Report: Luka Doncic signs 3-year, $165M extension with Lakers
The Lakers announced the extension but did not divulge terms of the deal, which comes six months to the day after Doncic was acquired by the Lakers from the Dallas Mavericks.
Per ESPN, the contract extension includes a player option for the 2028-29 season. It also keeps Doncic out of free agency next summer and nixes his 2026-27 player option in place of the new contract.
"Today is a monumental moment for our franchise. Luka Doncic's future is with the Los Angeles Lakers," said Rob Pelinka, the Lakers president of basketball operations.
"Luka is one of the game's most transcendent players, and his on-court dominance and passion is without compare. From the moment Luka became a Laker, there was an immediate connection and admiration between Luka and our fanbase. You can feel it in your spirit when you attend a Lakers game. Luka is an absolute killer on the court, and blends that with a unique generosity and care for the community. Above all else, Luka will lead our franchise to pursue future championships, a goal that will forever define the Lakers."
Doncic, 26, averaged 28.2 points, 8.1 rebounds and 7.5 assists in 28 games (all starts) since he was acquired by the Lakers in a three-team deal on Feb. 2.
The Lakers also received Maxi Kleber and Markieff Morris, and the Mavericks picked up Anthony Davis, Max Christie and a 2029 first-round draft pick. The Utah Jazz, who helped to facilitate the trade, received Jalen Hood-Schifino and a 2025 second-round draft pick via the Los Angeles Clippers from the Lakers. Dallas also sent a 2025 second-round selection to Utah.
"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," Doncic said. "This is an amazing organization, and I truly believe in what we're building together. 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."
A five-time All-Star selection, Doncic is averaging 28.6 points, 8.6 rebounds and 8.2 assists in 450 career games (all starts) with the Mavericks and Lakers.
--Field Level Media
Field Level Media 2023 - All Rights Reserved
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
27 minutes ago
- Yahoo
NFL to take 10% stake in Disney's ESPN
Disney (DIS) said late Tuesday that ESPN has reached a preliminary agreement with the NFL to acquire media assets including NFL Network, NFL RedZone, and NFL Fantasy in exchange for a 10% equity stake. The new partnership is expected to expand the reach and visibility of NFL content through Disney's growing streaming footprint. ESPN plans to integrate NFL Network into its upcoming direct-to-consumer service while maintaining traditional distribution through cable and satellite providers. The companies did not disclose the value of the stake. "This deal helps fuel ESPN's digital future, laying the foundation for an even more robust offering as we prepare to launch our new direct-to-consumer service," Jimmy Pitaro, chairman of ESPN, said in a statement. Alongside the acquisition, ESPN and the NFL have also entered into a second non-binding agreement. Under the terms, the league will license certain NFL content and intellectual property to ESPN for use across the newly acquired NFL Media assets. The company will also assume distribution rights for RedZone and merge NFL Fantasy with ESPN Fantasy Football to create a single, official NFL fantasy platform. As part of the deal, ESPN will license three additional NFL games per season to air on NFL Network. The network will also take over four games from ESPN's broader NFL schedule, maintaining its slate of seven games annually. Analysts see the debut as a key step toward more bundling opportunities with Disney+ and Hulu, as streamers across the industry work to retain subscribers and reduce churn. Ahead of the NFL confirmation, Morgan Stanley analyst Ben Swinburne wrote in a Monday note, "With the NFL as an investor, ESPN's long-term future is incrementally more secure." He added, "While the NFL cannot stop cord-cutting and will surely not give Disney a discount in future rights renewals, by investing in ESPN, the NFL will be even more motivated to help ESPN survive and potentially thrive in the new streaming-first world ahead." The push into streaming comes as Disney continues to adapt to the mass exodus of pay-TV subscribers. In June, the company laid off several hundred employees across its global operations in a bid to streamline costs, with cuts impacting areas such as TV marketing, publicity, and corporate finance. In a statement to Yahoo Finance, Disney said at the time that it had taken a "surgical" approach to minimize the number of impacted roles, adding that no entire teams were being eliminated. In its latest earnings release, Disney reported a 13% year-over-year drop in linear network revenue while direct-to-consumer revenue climbed 8%, underscoring the company's accelerated pivot to digital distribution. Since 2023, Disney has cut more than 8,000 jobs as part of a $7.5 billion cost-savings initiative. Allie Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at Sign in to access your portfolio
Yahoo
27 minutes ago
- Yahoo
NFL buys 10% stake in ESPN, which buys NFL Network, RedZone
