Austin Reaves to Sign Four-Year $185 Million Maximum Contract with Lakers After Declining $14 Million Option

Austin Reaves intends to sign a four-year, $185 million maximum contract with the Los Angeles Lakers that includes a player option for the 2029-30 season. He declined his $14 million player option for the upcoming season and will earn $41.3 million in the first year of the new agreement.

The Lakers and Reaves' agents Aaron Reilly and Reggie Berry of AMR Agency conducted contract discussions over the last 10 days.

Reaves will sign the contract after the Lakers exhaust their remaining salary-cap room. The agreement has no impact on the Lakers' cap flexibility this summer because the team's projected salary space already accounts for Reaves' $20.9 million cap hold. Lakers president of basketball operations and general manager Rob Pelinka stated during exit interviews that re-signing Reaves was a priority.

"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 said. Reaves was expected to receive maximum-level free-agent offers from multiple teams, including the Detroit Pistons.

The 28-year-old guard averaged 23.3 points, 5.5 assists, 4.7 rebounds and 1.1 steals per game last season while shooting 49 percent from the field and 36 percent from three-point range.

He appeared in a career-low 51 games due to calf and oblique injuries and missed the start of the Lakers' first-round playoff series against the Houston Rockets. Reaves averaged 20.0 points and 5.8 assists in six playoff games before the Lakers were eliminated in the second round by the Oklahoma City Thunder.