Lakers' Austin Reaves Makes NBA History With New Contract
After the Los Angeles Lakers chose to bring in guard Cameron Carr with the No. 24 overall pick in the 2026 NBA Draft, the storied franchise got on to the next order of business very quickly, with the team addressing rising star Austin Reaves' long-term future with the team.
Reaves has a player option on his current contract for the 2026-27 NBA season, which is worth $14.9 million. All signs pointed to the rising star opting out of that final year of his deal to sign a lucrative long-term contract with the Lakers or elsewhere in NBA free agency.
Even though there was a lot of speculation about Reaves' immediate future with some teams around the league ready to send him a hefty offer in free agency, the 28-year-old never showed any indication of wanting to leave the storied franchise.
Austin Reaves Agrees to Four-Year Deal With Lakers
According to Shams Charania of ESPN, Reaves has agreed to a four-year, $185 million deal with the Lakers, with the last year of that contract a player option.
Los Angeles Lakers star Austin Reaves intends to sign a four-year, $185 million maximum contract to return to the franchise, with a player option for the final season in 2029-30, sources tell ESPN. Reaves declined his $14.9M player option for the new max deal. pic.twitter.com/5T8Ze6v0kF
- Shams Charania (@ShamsCharania) June 24, 2026
Reaves was in the running to sign a five-year, $241 million deal with the Lakers, which was rumored to be exactly what he wanted, but he has apparently chosen another route.
Even though Reaves and his representation, Aaron Reilly and Reggie Berry of AMR Agency, went with a four-year deal opposed to a five-year max contract, the talented scorer out of the University of Oklahoma still made NBA history.
Austin Reaves Inks Richest Contract for an Undrafted Player in NBA History
Reaves' new deal is the richest contract for an undrafted player in league history, which is an impressive feat, to say the least.
In 2021, Reaves went undrafted, but by choice, as he wanted to land with the Lakers, feeling it was the best fit for him.
Although he was a relatively unknown player and had to prove his worth alongside some NBA legends like LeBron James, Anthony Davis, Rajon Rondo, Carmelo Anthony, Dwight Howard and Russell Westbrook, he still figured out a way to stand out and eventually become a starter and one of the best players on the squad over the next few years.
Reaves is coming off the best season of his NBA career, as he and the new face of the franchise, Luka Doncic, struck up some on-court chemistry, quickly becoming one of the best backcourt duos in the league.
He averaged career-best numbers in points (23.3), rebounds (4.7) and steals (1.1) per game while shooting a career-high 49 percent from the floor.
Austin Reaves' New Deal Has No Impact on Lakers' Cap Flexibility
With Reaves' long-term future in Los Angeles secured once he officially signs this new deal, the question is, how does this impact the team's cap flexibility?
According to ESPN's Bobby Marks, it will have zero impact on the Lakers' cap flexibility this summer, which is obviously good news.
The Reaves agreement has no impact on the Lakers cap flexibility this summer.
- Bobby Marks (@BobbyMarks42) June 24, 2026
The Lakers projected room takes into account Reaves $20.9M cap hold.
He will sign last after the Lakers exhaust room.
$41.3M in the first year. https://t.co/4JGInWaCNy
Now that the team has taken care of Reaves, the attention turns to LeBron James and whether he'll retire, return to the team or explore his options in NBA free agency. Los Angeles also has to figure out how to fill out the rest of the roster, with several players on the team set to be free agents or having the option to test free agency, along with James, like Rui Hachimura, Luke Kennard, Jaxson Hayes, Marcus Smart (player option) and Deandre Ayton (player option).
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This article was originally published on www.si.com/nba/lakers/onsi as Lakers' Austin Reaves Makes NBA History With New Contract.
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This story was originally published June 24, 2026 at 9:24 AM.