The Los Angeles Lakers have agreed to a record $185 million contract extension with guard Austin Reaves, a move that solidifies a key piece of their offseason rebuild. The four-year deal is worth just over $46 million per year and includes a player option for the 2029-30 season, according to ESPN's Shams Charania.
Reaves, 28, was acquired by the Lakers as an undrafted free agent in 2021. He reportedly declined a $14.9 million player option for the upcoming season to pursue this new maximum-level contract. Several teams, including the Detroit Pistons, were expected to show interest in the shooting guard on the free-agent market, prompting the Lakers to negotiate a substantial deal to retain him.
His agents, Aaron Reilly and Reggie Berry of AMR Agency, finalized negotiations after the period when teams can negotiate with their own free agents opened. Last season, Reaves played in a career-low 51 games due to injury but averaged 23.3 points, 5.5 assists, 4.7 rebounds, and 1.1 steals per game while shooting 49 percent from the field. He returned from injury to contribute 20.0 points and 5.8 assists in six playoff games before the Lakers' second-round elimination.
Lakers president of basketball operations and general manager Rob Pelinka emphasized Reaves' importance to the team. "He started his journey here as a Laker and has made it very clear to us that he wants his journey to continue as a Laker," Pelinka stated. "We want his odyssey to continue to unfold in the Purple and Gold."
The Lakers' offseason priorities also include addressing the future of veteran star LeBron James. James, 41, is an unrestricted free agent after completing a two-year, $101.35 million deal. According to ESPN's Ramona Shelburne, James has not yet fully committed to returning to Los Angeles for his ninth season. While LA can negotiate with James as their free agent, initial conversations have been described as "keeping in touch," with no commitment to his return or salary figures discussed.