Last June, Austin Reaves turned down a four-year, $89.2 million contract extension offer from the Los Angeles Lakers. The extension was the most the Lakers could offer Reaves at the time whereas he can sign for significantly more money in 2026.
Two sources from rival teams believe Reaves could make more than $40 million per season on his next contract and is expected to earn at least $35 million per season.
Reaves can become an unrestricted free agent in 2026 if he declines his $14.8 million player option as expected. Reaves is represented by Aaron Reilly.
“Still to this day, I sit there and think about, relative to any life, that is a lot of money – a lot, a lot, a lot of money,” Reaves said of the Lakers’ offer. “It’s way more money than if you would’ve ever had. … If you told me when I was in 10th grade … it’s way more money than I thought was ever possible.”
Reaves wants to remain with the Lakers long-term and communicated that to Rob Pelinka and Jeanie Buss when turning down the extension.
“I expressed that. Like, it was, ‘Y’all gave me an opportunity. Rob, you gave me an opportunity. Jeanie, you’ve treated my family amazing. Everything we’ve wanted, needed since we’ve been here, you’ve taken care of. And we appreciate y’all of that,'” Reaves said. “But we didn’t think that the number was the right number. And that’s not saying that we’re gonna go search for a number that’s out of the world.
“I want to be in L.A. I want to continue to play Virginia Country Club on off days. It’s not like we’re trying to just whack ’em over the head for more money than what I deserve. We just want to get what we feel like I’ve put the work in to get.”