Austin Reaves will return to the Los Angeles Lakers on a four-year, $185million contract, the largest in NBA history for a player that went undrafted.

Reaves declined his $14.9million player option for next season last week and now gets a deal that includes another player option for the final campaign of the contract in 2029-30.

The 28-year-old swingman went undrafted out of Oklahoma University in 2021 before signing a two-way contract with the Lakers.

He averaged 10.2 points, 3.1 rebounds and 2.6 assists in 125 games (including 41 starts) over his first two seasons with Los Angeles and was rewarded with a four-year, $56million contract in July 2023.

Reaves’ numbers continued to get better, and he’s averaged at least 20 points over the last two seasons, including a career-best 23.3 per game in 2025-26 while also establishing a personal high in rebounding (4.7) and adding 5.5 assists a contest.

Breaking: Los Angeles Lakers star Austin Reaves intends to sign a four-year, $185 million maximum contract to return to the franchise, with a player option for the final season in 2029-30, sources tell @shamscharania.

Reaves lands the richest contract for an undrafted player in… pic.twitter.com/jsdIHdOkaJ

— ESPN (@espn) June 24, 2026

Los Angeles went 53-29 last season to earn the Pacific Division title and fourth seed in the Western Conference play-offs before being swept by the Oklahoma City Thunder in the semifinals.

Reaves averaged 25 points, seven assists and four rebounds over the Lakers’ final three losses in that series.