Austin Reaves has Lakers stuck between a dream and a nightmare

The Los Angeles Lakers have spent the past five seasons benefiting immeasurably from gambling on Austin Reaves and paying him ahead of schedule. He began his career as an undrafted free agent, signed a four-year, $53.8 million deal that's proved to be a bargain, and has inched closer to stardom on a team-frendly deal.

Early in 2025-26, however, Reaves is proving that the Lakers are now officially stuck in the middle of a dream and a nightmare with a new lucrative contract loudly looming.

Reaves has a $14,898,786 player option for the 2025-26 season, but most expect him to decline it in favor of entering unrestricted free agency next summer. All signs point to the 27-year-old commanding an annual salary that more than doubles what he'd make by accepting his player option.

Reaves' case for a massive new contract grew infinitely stronger on Sunday, Oct. 26 when he went off to the tune of 51 points, 11 rebounds, nine assists, and two steals in a win over the Sacramento Kings.

Clearly, the Lakers have every reason for optimism after watching Reaves dominate in a way that few are capable of. The harsh reality that his team-friendly salary will enter All-Star territory as soon as next season, however, has put the front office in a difficult spot.

Reaves has undoubtedly played above the level his current contract demands, but the question is as simple as it is complex: Can Reaves and the Lakers live up to the pressure a higher salary presents?

Austin Reaves playing way into huge new deal—divisive news for Lakers

Reaves increased his averages in points, rebounds, assists, steals, and three-point field goals made across every season between 2021-22 and 2024-25. That alone offers reason to believe he'll be well worth the investment Los Angeles seems destined to make in him in 2026.

There's more to signing a player to a contract worth well more than $30 million per season than simply rewarding their growth, however, when it comes to constructing a championship-caliber team.

Los Angeles has benefited immensely from having a player of Reaves' quality on such a team-friendly annual salary. It's helped the team overcome several investments that proved less fruitful, including the $10.5 million Gabe Vincent played 11 games for in 2023-24 and the $10,714,286 Jarred Vanderbilt secured for 36 appearances in 2024-25.

Once Reaves is making upward of $30 million per season—and if he keeps playing as well as he is, potentially more than $40 million a year—that flexibility will be difficult to find again.

Los Angeles deserves endless credit for signing Reaves as an undrafted free agent and not only paying him in advance, but developing him into a star-caliber talent. The reason his success story is so profound, however, is how rare it is for a player to travel the path he has.

The Lakers have made a habit out of finding talent in unlikely places, and Jake LaRavia may be the next in line, but even he will be a free agent as soon as 2027.

Perhaps it will all work out in the end, with Luka Doncic and Reaves proving to be franchise cornerstones capable of leading the Lakers to immeasurable success. With questionable long-term depth already a factor, however, handing out a new contract inching closer to max-level territory is a challenge they may not be ready for.

Reaves is making it easier than ever to justify paying him in a way that reflects how stars are typically treated, but the Lakers are in for a new and difficult task of supplementing two players who are paid top dollar once their most cost-efficient player can no longer qualify as such.