Austin Reaves to return to Lakers on largest deal ever for undrafted player

Austin Reaves has reached a four year, $185 million deal to return to the Los Angeles Lakers, per ESPN's Shams Charania. The new contract will make him Luka Doncic's long-term running mate in L.A. 

The 28-year-old guard was set to become a free agent after declining the $14.9 million player option he had for the 2026-27 season, but he reached the deal with the Lakers before the free agency period came into effect.

The contract will be the largest in history for an undrafted player. Reaves originally signed a two-way contract with the Lakers when he came into the league in 2021, earning less than $1 million in that season. 

His new deal will pay him $41.3 million in the 2026-27 season, $44.6 million in 27-28 and $47.9 million in 28-29. The fourth year is a player option for $51.2 million in 2029-30, per Keith Smith. 

Reaves was eligible to sign a 5-year, $241 million contract, but the amount he signed for does represent the maximum he could have been paid over four years, with the option to hit free agency again after three. 

In 2025-26, the Lakers finished with a 53-29 record, falling in the second round of the Playoffs to the Oklahoma City Thunder. 

In the regular season, Reaves was second on the team in minutes and scoring, averaging 23.3 points to go with 4.7 rebounds and 5.5 assists on 49% shooting from the field and 36% from behind the 3-point arc. 

Reaves struggled in the Playoffs after suffering an oblique injury late in the season that caused him to miss his team's first three games of their first round series against the Houston Rockets. 

The Lakers will now look to build around Reaves and Doncic, with notable free agents including LeBron James, Rui Hachimura and Luke Kennard.

Because of the lower value of Reaves' previous contract, the Lakers can open up significant cap space if they push back his official signing, as well as decline to retain James and Hachimura. 

Reporting by Smith indicates that the Lakers will wait until after the free agency period to finalize the deal, leaving them more financial flexibility. 

The deal takes perhaps the best available free agent off the market. Reaves was expected to receive interest from the Detroit Pistons, among other teams, per ESPN.