The Lakers did not fail to act at the trade deadline. They chose not to. That distinction now explains why Austin Reaves may be approaching the most complicated decision of his career.

Los Angeles stayed quiet when Giannis Antetokounmpo rumors surfaced around February 5, making only a minor deal while larger contenders explored moves. Soon after, ESPN insider Ramona Shelburne revealed on NBA Today that the front office has been operating on a long-term financial roadmap, one that stretches beyond the next season and toward the summer of 2027.

“I think they’ve been trying to make a splash.” Shelburne explained the strategy was already used once. During last summer’s meeting with Luka Doncic, the organization openly presented its cap timeline, admitting flexibility would not exist until 2026 and could expand significantly in 2027.

That timeline overlaps with Antetokounmpo’s potential free agency. Because of that, every contract decision now carries consequences, including Reaves’.

Reaves declined a four-year, $89.2 million extension last offseason. The move positioned him for a five-year, $241 million max contract in the near future. Normally that would be simple. It no longer is.

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A max for Reaves would start roughly between $41 and $42 million annually. At the same time, Antetokounmpo’s projected four-year, $275 million supermax would land near $60 to $70 million per season. Pairing those deals alongside Luka Doncic’s $49.8 million salary in 2026-27 would push the Lakers deep into the tax apron. As a result, roster building flexibility would shrink, trades would tighten, and penalties would escalate under the CBA.

The front office therefore faces a choice. Pay Reaves immediately, or preserve a realistic path to Giannis. That is the cruel reality. His performance earned a max. The team’s larger plan complicates giving it.

The Lakers’ patience is not accidental. Their books show why. Potential outgoing money reaches roughly $128.1 million in 2026-27 and $47.6 million in 2027-28 if free agents walk. However, Doncic remains owed $49.8 million and then $53.7 million, while Jarred Vanderbilt carries about $12.4 million followed by $13.2 million. Dalton Knecht, Bronny James, Adou Thiero and others stay on smaller deals.

That structure creates a specific window. “The summer of 27 is when Giannis could actually be a free agent. So you could try to trade for him this summer, or you could wait and see if he actually gets to free agency in 27, which is really hard to do these days in the NBA.”

Because of that, Los Angeles can chase Antetokounmpo in 2026 through trade or gamble on open cap space in 2027. Either path requires financial discipline beforehand.

Reaves’ extension becomes the first domino.

The Lakers’ LeBron James plan amidst Austin Reaves’ dilemma

LeBron James adds another layer of uncertainty. He is playing on a $52.6 million expiring contract and becomes a free agent after the 2025-26 season. His future remains unclear. Still, the organization appears prepared for either outcome. “If James wants to play a 24th season, he would be welcomed back in L.A.”

A return would likely approach a $59.5 million salary. However, even that decision ties into the same timeline. The team must balance honoring a franchise icon with maintaining flexibility for a possible superstar addition.

Meanwhile, Luka Doncic reportedly supported the quiet deadline approach and has not pushed management to rush another star acquisition. That patience effectively buys the front office time to prepare for 2026 or 2027.

The lack of movement was not hesitation. It was preparation. If the Lakers pursue Antetokounmpo via trade in 2026, fewer teams may compete. Waiting for 2027 free agency could create a crowded market including cap-space teams such as Miami.

Because of that, every contract signed before then shapes the odds. Reaves now sits at the center of the equation. The franchise can extend him and accept roster limitations, or delay and preserve its Giannis pathway. The team’s strategy created opportunity. For Reaves, it created uncertainty.