The Los Angeles Lakers may have an entire offseason ahead of them, but one decision cannot drag on for too long: Austin Reaves.

After a breakout 2025-26 campaign, Reaves is entering unrestricted free agency at exactly the right time. According to Lakers insider Jovan Buha of The Athletic, Los Angeles may need to approach the $200 million range to avoid a serious bidding war, especially with Eastern Conference teams like the Brooklyn Nets and Chicago Bulls expected to monitor the situation closely.

Reaves enters free agency with full Bird Rights attached to the Lakers, meaning Los Angeles can exceed the salary cap to keep him. Rival teams can still pursue him aggressively, but the Lakers hold a financial advantage because they can offer a fifth year on top of a higher annual salary.

Buha recently suggested that a five-year deal worth roughly $200 million could completely eliminate most outside competition. That would place Reaves near the $40 million annual range, a price many cap-space teams may hesitate to offer a guard approaching his late 20s.

The challenge for Rob Pelinka and the Lakers front office is balancing Reaves’ market value with the rest of the roster.

Los Angeles still has major decisions involving LeBron James, Rui Hachimura, Luke Kennard, and multiple depth pieces. At the same time, the franchise also wants to improve its frontcourt and add a legitimate rim protector this summer. Every extra dollar committed to Reaves impacts how aggressive the Lakers can be elsewhere.

That is why Buha believes the number matters so much.

According to him, the Lakers might be able to negotiate closer to the $35 million annual range because of Reaves’ strong desire to stay in Los Angeles. But dropping into that range could invite real competition around the league.

“I think there will be competition for his services,” Buha said. “But if you get that number down to around $35 million average annual, that’s where I could see someone like Brooklyn, Chicago, Memphis come in and outbid them by a little bit.”

While Memphis was also mentioned, the two Eastern Conference teams drawing the most attention are Brooklyn and Chicago because of their cap flexibility and offensive needs.

Brooklyn and Chicago both make logical sense as potential suitors.

The Nets are still searching for long-term offensive stability around Michael Porter Jr. and their young core, while the Bulls badly need another reliable shot creator after their recent offensive struggles. Reaves averaged 23.3 points, 5.5 assists, and 4.7 rebounds this past season while efficiently handling increased offensive responsibility beside LeBron James.

Still, league interest may not matter much if Reaves never seriously entertains leaving Los Angeles.

Austin Reaves Continues to Prioritize Staying in Los Angeles

Complicated free-agency situations can quickly spiral across an entire offseason.

The Jonathan Kuminga situation with Golden State last year showed how messy negotiations can become when a young player and a franchise are not fully aligned. That standoff slowed down several of the Warriors’ offseason plans while both sides tried to find a resolution.

Reaves’ situation appears very different. He has repeatedly spoken publicly about wanting to remain with the Lakers long term, and Buha reinforced that belief while discussing the situation. “Everything I know about Austin, he grew up a Lakers fan, grew up a huge Kobe fan,” Buha said. “He wants to be in LA, and the Lakers want him.”

Reaves recently told TMZ that he wants to “run it back” in Los Angeles despite the Lakers’ disappointing playoff finish this season. The 27-year-old has also spoken openly about LeBron James’ impact on his growth since arriving in LA, and he has made it clear that he still believes this core can contend if healthy next season.

That loyalty is ultimately what gives the Lakers confidence entering free agency. Even if another team offers slightly more money, many around the league believe Reaves would strongly consider taking less to remain in Los Angeles, continue playing alongside LeBron James, and keep building his future with the franchise he grew up supporting.