Austin Reaves has quickly gone from undrafted underdog to one of the most important players on the Los Angeles Lakers. His journey has been filled with self-belief and constant growth, and now he finds himself in the middle of one of the biggest decisions of his career. Speaking at Lakers media day, Reaves reflected on why he turned down a contract extension earlier this summer.
“Super hard. If you had told me even three years ago, that I would have the opportunity to make that money, I would have jumped on it in a heartbeat. Like you said, it’s a business at the end of the day. That doesn’t mean that I don’t wanna be in LA. I wanna be in LA for my whole career. And hopefully we can make that happen.”
Reaves is in the third year of his four-year, $53.8 million deal. He will earn $13.9 million this season, with a $14.9 million player option for 2026 that he is almost certain to decline. By betting on himself, Reaves has set up the chance to hit unrestricted free agency at just the right time.
And the market for him could be massive. According to The Athletic’s Dan Woike, executives across the league believe Reaves could command upwards of $40 million annually in 2026 free agency. His production backs it up. Last season, Reaves averaged 20.2 points, 4.5 rebounds, and 5.8 assists per game on efficient shooting splits of 46.0 percent from the field and 37.7 percent from three.
The Lakers reportedly offered Reaves an $89.2 million extension this summer, but under the NBA’s rules for undrafted players, that was the maximum they could propose. Reaves declined, knowing that his performance could justify a much larger payday in 2026.
That decision has sparked debate. Lakers legend Robert Horry suggested the team should consider a sign-and-trade if Reaves’ price climbs too high, pointing out that his style overlaps with Luka Doncic. Meanwhile, head coach JJ Redick praised Reaves’ offseason work and hinted at an even bigger year ahead.
The Spurs are linked to Reaves, but their backcourt is now loaded with De’Aaron Fox, rookie Dylan Harper, and Stephon Castle, cooling that interest for the time being. Still, Reaves is expected to draw interest from multiple teams if he reaches the open market.
For his part, Reaves has been consistent about where he wants to be. He values the Lakers for giving him his first opportunity and has expressed a desire to spend his entire career in Los Angeles. But with his market value skyrocketing, the Lakers will soon have to decide whether they’re ready to commit superstar money to a player who has gone from undrafted long shot to indispensable starter.
For now, Reaves is locked in on winning with LeBron James and Luka Doncic. But all eyes will be on how this season unfolds because it may shape one of the most surprising nine-figure contracts in NBA history.
