Austin Reaves’ time on his current deal with the Los Angeles Lakers is winding down, and league expectations are that his next contract will be worth far more than what he’s earning now.
The 27-year-old guard is set to play the final guaranteed season of the four-year, $53.8 million contract he signed in 2023. He holds a player option for the 2026–27 season worth $14.9 million, but multiple team executives and reporters believe he will decline it in favor of entering unrestricted free agency.
Austin Reaves’ Market Value Projected at $30–35 Million Per Year
Reaves’ value has climbed sharply after averaging 20.2 points and 5.8 assists last season while shooting 46.0% from the field and 37.7% from 3-point range. His production has positioned him alongside, or even ahead of, comparable guards such as Tyler Herro and Immanuel Quickley — both of whom are in the $30 million annual salary range.
“I think he’s more like a $30 to $35 million per year player,” Lakers reporter Jovan Buha said. “If you look at some of the guys in that range, I think Austin is easily in that class, and better than a lot of the guys in the $30 to $32 million range.”
Buha added that Reaves’ preference is clear: “He wants to be a Laker for life.”
Los Angeles Lakers Expected to Prioritize Long-Term Deal
That desire is mutual. The Lakers are expected to prioritize re-signing Reaves once he becomes eligible for a more lucrative contract in free agency.
Under current collective bargaining agreement rules, Los Angeles cannot offer him his full projected market value until after he opts out of the final year of his contract. At that point, a four-year deal exceeding $120 million is possible, depending on the salary cap.
Reaves already passed on the largest extension the Lakers could offer this summer — four years, $89.2 million — knowing that free agency offers a bigger payday. If current projections hold, he will be one of the most sought-after names on the 2026 market, but the odds favor him remaining in Los Angeles on a long-term deal.
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