The Los Angeles Lakers have declined the $2.5 million team option for guard Nick Smith Jr. for the 2026-27 season, a move that will make him an unrestricted free agent. This decision is set to provide the Lakers with over $50 million in salary cap space as they approach the start of NBA free agency on Tuesday.
Free agency is scheduled to begin at 3 p.m. on Tuesday. Smith had signed a two-way contract with the Lakers on September 29, following his earlier waiver by the Charlotte Hornets in September 2025. He spent two seasons with the Hornets.
During his time with the Lakers, Smith appeared in 30 regular-season games, averaging 6.2 points and shooting 39.5% from three-point range. He was converted from a two-way contract to a standard NBA contract in April, just ahead of the playoffs. Smith was originally selected as the No. 27 overall pick in the 2023 NBA Draft.