The Los Angeles Lakers have operated with the unbelievable advantage that has been Austin Reaves and his team-friendly contract for several seasons now. That bargain is coming to an end in the summer of 2026, and there should be no doubt that Reaves will get absolutely paid.
The Lakers guard is in the third year of his four-year, $53.8 million extension, set to earn $13.9 million in the upcoming 2025-26 season. There will be absolutely no reason for Reaves to offer the grace of picking up his $14.9 million player option for the following 2026-27 campaign.
With the talented offensive star largely outplaying the dollar value of his current deal, a chance to secure the bag in the middle of his prime would be more than worth taking. It is why the extension offered by the Lakers from his current salary was rapidly turned down.
Reaves reportedly declined a four-year, $89.2 million extension from the Lakers. It makes sense. Why accept an annual salary around $22.3 million when the prospects of free agency should set you up for so much more?
Austin Reaves will no longer be the bargain Lakers have thrived off
Having a star whose player quality far exceeds his dollar amount is a monstrous advantage in team building, especially with the current CBA. A great example of this being irrefutably true was the Golden State Warriors having the luxury of an underpaid Stephen Curry in the 2010s.
That allowed the Warriors to secure Kevin Durant to completely upset the balance of the NBA. Meanwhile, Curry was making a more than modest figure of $11 million per year on the rookie extension.
Once the time came, the Warriors did open up their wallet. They threw a five-year, $201.2 million extension at their franchise star.
No one is saying Reaves is at the level of Curry. However, the 27-year-old will similarly be in line to secure a contract that is more fitting to the player he is at this point of his career. The Lakers cannot afford to let him simply walk for nothing.
When it comes down to it, the Lakers will pony up. This was something even Lakers insider Jovan Buha strongly believed, discussing the subject on a recent episode of his podcast.
"Austin Reaves is in that class of low to mid 30s," Buha said of the annual contract figure. "When you get into the $40 million, it's a little bit of a different tier of player. ... If he takes another step next season, ... then I think we're talking in the mid to high 30s."
That is more than a reasonable expectation for Reaves' next deal, especially when running down the list of the other players receiving that type of salary, like Buha did. There should be no doubt that Reaves will be a much richer man when 2026 rolls around, putting to rest the Lakers' bargain.