. If a new contract is not reached, he will become a free agent in the summer of 2026.
