Luka Dončić has officially committed to the Los Angeles Lakers after a significant trade that marked a pivotal moment in the 2023-2024 NBA season. Dončić signed a three-year contract extension worth $165 million, as confirmed by his agent Bill Duffy. Initially, Dončić was eligible for a four-year extension worth $229 million this offseason, and had he opted to wait until the following summer, he could have pursued a five-year deal valued at $296 million.

The Lakers experienced some apprehension regarding Dončić's impending decision. According to ESPN’s Brian Windhorst, the team was 'a little bit stressed out' about whether Dončić would finalize the contract extension. However, Dončić signaled his intentions to commit to the Lakers during his proactive recruitment of several players to join him in Los Angeles back in July. The trade that sent Dončić to the Lakers from the Dallas Mavericks, in exchange for Anthony Davis, astounded the basketball community and is considered one of the largest trades in league history.

As a key player for the Mavericks, Dončić had led the franchise to the NBA Finals the previous year. His new contract, while substantial, does not reflect the potential earnings he could have secured had he remained with the Mavericks. After the trade, ESPN's Bobby Marks noted that Dončić was no longer eligible for the super-max extension that could have granted him $345 million over five years. Throughout the 2024-25 season, Dončić averaged 28.2 points, 8.2 rebounds, and 7.7 assists per game, contributing significantly to the Lakers’ performance as they secured the No. 3 seed in the playoffs. However, they faced disappointment, being eliminated by the Minnesota Timberwolves in the first round of the playoffs in five games. This outcome was underwhelming, given the high expectations for Dončić and his collaboration with LeBron James. Nevertheless, the Lakers have adjusted their roster this offseason to better support Dončić, positioning themselves as strong contenders for the championship in the upcoming season.