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 told ESPN’s Shams Charania.
Reaves declined his $14.9 million player option to pave the way for this new max deal, which is the richest contract in NBA history for an undrafted player.
The Lakers and Reaves’ agents, Aaron Reilly and Reggie Berry of AMR Agency, worked through discussions over the last 10 days after teams were able to negotiate with their own free agents. Shortly after the NBA Finals, sources told Charania, reps from Lakers ownership and their front office met with Reaves and his agents at the team’s practice facility, where they had several personal touches for the guard, including personalized “AR”-initialed pillows and his favorite country music.
Reaves was on the golf course when the agreement between his representatives and the Lakers was reached Wednesday, with his longtime girlfriend capturing a photo of him laying on the grass in celebration and posting it to her Instagram.
“Great relief,” a source close to Reaves described to ESPN as his emotions in the moment.
“He wants to be a Laker for life and there’s nothing more important to him than trying to win one for that city.”
The Reaves agreement has no impact on the Lakers’ cap flexibility this summer as the team’s projected salary space takes into account Reaves’ $20.9 million cap hold. He will sign last, after the Lakers exhaust room, and will make $41.3 million in the first year.
Reaves was expected to receive free agent interest from multiple teams, including the Detroit Pistons, on a maximum-level salary, so the Lakers stepped up on Wednesday to lock in their homegrown talent.
Lakers president of basketball operations and general manager Rob Pelinka made it clear during the team’s exit interviews that Reaves’ return 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. “We want his odyssey to continue to unfold in the Purple and Gold.”
Reaves averaged 23.3 points on 49% shooting (36% from 3), with 5.5 assists, 4.7 rebounds and 1.1 steals last season, but he appeared in a career-low 51 games after being sidelined with calf and oblique injuries, the latter of which caused him to miss the start of L.A.’s first-round series against the Houston Rockets. The 28-year-old guard rehabbed around the clock to return in the playoffs, where he averaged 20.0 points and 5.8 assists in six games before the Lakers were eliminated in the second round by the Oklahoma City Thunder.
ESPN’s Dave McMenamin and Bobby Marks contributed to this report.
