The Lakeshow Review

Name a better duo. 

Ok. Ok. But seeing that Austin Reaves has formally declined the Lakers’ 3 year/$89.2M extension, it’s time to ask some questions. The sharpshooting Reaves will patiently bet on himself, as he will hold out for a larger pay raise after the 2026 season when he can opt out of the final year of his current deal. This presents various risk scenarios for both the Lakers and AR. But mostly for the Lakers. AR is someone that the team drafted, developed and is now thriving as one of the core pieces in the current roster. Reaves went undrafted in the 2021 NBA Draft, promptly inking a two-way contract with the Lakers as an undrafted free agent. He then proceeded to work his way up the ranks in LAs rotation, eventually establishing himself as a key contributor. In 2023, Reaves earned a 4 year/$54M extension. He’ll be entering the third year of said extension, after which he can opt out and forego its final season. AR’s story is one of grit and perseverance. An endearing Hollywood Tale. It’s what has made him a fan favorite with many a Lakers faithful (myself included). But the reality of his contract stipulations raises serious questions about his future with the team. The Lakers must ask themselves what they want to do with Reaves moving forward, and what the best course of action is for the team’s future outlook. There’s no easy answer, and good arguments can be made for both outcomes (keeping AR vs. trading him). Perhaps the first big test for the incoming ownership group, led by businessman Mark Walter, will be their handling of the Austin Reaves situation.

Reaves declining LAs extension and potentially opting out next season puts the team in somewhat of a predicament. The obvious worst-case scenario being AR walking away after 2026 with nothing in return for the Lakers. In my opinion, Austin has earned the right to dictate the terms of his future, and I think it’s smart, if somewhat risky, for him to hold out for every possible penny that he can get. He’s been a very productive player thus far, and his rise to stardom has been quite admirable. By all accounts, he’s a hard working kid with a good head on his shoulders, and has definitely earned his stripes in the NBA. With that said, the Lakers need to protect themselves from said worst-case scenario by shopping Austin Reaves, and at least getting a sense of what his trade market holds in store. If any deals arise where the Lakers can get another foundational young piece in exchange for Austin, then that’s something you jump on. For instance, if Reaves can get you a Herb Jones from the Pelicans in return, then that’s something to seriously consider. Jones is another young up-and-comer who is one of the better perimeter defenders in the game. His offensive skillset is not quite at the level of Austin’s, but a defense-for-offense swap isn’t the worst idea, especially on a Luka Dončić-centric roster. To me, that’s the type of equal value you look for in a Reaves trade; another young player with high upside that can be an on-court fit and projects as a longterm solution to a current team need. As ARs agent Aaron Reilly proclaimed on Twitter a few days ago, you don’t trade Austin for a backup center (a Nic Claxton or Daniel Gafford type) in pursuit of a short-sighted win-now fantasy. 

The reality of the situation is that given their current cap sheet, it’s very difficult for the Lakers to immediately vault themselves into the championship picture. In particular, LeBron James’ $50M salary next season greatly inhibits the team from significantly improving in areas of needs. Which creates a bit of a fine line that ought to be navigated delicately. Yes, AR is decidedly LAs best and most attractive trade chip. But, the Lakers should not ship him out in order to appease some vacuous win-now mandate for LeBron’s ”legacy”. LeBron will presumably be entering the final year of his contract, meaning that if the Lakers let him expire, they can use the flexibility to add the necessary pieces then. As I’ve stated before, the Lakers are no longer on LeBron’s timeline. The Lakers are now on their own timeline. They have a new owner with deep pockets, a top star in Luka, a solid young supporting star in AR, and an aging, in-the-twilight-of-his-career LeBron James. Attempting to appease LeBron’s timeline at this point would be a mistake. Now if AR can be swapped for another young piece who is of equal stature, then that’s something to act on. As that benefits both the Lakers and Luka moving forward. If it’s a move that marginally upgrades the roster at another position (say for a big), aiming to “maximize” LeBron’s proverbial window, then that’s a no-go. The Lakers need to aggressively strategize for the future. They will need every asset and resource at their disposal to properly build around Luka, once LeBron James decides to pack his bags and retire or finish out his career elsewhere. 

Personally, I’m not of the opinion that ARs value will have diminished after he receives an extension. He has been the type of player that makes marked improvements each season. If he winds up taking yet another leap in 2026, who’s to day he isn’t worth say $30M. AR at $30M is still a heck of an asset. But there’s still some risk that comes with such scenarios. Maybe AR performs at a level where he warrants a $40M contract from some team. At this point the Lakers would need to ask themselves a serious question; is AR worth $40M on a team with Luka Dončić who is also primed for a substantial extension? Furthermore, is AR at $40M per season good enough to be Luka’s no. 2 on a team with championship aspirations? These are all legitimate quandaries. But I think that the best course of action for the Lakers is one of patience and diligence. The standoff between AR and the new ownership will be interesting to watch. And will certainly pose its share of risks. With that said, LA shouldn’t panic and should view this situation as an opportunity. 

LA should certainly has to perform its due diligence and at least explore the trade market in order to see what type of feedback they receive regarding ARs trade value. Maybe there’s a deal to be had where the Lakers can get another young piece in return who strengthens their long term outlook. LA certainly has glaring needs, and you have to give in order to get. If you can net another young player to build with Dončić, then great. But, he shouldn’t be dangled carelessly in trade talks to the point where it sours the player/brass relationship, or worse yet, inserted in a trade that makes the team worse with an underwhelming return. At worse, you let AR play out the season, and if he keeps balling then you pay him a reasonable amount; one which he will have earned. Maybe he becomes a legitimate mainstay alongside Luka, and post-LeBron, at which point the Lakers will have the flexibility to add pieces around the Luka/Reaves tandem. Or if not then you trade him sometime after he’s signed his extension. If Desmond Bane can net 4 first rounders at a $34M salary, then I’m not entirely sure Reaves wouldn’t have almost identical value on the trade market with his new deal. Either way, the approach with AR should be one of patience. He is a Laker, and is a great player. He’ll continue to help the team win. Of course, you always cover your bases and explore the market. But worse case scenario, you let him play out his season and give him the opportunity to earn his desired figure. Resign him next summer with a clean cap sheet and figure out the next move later. And that’s not a terrible place to be. Go Lakers.