Whether it was the plan all along or not, the next chapter of the Los Angeles Lakers’ franchise will be written this summer.
The time and place were all but confirmed after the team held on to their assets at the trade deadline. Their lone move — swapping Gabe Vincent’s expiring contract for Luke Kennard’s — addressed a dire shooting need. But it also accomplished the front office’s primary goal — preserving assets.
With no first-round picks traded away or long-term money taken in, the Lakers have now positioned themselves with immense optionality in the offseason. This may sound like familiar spin or excuses from the front office. Yet it is different now, because it has to be.
Of the 14 players on the roster today, only five have guaranteed deals heading into next year. That can grow to seven if Deandre Ayton and Marcus Smart pick up their player options. Austin Reaves should also be safely assumed to be back on a new deal. Beyond that, the books are as clean as they’ve been in recent memory.
As a result, the Lakers are set to have roughly $50 million in cap space this summer. The actual number could be more or less, depending on a few variables. Most prominently, the future of LeBron James.
On top of their spending ability, the Lakers’ draft capital will also jump from one to three tradeable first-round picks come draft night. They also still have future pick swaps they could use to sweeten a deal.
All these resources ultimately only matter if the Lakers, and specifically President of Basketball Operations Rob Pelinka, can capitalize on them. When given the choice to improve their championship odds, Pelinka and the rest of the team’s braintrust decided to stand pat. Their time to strike would be in July and August. And if that decision doesn’t pay off, then consequences should follow.
Despite trading for Luka Dončić, being promoted and receiving a contract extension just last year, there may be no front-office person under more pressure this summer than Pelinka.
Pelinka’s long-term job security likely was never going to be in immediate jeopardy under the team’s previous ownership. But under a new regime led by Mark Walter, Pelinka will not be able to coast by on sentimental ties alone. He will need to provide results quickly.
The team’s trust in Pelinka to build the Lakers squad of the future may already be splintering. A report from The Athletic noted that multiple league sources expect the team to make “significant hires” in a wide range of front-office positions this summer.
Filling a previously bare-bones front office does not suggest Pelinka’s job is at stake, but it is noteworthy that he will no longer be the sole voice in the room.
Beyond the pressures of working under a new ownership, Pelinka must also contend with building a winner around Dončić within a shorter window than is often discussed.
While Dončić being 15 years younger than James affords the team a longer shot at sustainable success, time is still ticking when it comes to competing for a championship. The Lakers are only guaranteed to have Dončić for two more seasons before he can opt out of his deal.
If that decision were to be made today, it is likely Dončić would sign a new extension with Los Angeles. However, if the Lakers prove unable to surround him with a legitimate championship-caliber team by then, history has shown that stars will ultimately go to better winning situations if given the opportunity.
So how does Pelinka go about actually building a roster that can contend now and for the future this offseason? It likely begins with their aforementioned cap space.
With at least seven spots to fill on the depth chart, the Lakers can go the traditional route and use their space to sign players who better fit around Dončić. It is worth noting that the unrestricted free-agent market this summer is projected to be extremely thin in high-end talent and even clear upgrades to current personnel. The restricted free-agent class, on the other hand, has several intriguing names that should be on the Lakers’ wishlist.
That said, restricted free-agency comes with its own set of hurdles. An interested team must get the player to agree to sign with them, and if they do, the money offered will then be tied up for days while the incumbent team decides whether to match the offer. The two teams could also work on a sign-and-trade for that player, with the interested team needing to send assets in return.
The latter will likely need to be the case if the Lakers hope to pry players such as Peyton Watson, Jalen Duren, Walker Kessler or Tari Eason away from their teams.
Due to a weak free-agent crop, canvassing the league for trades could end up being a more fruitful use of the Lakers’ cap room. They could use their flexibility to take on bad contracts from a team facing tax issues and pick up assets in return, or go star hunting, with the most obvious target being Giannis Antetokounmpo.
Not that it needed confirmation, but reports indicate the Lakers are expected to make a “hard push” for Antetokounmpo this summer.
The Lakers do not have the draft capital or blue-chip prospects that Milwaukee will likely covet in return, but can absorb nearly the entirety of Antetokounmpo’s deal into their space without needing to send back bloated contracts. It remains to be seen if this is of interest to Milwaukee, but it is a unique bargaining tool the Lakers hold over nearly every other team this offseason.
Whether it’s a star like Giannis or multiple role players, the Lakers must explore and be open to every pathway to improve because they can’t afford to be wrong.
Cap space will not last forever. The top of the Western Conference is young and only getting better. Dončić is only in his prime once.
If gaining optionality was their end goal, the Lakers have achieved it. But they must understand that with more choices also comes more chances to make a misstep. The wrong max contract or wrong trade target could put a halt to the next era before it even begins.
These are the self-imposed stakes they put on themselves this summer. Not because they are the Lakers, but a result of years of their own inaction.
All stats courtesy of Cleaning the Glass unless otherwise stated. You can follow Alex on Bluesky at @alexregla.bsky.social.
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