Luka Doncic and the Lakers have signed a three- year, $165 million contract extension, with the third year a player option, both sides announced Saturday.
The Lakers moved to keep last season's highly touted mid-season acquisition from the Dallas Mavericks, who came to LA in a Feb. 1 trade for big man Anthony Davis and others.
Doncic can become an unrestricted free agent in 2028, but the Lakers will be able to re-structure his deal in summer 2027 and offer him a four-year, $323 million extension, according to ESPN.
"I just signed my extension with the Lakers. Excited to keep working to bring championships to LA and make Laker Nation proud," Doncic posted on X. "Grateful to the Lakers, my teammates and all the fans who've shown so much love since day one. This is just the beginning."
The 26-year-old Slovenian-born star appeared alongside Lakers General Manager Rob Pelinka for a Saturday news conference to announce the deal.
"Six months ago to the day, the Los Angeles Lakers chose Luka Doncic through a trade, " Lakers General Manager Rob Pelinka said at a Saturday news conference alongside Doncic. "... today, Luka Doncic chose the Los Angeles Lakers, and that is a monumental moment in Lakers history, and we could not be more grateful to you for choosing this partnership. The best young basketball player in the universe joins, for the long-term future, the best sports franchise on the globe."
Doncic initially gave his remarks in Spanish in a nod to the team's Spanish-speaking fans, before switching over to English.
"The whole organization welcomed me with open arms, and honestly I can't wait to get started," he said.
In a separate statement released by the team, Doncic was more expansive.
"I'm really grateful to the Lakers organization, my teammates and the fans for welcoming me and my family with so much support and kindness since day one. This is an amazing organization, and I truly believe in what we're building together," the statement said. "I'm going to keep working as hard as I can to bring another championship to Los Angeles and to make Laker Nation proud. This is just the beginning. I'm excited for what's ahead and to keep building something special with this team."
The Lakers suffered a disappointing first-round playoff exit at the hands of the Minnesota Timberwolves after acquiring Doncic last season. Pelinka has made moves to improve the team in the off-season, most notably by signing veterans Marcus Smart and Deandre Ayton.
The Lakers' other superstar, LeBron James, was not at Saturday's news conference. James is under contract with the Lakers for the upcoming season, but Pelinka was noncommittal when asked if he thinks the 40-year-old NBA career scoring leader will finish his career with the Lakers.
"All the interactions we've had with LeBron and his camp ... have been positive and supportive," Pelinka said. "In terms of LeBron's career, I think the number one thing we have to do there is respect he and his family's decision in terms of how long he's going to play. ... but if he had a chance to retire as a Laker, that would be great."
Doncic has averaged 28.6 points, 8.6 rebounds and 8.2 assist over his NBA career, which began in 2018-19.
Also Saturday, the Lakers announced that the Luka Doncic Foundation is committing $5 million to help launch the futures of 77 young athletes around the world. The youth development foundation is based in LA and the Slovenian capital of Ljubljana. The new program will support athletes ages 12 to 15 by working to help remove the financial barriers that all too often prevent these young athletes from pursuing their dreams, the team said.
