Austin Reaves has reportedly passed on a four-year, $89.2 million contract extension from the Los Angeles Lakers, according to The Athletic.
The 27-year-old guard is currently in the third year of a four-year, $54 million deal signed as a restricted free agent in July 2023. With a player option next summer, Reaves could test free agency and potentially secure a longer and more lucrative contract.
Coming off a breakout season, Reaves posted career highs in 2024–25 with 20.2 points, 5.8 assists, and 4.5 rebounds per game, starting all 73 games. He also led the Lakers with 200 three-pointers, shooting 37.7% from beyond the arc.
Despite declining the extension, Reaves expressed his desire to stay in Los Angeles. “I want to be in L.A.,” he told CBS Sports. “I love the fans, the weather, the golf—and the Lakers are the best organization in basketball.”
Reaves, who went undrafted in 2021, has become a key player for the franchise, ranking ninth in Lakers history with 493 career three-pointers over 280 games.