Lakers’ Austin Reaves Turns Down $89.2 Million Extension Offer
Austin Reaves has declined the Lakers’ four-year, $89.2 million extension offer, according to The Athletic’s Dan Woike.
But don’t panic, Lakers fans.
The decision doesn’t signal any trouble between Reaves and the team. It’s simply about money and timing.
Woike noted there were “limitations placed on the amount the Lakers were allowed to offer this week,” meaning Reaves can likely secure a much bigger payday by waiting.
The 27-year-old guard is entering the third season of his current four-year, $53.8 million deal signed in July 2023. That contract includes a $14.9 million player option for the 2026-27 season.
By turning down the extension now, Reaves can become an unrestricted free agent next summer, when he’s expected to “command significantly more” than what the Lakers could offer right now.
The math makes sense. A new deal starting at $30 million would give him a higher annual salary than the extension he just declined.
“I want to be in LA. I want to play my whole career in LA,” Reaves told K8 News at his youth basketball camp in Arkansas earlier this month. “And I love it there. I love the fans. Love the weather, love the golf. And obviously the Lakers are the best organization in basketball.”
Pretty strong words from a guy who went undrafted in 2021.
Reaves has blossomed into a key player for the Lakers, averaging career highs across the board last season: 20.2 points, 4.5 rebounds, 5.8 assists, and 1.1 steals in 73 starts.
He even exploded for a career-high 45 points against the Pacers in February, shooting an impressive 53.8% from the field.
The Lakers have other contract situations to manage as well.
LeBron James, who turns 41 in December, has a $52.6 million player option as part of the two-year, $101.35 million deal he signed last July. He can enter free agency again if he chooses.
Both James and Dorian Finney-Smith have until June 29 to decide whether to opt in for next season. Finney-Smith’s option is worth $15.37 million and includes a 5% trade bonus.
If James opts in or signs a comparable new deal, the Lakers will be at least $1.3 million over the luxury tax, according to ESPN’s Bobby Marks.
Meanwhile, Luka Doncic isn’t a free agent but can sign up to a four-year, $229 million extension starting August 2. Without a new contract, he’ll become a free agent in summer 2026.
For now, the Lakers seem focused on finding the right deals rather than rushing into anything – a strategy that could pay off in the long run.
