EL SEGUNDO, Calif. (AP) — Austin Reaves is re-signing with the Los Angeles Lakers on a four-year contract extension worth $185 million, a person with knowledge of the deal told The Associated Press on Wednesday.

The person spoke on condition of anonymity because the deal is not yet official for Reaves, who cements his status as one of the most successful undrafted players in recent NBA history with this contract.

Reaves is declining his $14.9 million player option for the upcoming season to ink this extension with the team that signed him out of Oklahoma after the draft in 2021. The shifty guard has grown into one of the NBA's most effective scorers and playmakers, increasing his scoring average in every season of his five-year career.

Reaves averaged 23.3 points, 5.5 assists and 4.7 rebounds last season despite missing two significant chunks of the year with injuries that followed him into the postseason. He has also developed a close bond with his Lakers backcourt partner, NBA scoring champion Luka Doncic.

Reaves would have been one of the NBA's top free agents on the open market this summer. Instead, he remains firmly alongside Doncic while the Lakers and LeBron James determine their next steps. Los Angeles also has been discussing the future with impending free agents Rui Hachimura, Luke Kennard and Jaxson Hayes.

After the Pacific Division champion Lakers' season ended with a second-round loss to the Oklahoma City Thunder, general manager Rob Pelinka made it clear Reaves likely wasn't going anywhere, saying the team and Reaves had both already essentially decided to work out an extension. Reaves grew up in Arkansas as a Lakers fan, and he is a fan favorite in Los Angeles.

“He started his journey here as a Laker, and has made it very clear to us that he wants his journey to continue as a Laker,” Pelinka said. “And we feel the same way."

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