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Lakers General Manager Rob Pelinka during a press conference in June 2024

With the NBA Draft set for June 23 and 24, the Los Angeles Lakers are entering a crucial stretch of the offseason.

A front office reshuffle remains underway, the trade market is already open, and the possibility of a draft-night deal continues to loom over the franchise.

However, another important date is fast approaching.

By June 29, players and teams must make decisions on contract options, a deadline that could significantly impact how much salary cap flexibility the Lakers carry into free agency.

Lakers Face Important Contract Decisions Before Free Agency

Austin Reaves is widely expected to opt out of his current deal as a formality before negotiating a more lucrative long-term contract.

The situations involving Deandre Ayton and Marcus Smart are far less certain. Both veterans hold player options worth $8.1 million and $5.4 million, respectively, and their decisions could have a major impact on the Lakers’ offseason plans.

Smart is viewed as an important piece of any potential 2026-27 roster, while Ayton’s future remains less clear as Los Angeles is expected to explore upgrades in the frontcourt.

One decision flying somewhat under the radar involves Nick Smith Jr., who holds a $2.5 million team option for next season.

Spotrac analyst Keith Smith believes the Lakers could go in either direction depending on their broader cap strategy.

“If the Lakers go the cap space route this summer, they’ll decline this option,” the Spotrac analyst wrote. “If they end up staying over the cap, Los Angeles could pick up this option, as Smith has shown he belongs on an NBA roster.”

Smith spent most of last season on a two-way contract before the Lakers converted his deal to a standard NBA contract ahead of the playoffs, making him eligible for postseason action.

Across 30 regular-season appearances, the 6-foot-2 guard averaged 6.2 points and 1.0 assist while shooting 43.5% from the field.

His shooting from beyond the arc was particularly encouraging, as he connected on 39.5% of his three-point attempts, trailing only Drew Timme, Rui Hachimura, and Luke Kennard among Lakers players.

Smith Jr. Could Emerge as Under-the-Radar Offseason Decision

Smith played just eight total minutes across six playoff appearances, the third-fewest on the roster, with only Dalton Knecht and Maxi Kleber logging fewer minutes.

Despite his limited postseason role, the young guard made a strong case during the regular season that he belongs at the NBA level.

Among his standout performances were a 25-point outing against the Portland Trail Blazers in November, during which he knocked down five three-pointers, and a 21-point performance against the Sacramento Kings in December.

Because of restrictions associated with his two-way contract, Smith spent significant time with the South Bay Lakers, where he was able to expand his role and gain valuable playing time.

Across 18 G League appearances, he averaged 19.7 points, 3.5 rebounds, and 5.0 assists while shooting 49.8% from the field and 37.0% from three-point range.

Those performances suggested he had little left to prove at the G League level and was ready for a larger opportunity in the NBA, one that has yet to fully materialize.

Smith’s situation was also complicated by his contract history.

After being waived by the Charlotte Hornets during his rookie contract, he was initially positioned to become an unrestricted free agent this offseason, rather than a restricted free agent like most two-way players.

That reality may have factored into the Lakers’ decision to convert his contract before the playoffs, ensuring they maintained greater control over his future.

If Los Angeles declines Smith’s option before the June 29 deadline, however, the former first-round pick will hit the open market, where he could attract interest from multiple teams around the league.