Luka Dončić has officially signed a three-year, $165 million contract extension with the Los Angeles Lakers, a deal that includes a player option for the final year. This move could be seen as a strategic choice, as Dončić had the opportunity to secure a longer four-year, $229 million contract. However, the decision for a shorter-term agreement allows him the possibility of entering free agency in the summer of 2028, a scenario that could lead to a significant five-year deal exceeding $400 million.

According to NBA reporter Marc Stein, this player option for the 2028-29 season positions Dončić to potentially sign a deal with the Lakers that would surpass the five-year supermax contract initially expected to be offered by the Dallas Mavericks, projected at approximately $340 million. Additionally, if Dončić opts for unrestricted free agency and signs a completely new contract, he would be eligible for a full no-trade clause, enhancing his leverage in contract negotiations in the future.

ESPN's Dave McMenamin has indicated that, should Dončić decline his player option for the 2028-29 season, the subsequent five-year extension he could pursue might be valued at around $418 million. This potential contract could lead to a historic milestone, making him the first player in NBA history to achieve an annual salary of $80 million, translating to nearly $1 million per game. Such figures reflect the growing financial stakes within the league, particularly for a player who is becoming the cornerstone of a $10 billion franchise. While much could change over the next few years, including the risk of injuries or performance shifts, Dončić's trajectory suggests that the Lakers will prioritize keeping him happy and secure in Los Angeles for the foreseeable future.