When the Los Angeles Lakers signed Austin Reaves to a four-year, $54 million contract, they got him cheap. He outplayed that contract long ago. According to the latest rumors, he no longer wants to be underpaid. The problem is, that he has to wait until next summer to get his bag of money. For the Lakers, his wish to be a free agent might lower the trade value.
Austin Reaves 2026 Free Agency Plans Lower His Trade Value
Reaves’ four-year contract included a player option for the last year. The latest rumors are that he will use that tool to secure one big contract while still in his 20’s. According to Eric Pincus of Bleacher Report:
“Reaves is nearly sure to decline his $14.9 million player option for the 2026-27 season to explore unrestricted free agency next summer, seeking a salary in the $30 million starting range. The most he can extend for ($19.5 million) is far short of that number.”
Austin Reaves is expected to test the free agent market next summer and could be seeking a starting salary of $30 million per year, per @EricPincus
“Reaves is nearly sure to decline his $14.9 million player option for the 2026-27 season to explore unrestricted free agency next… pic.twitter.com/6V0nlOAAq9
— NBACentral (@TheDunkCentral) May 28, 2025
The idea of Austin Reaves opting out of his contract and testing free agency next summer is bad news for the Lakers, as he will lose plenty of his trade value. Reaves was one of their best trade chips, and now he plays on essentially an expiring contract. Teams usually do not want to trade for a player on a one-year contract, unless they are trying to shed money.
Can the Lakers Give Him a Big Contract?
If the Lakers believe Austin Reaves is part of their future and a building block, they can re-sign him or have him opt out and sign him. Looking at their payroll, the Lakers will have under $100 million in committed salary for the 2026-27 season. The summer of 2026 summer is when they will try to quickly rebuild the team around Luka Doncic.
Right now, the Lakers have only six players signed for the 2026-27 season, and two of them, Luka and Austin, have a player option. They also have a team option for rising sophomore Dalton Knecht.
The 2026 Free Agent Class
For years, teams were lining up to have cap space in the summer of 2026. But many of them believed Doncic might become available should he and the Dallas Mavericks fail to win. Now that Luka is with the Lakers, and will possibly extend his contract this summer, he is off the market.
However, the 2026 free agent class remains strong with potential names like Trae Young, Zach LaVine, Kyrie Irving (player option for 2025-26), De’Aaron Fox, Julius Randle (player option for next season), Aaron Gordon, Isaiah Hartenstein, and more.
Teams Will Spend in 2026
Right now, more than 15 teams are projected to have cap space in the summer of 2026. Of course, there is a whole year until then. Things can change; teams can re-sign players and lose cap space. But as of right now, there are eight teams with less than $100 million in committed salary for the 2026-27 season.
The salary cap will rise by 10% each season. Right now, the projected salary cap for 2025-26 is $154 million, and luxury tax is at $187 million. Add in 10%, and the luxury tax will be above $200 million. That is great news for teams that right now need to shed some money. But, it also means teams put themselves in a better position for next summer when there will be plenty of good players on the market.
For Austin Reaves, this means that he can try to secure a long-term, high-paying contract. For comparison, Jordan Poole will make $34 million in 2026-27, Immanuel Quickley will make $32.5 million, Jrue Holiday $34.8 million, Dejounte Murray $33 million, and so on.
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