Reaves’ resounding ‘No’ to the Lakers

The Lakers are now facing the problem they knew would come with Austin Reaves. The shooting guard has formally rejected the Lakers’ offer to extend his contract: four years and $89.2 million. In today’s NBA—especially with the new spike in income from incoming TV deals—it was obvious Reaves wouldn’t accept that amount.

The situation was bound to get complicated anyway, since the collective bargaining agreement prevented the Lakers from offering more; that figure was the maximum allowed. So Reaves will stay on the two remaining years of his contract—$13.9 million next season and a $13.8 million player option for 2026–27… which he’s expected to decline to become an unrestricted free agent.

Practically speaking, Reaves is now a player in the final year of his deal who won’t sign an extension with his current team.

This was always the expected outcome for Reaves and the Lakers. The guard (27 years old, undrafted in 2021) played at a high level in his fourth season with the franchise: over 20 points and nearly 6 assists per game (close to 38% from three, with 2.7 made per game).

He alternated between playing off the ball and acting as a true point guard, especially between D’Angelo Russell’s departure and Luka Dončić’s arrival. He also seemed to mesh well with the Slovenian—who’s yet to sign his own extension—and with LeBron James, whose future remains uncertain, though signs point to him continuing with the Lakers. In the last 17 regular season games, Reaves averaged nearly 25 points and shot 42.4% from three.

In the 13 games the trio (LeBron, Dončić, Reaves) played together before the playoffs, with Rui Hachimura also in the starting five, the team went 10–3, including wins on the road against both finalists: the Indiana Pacers and eventual champions OKC Thunder. But in the playoffs, things fell apart for Reaves (and the Lakers): 16.2 points, 3.6 assists, 2.8 turnovers, 41% from the field, and 32% from three.

He was likely hampered by a nasty toe injury that wasn’t revealed until the team was eliminated. Still, the Timberwolves’ physicality also seemed to overwhelm him during a disastrous first-round exit.

Reaves still has two years left on the extension he signed in the summer of 2023 (four years, $53.8 million). Given his development and the growth of the salary cap, it’s one of the league’s best value contracts.

The Lakers wanted him to sign an extension now, but under the salary rules of the CBA, the most they could offer was four years and $89 million—just over $22 million per year, well below what he could earn on the open market.

The team would’ve loved to lock him in at that manageable figure—especially with the excuse that they were legally barred from offering more this summer. But that also makes it logical for Reaves to reject the offer, wait for summer 2026, skip his player option, and hit the market as a free agent.

The new CBA increased the maximum allowed in extensions from 120% to 140% of either the player’s last salary or the league average—whichever is higher—to benefit the player.

But even that still falls short of what Reaves could realistically earn on the open market, due to the terms of his 2023 deal.Next summer,

Reaves could receive a massive offer from another team—unless the Lakers are willing to pay him star-level money to keep him.If he skips the player option, the most he could make is five years and $246.7 million with the Lakers, or four years and $182.9 million elsewhere.

While that kind of payday seems unlikely (for now),it’s not unrealistic to expect his next deal to average around $30 million per year—well above the $89.2 million over four years the Lakers are currently capped at.

The franchise has made it clear they value him, both on the court and in the locker room. But there’s still uncertainty over whether he and Dončić can form a backcourt that won’t be exposed defensively in the playoffs—a serious concern if Reaves jumps into a much higher salary bracket.

Since he’s expected to hit the market in 2026, trade talks have surfaced. However, the Lakers don’t appear eager to explore that route unless forced or unless a top-tier opportunity presents itself.

Rob Pelinka, the team’s head executive, was clear back in May: “It’s ideal to build your team around three guys like that—with that character and competitive spirit. LeBron is unselfish and just wants to win. Luka is the same, and so is Austin.

If you start training camp with those three pillars and build your identity from there, that’s an amazing foundation. It’s something we didn’t have last season, but we will this time.

”Reaves, too, has always said he wants to stay. This decision is just a logical move under the market’s rules.“I want to stay in L.A. I want to play my entire career there—I love it.

The weather, the golf... and the Lakers are the best team in the world,” he said from his youth camp in Arkansas. In any case, it remains to be seen what shape the 2025–26 Lakers will take.

The team faces many unknowns and the pressure of building a title contender amid an ongoing ownership sale.Barring surprises, Luka Dončić is expected to sign his extension—but how and for how much remains to be seen.

LeBron James is likely to return and stay with the Lakers, but even that hasn’t been finalized.Dorian Finney-Smith could decline his player option and become another issue for a team in dire need of reliable frontcourt and wing defenders.

With no cap space, the Lakers’ only path forward is through the trade market—where their options are limited: Dalton Knecht (entering his second year), their 2031 first-rounder, a few potential pick swaps, and several tradeable contracts: Hachimura, Gabe Vincent, Maxi Kleber…

An interesting night at the draft

What the Lakers did do was make moves on the second night of the draft (they had no first-round picks).

They managed to trade up—from pick 55 to pick 36—through two separate deals with the Bulls and Timberwolves, using cash considerations. That move, however, locked them in below the second apron of the salary cap ($207.8 million), which they didn’t plan on crossing anyway.

Initially, the Lakers were targeting a physical, high-upside big man—a clear need. But they pivoted to Adou Thiero (Arkansas) when they saw he’d be available at pick 36.

Thiero (21, 2.03m) isn’t a center but a forward with elite athletic tools. He averaged 15.1 points and 5.8 rebounds for the Razorbacks, shooting 54.5% from the field, under coach John Calipari. He had also played two seasons under Calipari at Kentucky. His main weakness is his outside shooting, a key question mark that offsets his outstanding energy and defensive versatility—he can guard virtually any position. His ability to run the floor and finish above the rim fits perfectly with what the Lakers need around Luka Dončić. Some analysts believe he could become a player in the mold of Derrick Jones Jr. or even Jaden McDaniels—both highly valued for their defensive versatility in today’s NBA. But it all depends on whether he can become even minimally reliable on offense.

Thiero shot up from under 6’3” to over 6’8” in high school, transitioning from shooting guard to power forward. His coach, Mike Mastroianni, said Kentucky was getting a player capable of defending all five positions and who could become a solid shooter once he overcame an unusual issue: the rapid growth of his hands.

“His growth spurt made it hard for him to grip and adjust to the ball. But he’ll shoot again—he was a great shooter his sophomore year of high school. He’d hit eight or nine threes in a game.”

For now, his value lies in his defense, rebounding energy, transition play, and alley-oop finishes. He’s a second-round pick, so expectations should be reasonable—but many experts believe the Lakers made an excellent pick and landed a player who could outperform his draft slot.

Undrafted signings and training camp contracts

The Lakers also moved in the undrafted free agent market and signed Eric Dixon (Villanova) to a two-way contract. Dixon averaged 23.3 points last season, shooting 41% from three—one of the top scorers in college basketball—and will look to carve out a role in L.A.’s rotation.

They also signed Arthur Kaluma (Texas), a defense-first forward, to an Exhibit 10 contract (a one-year non-guaranteed deal allowing him to attend training camp or move to the G League). The same type of deal went to Augustas Marčiulionis, son of the legendary Šarūnas Marčiulionis, a point guard from Saint Mary’s who will also try to earn a spot with the Lakers. Another Exhibit 10 went to RJ Davis, a scoring guard from North Carolina.

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