NBA 2025 Offseason Check-In: Los Angeles Lakers

Hoops Rumors is checking in on the 2025 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Los Angeles Lakers.

Free agent signings

• Deandre Ayton: Two years, $16,208,000. Second-year player option. Signed using non-taxpayer mid-level exception.
• Jake LaRavia: Two years, $12,000,000. Signed using non-taxpayer mid-level exception.
• Marcus Smart: Two years, $10,524,700. Second-year player option. Signed using non-taxpayer mid-level exception.
• Jaxson Hayes: One year, $3,449,323. Re-signed using Non-Bird rights. Waived right to veto trade.
• RJ Davis: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
• Eric Dixon: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
• Arthur Kaluma: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
• Kylor Kelley: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
• Augustas Marciulionis: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.

Trades

• Acquired the draft rights to Rocco Zikarsky (No. 45 pick) from the Bulls in exchange for the draft rights to Lachlan Olbrich (No. 55 pick) in the 2025 draft and cash ($2.5MM).
• Acquired the draft rights to Adou Thiero (No. 36 pick; from Nets) in a seven-team trade in exchange for the draft rights to Rocco Zikarsky (No. 45 pick; to Timberwolves) and cash ($3.25MM; to Timberwolves).

Draft picks

• 2-36: Adou Thiero
  • Signed to three-year, $5,949,688 contract. First two years guaranteed. Third-year team option.

Two-way signings

• Christian Koloko
  • One year, $85,300 partial guarantee (will increase to $318,218 at start of regular season).
• Chris Manon
  • One year, $85,300 partial guarantee.

Departed/unsigned free agents

• Dorian Finney-Smith (Rockets)
• Alex Len (unsigned)
• Markieff Morris (unsigned)

Other roster moves

• Signed Luka Doncic to a three-year, maximum-salary veteran contract extension that begins in 2026/27. Projected value of $160,838,784. Includes third-year player option.
• Waived Jordan Goodwin (non-guaranteed contract).
• Waived Shake Milton (non-guaranteed contract).
• Waived Trey Jemison (two-way contract).

Salary cap situation

• Operating over the cap ($154.6MM) and above the luxury tax line ($187.9MM).
• Carrying approximately $194.8MM in salary.
• Hard-capped at $195,945,000.
• Three traded player exceptions available (largest worth $1,891,857).

The offseason so far

The Lakers’ offseason began in somewhat dramatic fashion when agent Rich Paul announced on June 29 that LeBron James was picking up his player option for 2025/26. James was one of 10 players who exercised a player option in June, but two factors made his case unique. First, the ’25/26 season will be the first time in his career that LeBron is on an expiring contract; and second, Paul was the only agent who put out a lengthy statement accompanying his client’s opt-in decision.

Within that statement, Paul said that LeBron “knows the Lakers are building for the future,” wants to contend for a title, and understands “the difficulty in winning now while preparing for the future.”

“We do want to evaluate what’s best for LeBron at this stage in his life and career,” Paul’s statement concluded. “He wants to make every season he has left count, and the Lakers understand that, are supportive and want what’s best for him.”

Even for a player like James, whose two-plus decades in the NBA have included countless cryptic – some might say passive-aggressive – interview responses, social media posts, and media leaks, this one was a pretty rich text. Was LeBron suggesting he wanted a trade? Expressing displeasure that he didn’t work out a multiyear deal with the Lakers? Putting pressure on the team to go all-in in 2025/26? Hinting that he plans to retire next year?

We haven’t gotten a definitive answer to those questions over the past two months, but Paul’s statement also didn’t lead to any sort of summer fireworks involving the Lakers and James. We know based on their stunning Luka Doncic deal in February that the Lakers are capable of keeping a blockbuster trade under wraps, but there has been no indication that we’re headed in that direction with James, at least not in 2025. All indications are that the 40-year-old will open the season in Los Angeles and look to win a title alongside Doncic.

