Austin Reaves Reportedly Takes Discount in New Lakers Contract amid Latest NBA FA Rumors

Austin Reaves is taking a discount on the original extension he agreed upon with the Los Angeles Lakers.

According to ESPN's Dave McMenamin, Reaves is giving up around $5 million in total to help the team keep financial flexibility in the years to come:

The Lakers have had a fairly transformation summer.

Reaves signed a massive extension. LeBron James said his goodbyes and will move on in free agency. The Lakers pulled off a very expensive sign-and-trade for center Walker Kessler. Quentin Grimes, Sandro Mamukelashvili, Collin Sexton, Ziaire Williams and Kevon Looney were added in free agency. Cameron Carr was drafted. Deandre Ayton was traded to the Washington Wizards for Jaden Hardy and a pair of future second-round picks. Rumors persist that the Lakers are trying to add Jonathan Kuminga.

The goal of the offseason has been abundantly clear—surround Luka Dončić with as complementary a roster as possible. Keeping Reaves in Los Angeles for the long haul was a huge part of that effort.

"Everybody knows it's a completely different team," Reaves told reporters regarding L.A.'s new-look roster. "There's going to be different things asked of different people, and if that's what JJ [Redick] and the staff asks of me, I'll do it to the best of my ability."

"The pieces that are coming in, I'm very excited about and I'm happy to get started today and see where it goes," he added.