is re-signing with the on a four-year, $185 million contract with a player option in the final season, according to . In terms of average annual salary, this deal is a full max contract for a player with six or fewer years of experience, like Reaves. However, the Lakers could have re-signed Reaves for up to five years, yet the two sides agreed on a slightly shorter contract. This is the biggest contract ever signed by an undrafted free agent in history.
Reaves, due in part to some quirks of the collective bargaining agreement, was enormously underpaid on his previous contract. He became a restricted free agent after the 2022-23 season, which meant that the Lakers could not only match any offer made to Reaves, but that they had a few inherent advantages in re-signing him.
As only a two-year veteran, Reaves was subject to the Gilbert Arenas provision. That prevented any team from offering Reaves more than the Lakers could legally match in the first two years of the deal, which was around $12 million. They could have backloaded the deal up to his max at the time, but the fear that the Lakers would simply match the offer scared away any potential suitors. That allowed the Lakers to re-sign Reaves to a four-year deal worth less than $54 million, which was the most they could pay with his Early Bird Rights. In exchange for taking less than he was worth, the Lakers gave him a player option for the 2026-27 season that facilitates this deal.
Now, finally, Reaves will be paid appropriate market value for his services. Reaves likely would have been a first-time All-Star this season had he not gotten hurt in late December. Despite his injuries, Reaves averaged a career-high 23.3 points per game for the Lakers last season. Luka Dončić, by all accounts, enjoys playing with Reaves and wanted him back. Now the Lakers have their star duo set for the foreseeable future.
