Austin Reaves is expected to decline his $14.9 million player option with the Los Angeles Lakers for the 2026-27 season and enter unrestricted free agency this summer, according to Dan Woike and Sam Amick of The Athletic. The decision would make Reaves one of the most coveted free agents on the market – and set up a pivotal negotiation between the Lakers and a player who has become central to their identity.
Why opting out makes sense
The math is straightforward. Reaves has averaged more than 20 points and five assists per game on .600 true shooting in each of the last two seasons – one of only four players in the NBA to hit those marks in both campaigns, alongside MVPs Shai Gilgeous-Alexander, Nikola Jokić and Giannis Antetokounmpo. A $14.9 million option barely clears 9% of next season’s projected $165 million salary cap. Accepting it would be leaving a staggering amount of money on the table.
External suitors could offer Reaves a four-year deal with 5% annual raises, maxing out at four years and $177.4 million. As the holder of Reaves’ Bird rights, Los Angeles can go further: a five-year offer with 8% raises that could reach $239.3 million through the 2030-31 season, per The Athletic.
The Lakers’ calculus
Keeping Reaves is not optional in any practical sense – it’s a franchise priority. He provides the shooting, playmaking and winning culture that fills a role almost no one else in basketball can replicate at this price tier. The question isn’t whether the Lakers will match outside offers. It’s whether they can complete a long-term extension before Reaves tests the full market on July 1.
The Lakers are eliminated from the 2026 playoffs, swept by the Oklahoma City Thunder in the second round, which means this offseason carries added urgency as the franchise looks to reset around LeBron James, Anthony Davis and a core it hopes to keep intact.