Still, it’s clear that a passing of the torch is in process in Los Angeles. While the organization has revolved around James since 2018, the spotlight has shifted to Doncic, who was also at the center of some early offseason speculation. As of August 2, Doncic’s extend-and-trade restrictions would lift and he’d be eligible to sign a maximum-salary extension with the Lakers. Would he take advantage of that opportunity and commit to the team long-term?

As August 2 approached, it became clear that there would be no drama on that front either. Not only did Doncic sign a maximum-salary extension with the Lakers, but he did so on the first day he was eligible, forgoing potential 2026 free agency and signaling that he’s all-in on L.A.

With Doncic extended and things relatively quiet on the LeBron front following that June statement, the Lakers’ focus this offseason was primarily on upgrading the roster around their two stars. The front office, which backed out of a trade for center Mark Williams at February’s deadline due to concerns about his physical, didn’t return to the trade market to make those upgrades, instead using a series of cap exceptions in free agency to improve the team’s depth.

One of four teams to use its entire non-taxpayer mid-level exception this offseason, the Lakers split their MLE between forward Jake LaRavia and center Deandre Ayton.

Ayton, a former No. 1 overall pick, is the more familiar name of the two and fills a greater hole for the Lakers, whose lack of a reliable big man was an Achilles heel in their first-round playoff loss to Minnesota in the spring. But LaRavia, an underrated, defensive-minded forward who is still just 23 years old – and whose shooting percentages significantly improved in his third NBA season – shouldn’t be overlooked.

LaRavia could play an important role for L.A., especially since the team lost Dorian Finney-Smith in free agency to Houston. Finney-Smith’s exit was a little surprising, given that he thrived following his mid-season trade to the Lakers and only got two fully guaranteed years on his deal with the Rockets. The Lakers could’ve matched that offer even while prioritizing 2027 cap flexibility, but they’re betting on LaRavia and a healthy Jarred Vanderbilt providing the wing defense they sacrificed with Finney-Smith’s departure.

The Lakers also prioritized defense with their bi-annual exception, using it to add former Defensive Player of the Year Marcus Smart. The veteran guard has battled injuries over the past couple seasons, but if he’s back to full health, Smart would be a bargain on his $5.1MM cap hit this season — even if he’s not quite the player he was in his prime years.

Finally, in need of more depth at center beyond Ayton, the Lakers used Jaxson Hayes‘ Non-Bird rights to give him a raise to 20% above his minimum salary. Hayes was overextended as the club’s starting center in the second half of last season, but as a backup on a fairly team-friendly deal, he’s certainly capable of returning positive value.

Up next

Obviously, if anything is going to happen before next summer with James, it will be the most pressing item on the Lakers’ agenda. But if we assume that the four-time MVP at least plays out his record-setting 23rd NBA season in Los Angeles, there’s not much left on the club’s offseason to-do list.

While the Lakers only have 14 players on standard guaranteed contracts, they don’t currently have a path to adding a 15th man, since they’re only operating $1.1MM away from their first-apron hard cap. If they don’t shed salary by making a trade or buying out a player, they’d have to wait until at least mid-January to sign a veteran free agent.

The Lakers do have a two-way contract slot open alongside Christian Koloko and Chris Manon. With five players signed to Exhibit 10 deals, there could be an open competition in training camp for that spot. Undrafted rookie forward Eric Dixon would presumably be the favorite if he’s healthy — he was reportedly expected to sign a two-way deal in June, but after a foot injury prevented him from suiting up for Summer League games, he got an Exhibit 10 contract instead.

The Lakers do still have a handful of extension-eligible players on the roster after agreeing to terms with Doncic. Rui Hachimura, Maxi Kleber, Gabe Vincent, and Austin Reaves could all sign new deals. But Kleber and Vincent haven’t been healthy enough since arriving in L.A. to prove themselves as reliable, regular rotation players, and Hachimura may be more valuable as a trade chip if his contract remains expiring.

As for Reaves, he was offered an extension, but because he can’t sign for more than $89MM over four years at this point, he’s expected to wait until at least next summer, when he’d be eligible for a more lucrative contract.