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Luka Dončić did not wait to sign his extension with the Lakers.
On Saturday, Dončić agreed to a three-year, $165 million contract extension with the Lakers on the first day he was eligible to do so. The deal comes with a player option in 2028. The news was first reported by ESPN.
The Lakers acquired Dončić from Dallas in February in one of the most stunning trades in NBA history, dealing Anthony Davis, Max Christie, and a 2029 first-round pick. The trade cost Dončić a five-year, $345 million extension with the Mavericks, which the team reportedly was hesitant about offering him, hence the decision to move him.
Dončić has two years, $95 million remaining on his current contract, with a player option for the 2026–27 season.
“I just signed my extension with the Lakers,” Dončić posted on X. “Excited to keep working to bring championships to LA and make Laker Nation proud. Grateful to the Lakers, my teammates and all the fans who’ve shown so much love since day one. This is just the beginning.”
Dončic could have signed a four-year, $229 million deal, but he elected to sign a shorter contract to reset his contract status sooner.
The player option is important in Dončić’s next contract because it will line up with when he hits 10 years of NBA service time, making him eligible for a projected record five-year, $417 million deal. Dončić will likely decline the player option to sign the max contract.
The Lakers are committed to building around the 26-year-old Dončić as LeBron James enters the twilight of his career. The contract is the first move since the Buss family decided to sell the team to Dodgers owner Mark Walter in June after decades of ownership. Walter bought the team at a $10 billion valuation, which is a record for North American sports franchises. The deal has yet to be approved by the NBA’s Board of Governors.
Dončić has repeatedly expressed his loyalty to the Lakers after being traded to the organization and hinted at an extended working relationship with Walter after the sale was announced.
“The Lakers are an amazing organization,” Dončić posted on X. “I’m looking forward to meeting Mark and excited about the future. I am also grateful to Jeanie and the Buss family for welcoming me to LA, and I’m happy that Jeanie will continue to be involved. I look forward to working with both of them to win championships!”
Dončić will play for Slovenia in EuroBasket, which begins on Aug. 27.
