Lakers, Luka Doncic Announce Contract Extension: ‘Excited to Keep Working, Bring Championships to LA’

As expected, the Los Angeles Lakers and Luka Doncic are keeping their NBA partnership going.

Doncic has agreed to a three-year maximum-salary contract extension that includes a player option for the 2028-29 season, agent Bill Duffy told ESPN’s Shams Charania. The deal will kick in starting with the 2026-27 campaign and replaces the player option that had been on Doncic’s current contract.

The extension is projected to be worth $160.8 million based on an estimated 7 percent salary cap increase next summer. If the cap jumps by the full 10 percent, the deal could climb to roughly $165.3 million.

Both Doncic and the Lakers confirmed the extension on Saturday.

“I just signed my extension with the Lakers,” Doncic posted on social media. “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.”

Doncic also pledged $5 million to support 77 young athletes around the world, saying, “Basketball gave me everything, and I’m lucky to be able to give back and help the next generation.”

Lakers president of basketball operations Rob Pelinka called the extension a major moment for the franchise.

“Luka Doncic’s future is with the Los Angeles Lakers,” Pelinka said in a team statement. “Luka is one of the game’s most transcendent players, and his on-court dominance and passion is without compare. From the moment he became a Laker, there was an immediate connection and admiration between Luka and our fanbase. Luka is an absolute killer on the court, and blends that with a unique generosity and care for the community.”

Doncic became eligible for an extension now that six months have passed since the Mavericks traded him to Los Angeles. While he could have signed a four-year deal, the three-year structure makes more long-term financial sense.

By opting out in 2028, he’ll have reached 10 years of NBA service, allowing him to sign a new max contract that starts at 35 percent of the cap instead of 30 percent.

That next deal could be historic. If cap projections hold and Doncic stays with the Lakers, he could sign a five-year deal worth up to $417 million in 2028 free agency.

Doncic, 26, was the NBA Rookie of the Year in 2019 and has made five straight All-NBA First Teams from 2020 through 2024. He appeared in just 50 games this past season due to a nagging calf injury, splitting time between Dallas and Los Angeles.

Despite being limited, he averaged 28.2 points, 8.2 rebounds, 7.7 assists, and 1.8 steals per game while shooting 45 percent from the field and 37 percent from three. The Lakers made the playoffs but were bounced in the first round.

Doncic reached the NBA Finals with the Mavericks the year before. Now the Lakers are betting he can help lead them back.

More NBA Rumors & News