Apr 9, 2025; Dallas, Texas, USA; Los Angeles Lakers guard Luka Doncic (77) looks on as the Dallas Mavericks play a tribute video for Doncic before the game against the Lakers at the American Airlines Center. Mandatory Credit: Jerome Miron-Imagn Images / Jerome Miron-Imagn Images

Before signing the extension, Doncic had a player option for the 2026-27 season and could have hit free agency next summer.

BREAKING: Luka Dončić has signed a three-year, $165 million contract extension with the Lakers, @TheSteinLine has learned. The deal contains a player option for Year 3. Dončić worked out at the team facility this AM then inked the new deal on the first day he's eligible for it. pic.twitter.com/OpzBLt1Veq