The Los Angeles Lakers have agreed to a max extension with restricted free agent Austin Reaves, sources told ESPN.

Reaves' new deal will start at $12.4 million next season and include an 8% raise each season, netting out to $56 million over four years, sources said.

The 6-foot-5 guard had a breakout campaign in his second season in the league, flirting with 50/40/90 shooting averages to go along with 13 points, 3 rebounds and 3.4 assists per game.

In the Lakers' final 11 regular-season games as they chased a spot in the play-in tournament, Reaves averaged 19.8 points and 6.1 assists while shooting 58% from the field. L.A. went 9-2 and ended up with the No. 7 seed in the Western Conference.

Reaves, 25, continued that production in the playoffs, averaging 16.9 points, 4.4 rebounds and 4.6 assists while starting all 16 postseason games during L.A.'s run to the Western Conference finals.

Reaves went undrafted out of Oklahoma in 2021. He was originally signed by the Lakers to a two-way deal in the summer before having his contract converted to a guaranteed roster spot shortly before training camp.

Retaining Reaves was part of the plan that Lakers vice president of basketball operations and general manager Rob Pelinka laid out to reporters before the team conducted its exit interviews, declaring, "I would say this resoundingly clear: Our intentions are to keep our core of young guys together."

To that end, the Lakers have been busy at the start of free agency, agreeing to deals Friday with Rui Hachimura, Gabe Vincent, Taurean Prince and Cam Reddish. On Saturday the team also agreed to contracts with D'Angelo Russell and Jaxson Hayes before retaining Reaves.