The Los Angeles Lakers’ offseason is off to a rocky start, and it just got even more complicated. According to Dan Woike, Austin Reaves has turned down a four-year, $90 million extension from the Lakers, opting instead to test the free agent market in 2026.
While the decision has raised eyebrows, it seems to be a calculated move by Reaves, who believes he can command an even bigger contract next offseason, potentially reaching $30 million annually.
The Lakers’ reported offer, which equated to roughly $22.5 million per year, is the most they could have offered Reaves under current CBA restrictions for this offseason.
However, by waiting until next summer, Reaves becomes an unrestricted free agent, opening the door for other teams to enter the bidding war with no restrictions. It’s a gamble, but a strategic one.
Reaves is coming off a season where he averaged 20.2 points, 4.5 rebounds, and 5.8 assists, all while playing third fiddle to LeBron James and Luka Doncic. While he struggled with injuries late in the season and underwhelmed in the playoffs, there’s no denying his talent or offensive upside. But is he worth $30 million per year?
That question is now being asked inside Lakers headquarters and across the league.
Meanwhile, another veteran rotation piece might be on the way out as well. According to ESPN, Dorian Finney-Smith is strongly considering declining his $15.4 million player option for the 2025–26 season and entering free agency.
The 32-year-old forward has until June 29 to make a final decision, and it appears that interest from contending teams could lure him away.
Finney-Smith only averaged 7.9 points, 3.6 rebounds, and 1.4 assists in a limited offensive role for the Lakers, but his true value lies beyond the box score. He remains one of the league’s premier 3-and-D wings, capable of defending multiple positions and hitting open threes at a respectable clip.
His chemistry with Luka Doncic, built during their years together in Dallas, has been a crucial stabilizing factor for the new-look Lakers.
Losing Finney-Smith would be a significant blow, especially since L.A. lacks depth at the wing and is already scrambling to address holes at center. Finney-Smith’s potential departure could become a real concern for the Lakers’ front office, who are already rumored to be exploring trade options for players like Andrew Wiggins.
If both Reaves and Finney-Smith walk for nothing, it could drastically reshape the Lakers’ trajectory and raise uncomfortable questions about the team’s ability to build around Luka in the post-LeBron era.
Finney-Smith’s departure could even impact Luka Doncic’s long-term extension decision, considering how much the two have gelled both on and off the court.
In the middle of all this player movement and uncertainty, the Lakers quietly executed their first trade of the offseason, a move that’s flown under the radar but could be a preview of bigger deals to come.
Per ESPN’s Shams Charania, L.A. acquired the No. 45 pick from the Chicago Bulls in exchange for the No. 55 pick and cash considerations. While minor on the surface, the trade signals that the Lakers are targeting specific young talent in the second round, particularly at center and the wing.
Names like Vladislav Goldin and Rocco Zikarsky have been linked to the Lakers, both of whom are athletic big men with real upside. With the franchise short on size and veteran frontcourt depth, adding a young project center could be a low-risk move with long-term payoff.
Still, the looming losses of Reaves and Finney-Smith cast a shadow over everything. If the Lakers can’t re-sign either, and fail to swing a blockbuster trade, perhaps for someone like Andrew Wiggins or even a bigger name, they risk entering the 2025–26 season with Luka and LeBron surrounded by role players and unanswered questions.
One thing is certain: the Lakers’ offseason has started with fireworks, and this may just be the beginning.
