How the Los Angeles Lakers Can Build the Best Possible Team Around LeBron James and Luka Dončić
The Los Angeles Lakers exceeded most expectations, including their own, through the 2025-26 season.
But after a second-round sweep to the Oklahoma City Thunder, the Lakers hit the offseason with a good but not great roster, a long list of free-agent decisions and immense pressure to build a winner around Luka Dončić.
While the general expectation in NBA circles is that the team will use cap room to chase trade-market or free-agent targets, L.A. could go in an entirely different direction, keeping its core together while cashing out bench players and draft compensation in trades to improve.
Yes, a path exists for LeBron James to return for his 24th NBA season, along with Austin Reaves and Rui Hachimura. With some help from the New Orleans Pelicans, the Lakers could elevate into a more significant contender next season.
Upgrading Through Trade
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Even if Luka Dončić were healthy for the playoffs, the Lakers weren't going to get past the Thunder or the San Antonio Spurs. Running it back won't be enough.
The Pelicans have new leadership under executives Joe Dumars and Troy Weaver. The team has yet to hire a head coach, and many around the league anticipate a significant roster overhaul.
The Los Angeles Lakers receive: Trey Murphy III, Herb Jones and Yves Missi.
The New Orleans Pelicans receive: Jarred Vanderbilt, Jake LaRavia, Adou Thiero, Dalton Knecht, 2026 No. 25, 2031 first-rounder, 2033 first-rounder
The two teams could agree to a deal before the draft, eventually executed on July 6 after the moratorium. Both teams lock in first-apron hard caps at $200.5 million. That's less of an issue for the Pelicans, who avoid luxury taxes. Los Angeles faces more of a challenge to flesh out the rest of its roster, using the non-taxpayer mid-level exception to absorb Jones' salary.
The Lakers should protect their picks, but that won't work for the Pelicans. Though they're shedding significant salary, including Jones' $82.5 million over the next four seasons, the Pelicans may find a tight market for first-round picks under the league's new (unofficial) lottery system.
In this scenario, Los Angeles gets a talented, young scoring forward in Murphy, a strong perimeter defender in Jones (who, outside of one strong season, is an inconsistent shooter) and a young center to develop in Missi.
The Pelicans get two interesting prospects in Thiero and Knecht, three firsts, and a couple of veterans on relatively short contracts.
James Takes an Inevitable Discount
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As tremendous as James was throughout the playoffs, the Lakers cannot afford to pay him $50 million a season anymore. The only other teams with real spending power include the Chicago Bulls and Brooklyn Nets. Otherwise, James's best offer with teams like the Golden State Warriors is limited to the $15 million non-taxpayer mid-level exception.
Re-signing with the Lakers at $20 million may be the best he can do, while allowing L.A. to flesh out the squad around him, Dončić and Reaves.
Austin Reaves Earns a Raise
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Reaves will seek as close to a max salary as possible. Unless the Bulls, Nets or a surprise team joins the conversation with a trade to open cap room, Reaves isn't likely to get the most possible.
Still, the Lakers need to give him a viable offer as one of the best available guards in free agency this summer. To make everything work with James, Murphy and the rest of the roster, Reaves' deal would start at $34 million. A four-year contract would total $152.3 million; a five-year contract would total $197.2 million.
Either is too much for Reaves to turn down; an impressive payday for an undrafted player.
Rounding Out the Rest
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Hachimura was a three-point flamethrower in the playoffs. Luke Kennard filled in admirably as a ball-handling guard when Dončić and Reaves were out with injury. Marcus Smart was the veteran presence the team desperately needed. Deandre Ayton was vital in getting the Lakers past the Houston Rockets in the first round.
Pencil in a slight bump for Hachimura at $19 million, provided he can't find more with teams like Chicago or Brooklyn. The Lakers may not be able to afford more than $7.5 million for Kennard. Both Kennard and Ayton can opt out of their final years to re-sign at the maximum allowed with non-Bird rights: $9.7 million and $5.1 million, respectively.
The Lakers have room to sign two vet minimum players, assuming the team holds onto Bronny James and Nick Smith Jr. That could be Jaxson Hayes back as well, provided he can't earn more elsewhere.
Opening Night Rotation
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With a payroll just shy of $200 million and 14 players — minus three first-round picks — the Lakers field a fascinating team. They bring back the heart of the 2025-26 roster while adding a talented scoring forward, a perimeter defender and a young big.
PG: Luka Dončić, Marcus Smart, Bronny James
SG: Austin Reaves, Luke Kennard, Nick Smith Jr.
SF: Trey Murphy III, Herb Jones
PF: LeBron James, Rui Hachimura
C: Deandre Ayton, Jaxson Hayes, Yves Missi
Add one more veteran at the minimum. Any of the others can take a slight discount to help the Lakers afford Hayes, or even add a 15th player.
The challenge will be getting the Pelicans to move off Murphy, the best player in the deal. Still, the days of teams sending out massive draft compensation may be nearing an end, at least as the NBA experiments with its new tanking system.
Email Eric Pincus at eric.pincus@gmail.com and follow him on X @EricPincus and Bluesky.
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