Over the years, we’ve witnessed bigger NBA stars often taking contractual risks, hoping to earn a heavier bag of money. And when that works, there’s obviously no problem. But when Austin Reaves declined a four-year, $89 million extension from the Lakers last year, it surprised fans. Many felt weirded out because, after everything LA did for their undrafted player, Reaves did this. His response to all that speculation in 2025, though, was calmly straightforward.

“I want to be in LA,” Reaves said nearly a year ago. “Obviously, the Lakers are the best organization in basketball. I don’t pay attention to [the noise]. I keep my head down, work, and I feel like that’s one of the reasons I’m where I’m at.” And he did keep his head down and focus on his game for the season to follow. It is evident in his career-high averages of 23.3 points, 5.5 assists, and 4.7 rebounds. He also shot a decent 36 percent from three-point range. Now, Reaves has a player option worth $14.9 million for 2026-27, but he recently alluded to already having made that decision.

TMZ Sports ran into the Lakers star on Thursday, and the answer to his future came without hesitation. Reaves was asked whether he wanted to “run it back” in LA alongside LeBron James. Reaves quickly responded, “Run it back.” Now, when the man with the camera probed further into who the team should go after, the 27-year-old said, “I don’t know. I don’t get into all that. I’ve got to sign first,” obviously suggesting he’d be declining his player option.

The last five words here hold utmost importance. Reaves, who is widely expected to enter unrestricted free agency, just made his preference for both outcomes clear. He will be eligible to sign a maximum five-year, $241 million contract with the Lakers or a four-year, $178 million deal with another team.

And the Lakers have been preparing for Reaves’ free agency for months. The indication that came out of the postseason from General Manager Rob Pelinka is that he is comfortable with Reaves as a long-term co-star alongside Luka Doncic. The organization also has no fear of losing him to a rival.

“[Reaves] started his journey here as a Laker and has made it very clear to us that he wants his journey to continue as a Laker,” Pelinka said. “And we feel the same way. We want his odyssey to continue to unfold in the Purple and Gold. There are rules and timing to all of that, but I think both sides have made it abundantly clear that we want to work something out where he continues his prolific career here.”

Pelinka likened having LeBron James, Austin Reaves, and Luka Doncic all on the roster together to having “three quarterbacks,” which he said was a luxury, but also a challenge for Lakers coach JJ Redick to maximize. And Reaves’ last season elevated him from a complementary attacking threat to a legitimate All-Star candidate, which reset his market value entirely.

The Bulls and Nets are the only teams with cap space to make an offer the Lakers would be forced to match. In Chicago, Reaves can very well overtake Josh Giddey and play as the team’s No. 1 star, while in LA, he’ll be second fiddle to Doncic. The Bulls, who are going through a franchise overhaul, also have the Nos. 4 and 15 first-round picks in the upcoming draft, spots where either Cameron Boozer or Caleb Wilson is expected to fall. So, along with a good paycheck, this team can definitely propose a decent sporting project to Reaves.

“Other teams that are known to have some interest in Reaves, like Utah and Atlanta, per league sources, would need to make roster moves to find the necessary space. League sources say winning will be a significant factor in Reaves’ thinking,” according to The Athletic’s Dan Woike and Sam Amick.

Everyone’s pretty sure that Reaves and the Lakers’ journey wouldn’t have ended at the hands of the OKC Thunder if their kingpins had been healthy. Reaves had suffered a Grade 2 oblique strain towards the end of the season, but eventually came back in the second round. He admitted to doing “everything” he could to return to the court. He even led the team with 27 points, seven rebounds, six assists, and two blocks despite committing eight turnovers in the decider Game 4. But the scoring burden proved too much for Reaves and 41-year-old LeBron over the postseason, and Doncic’s absence proved detrimental.

According to another Woike report, the Slovenian, who’s set to be the face of the LA rebuild, has “made it clear” to the front office that he wants to continue playing along with Reaves. Doncic is also against trading him for a bigger star like Giannis Antetokounmpo. “Doncic, those sources say, would strongly prefer a team construction that includes him and Reaves alongside whatever star the Lakers could acquire,” the report mentioned.

A lot of the Lakers’ offseason movement depends on James, who has made no public commitment to return to LA. Reports have suggested the Cavaliers are among the leading alternatives, with insider Brandon Robinson confirming “mutual interest” between the two sides. The veteran even liked his uncle’s social media post featuring him wearing a 2018 Cleveland home jersey with the tag “Come home.” That fueled more tension around James not returning to the Purple and Gold.

With $52.6 million off the books (James’ expired contract), sure, there is a belief the Lakers could replace him. But can they, really? ESPN’s Bobby Marks has a better solution, although the Akron Hammer might not like it.

“Can the Lakers afford to bring back James on a $50 million salary and still be in a position to bolster their roster? When factoring in a new contract for Austin Reaves, that answer is a resounding no,” Marks explained. “Would James compromise to return to L.A.? A $30 million salary would allow the Lakers to re-sign Luke Kennard, Rui Hachimura, and use the full $15 million non-tax midlevel exception.”

On the other hand, external suitors might be willing to pay James only a veteran’s minimum, which is less than $4 million. And considering his top production in the past season, especially in the playoffs, the NBA veteran might still want to see himself among the league’s top earners.

What could happen is that James accepts an LA return at reduced pay, rather than doing the same thing in a new environment. Cleveland might aggressively clean up if they get swept in the coming days, moving away from James Harden, but they also have to secure Donovan Mitchell’s extension.

In short, it is a difficult summer ahead, and despite multiple important Lakers stars wanting the band back together, it won’t be a cakewalk.