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Los Angeles Lakers sign Reaves to record $185m deal

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Los Angeles guard Austin Reaves has agreed to a four-year, $185 million maximum contract extension with the Lakers, setting a new NBA record for the richest deal ever given to an undrafted player. The agreement, reached on Wednesday, June 24, 2026, includes a player option for the 2029–2030 season. To enable the new contract, the 28-year-old declined his $14.9 million player option for 2026–2027 and entered unrestricted free agency. Negotiations, led by agents Aaron Reilly and Reggie Berry of AMR Agency, intensified in recent days. Reaves’ first-year salary will be $41.3 million, with a temporary $20.9 million cap hold maintained during other offseason moves.

Prepared by Emily Rhodes and reviewed by editorial team.

Timeline of Events

Prior to 2026 season, Reaves holds $14.9m player option
Early June 2026, Reaves considers unrestricted free agency
Mid June 2026, negotiations intensify between AMR and Lakers
June 24 2026, sides reach four-year max agreement
June 24 2026, contract sets undrafted player record
June 24 2026, deal includes 2029–2030 player option
Offseason 2026, Lakers retain $20.9m cap hold
After offseason moves, $41.3m first-year salary activates

Why This Matters to You

This record deal shows the value of undrafted players in the NBA. If you're a sports fan, it's a reminder that talent can come from anywhere. If you have kids in sports, it's a lesson in perseverance. Keep an eye on Reaves' performance in the upcoming season.

The Bottom Line

Austin Reaves' $185 million contract is a game-changer for undrafted players. It's a testament to his talent and the Lakers' faith in him. Worth forwarding if you know someone who loves a good underdog story.