The NFL sold its NFL Network and Sunday RedZone television show to ESPN on Tuesday in exchange for a 10% equity stake in the US-based sports television network. Both companies announced the deal, which also includes the combining of NFL Fantasy Football with ESPN Fantasy Football. Federal regulators must approve the transaction, a process that could take several months, according to the league. Until the deal closes, fans are unlikely to see any significant changes to ESPN or NFL Network. NFL team owners also must approve the deal, but that is seen as little more than a formality given the expanded reach on offer for NFL programming. "I think we've hooked up with the best partners we can have," said New England Patriots owner Robert Kraft, chairman of the NFL's media committee. "That will help expose us to more homes, more of an international audience. Strategically, we have to grow our salary cap and can only do that by -- if we want to keep labor peace, we have to grow our audience. This transaction helps us to do that." Global growth opportunities for the NFL, which already plays games overseas every season, played a key role in motivating the NFL to get terms of the deal sorted. "We're hooking up with the strongest sports amalgamation of sports product," Kraft said. "We're giving them what I believe is the best content, and they're giving us the greatest operational company to grow our audience globally. "This is a way for us to broaden our audience. We've done so much. I don't think there's any company like (ESPN owners) Disney and ESPN in doing sports, all sports. We need to expose our product to more people and a greater variety of people." js/sla
San Francisco Chronicle
28 minutes ago
- San Francisco Chronicle
NFL and ESPN reach nonbinding agreement for sale of NFL Network and other media assets
Ever since the NFL announced it was looking to sell NFL Network and other media assets, ESPN had been seen as one of the favorites to make a deal. Nearly five years later, a framework is finally in place. The NFL announced Tuesday night that it has entered into a nonbinding agreement with ESPN. Under the terms, ESPN will acquire NFL Network, NFL Fantasy and the rights to distribute the RedZone channel to cable and satellite operators and the league will get a 10% equity stake in ESPN. The league and ESPN still have to negotiate a final agreement and get approval from NFL owners. The agreement will also have to undergo regulatory approvals. 'Sometimes great things take a long time to get to the point where it's right. And we both feel that it is at this stage,' NFL Commissioner Roger Goodell said in a call with The Associated Press. Along with the sale of NFL Network, the NFL and ESPN will have a second nonbinding agreement where the NFL will license to ESPN certain NFL content and other intellectual property that can be used by NFL Network and other assets that have been purchased. 'We have been talking about it in earnest for the last few years. But interestingly enough, we started talking about this over a decade ago but nothing really ended up happening. And we got back at it when I came back to Disney after my retirement,' Disney CEO Bob Iger said in a call with the AP. What ESPN gets ESPN is expected to launch its direct-to-consumer service before the end of September. The service would give cord-cutters access to all ESPN programs and networks for $29.99 per month. The addition of more NFL programming increases the value. Many viewers will receive the service for free as part of their subscription to cable, satellite and most streaming services. 'When I came back to Disney and assessed essentially the future of ESPN, it became clear that ESPN had to launch a bigger and more robust and digital or direct-to-consumer product, not only for the sake of ESPN's business, but for the sports fan,' Iger said. "And obviously, when you start thinking about high-quality sports content, your eyes immediately head in the direction of the NFL because there's really nothing more valuable and more popular than that. NFL Network — which has nearly 50 million subscribers — would be owned and operated by ESPN and would be included in ESPN's direct-to-consumer product. The NFL RedZone channel would be distributed by ESPN to cable and satellite operators. However, the NFL will continue to own, operate and produce the channel as well as retain the rights to distribute the channel digitally. ESPN would also get rights to the RedZone brand, meaning RedZone channels for college football and basketball or other sports could be coming in the future. NFL Fantasy Football would merge with ESPN Fantasy Football, giving ESPN the official fantasy football game of the league. NFL Network will still air seven games per season. Four of ESPN's games, including some that are in overlapping windows on Monday nights, would move to NFL Network. ESPN will license three additional games that will be carried on NFL Network. What the NFL receives (and retains) The league gets a 10% equity stake in ESPN. Aidan O'Connor, a senior vice president at the Prosek Partners marketing firm, estimates the value of that would be $2.2 billion to $2.5 billion. ESPN is currently 80% owned by ABC Inc. as an indirect subsidiary of The Walt Disney Company. The other 20% is owned by Hearst. There isn't any word yet on whether the 10% stake for the NFL would all come from ABC's stake or whether it would be 5% each from ABC and Hearst. This isn't the first time the league has had an equity stake in a digital or communications business. It had that in the past with Sirius Satellite Radio and SportsLine. The NFL could also have equity in the newly formed 'Paramount Skydance Corporation,' which owns CBS, due to the league's partnership with Skydance. 'This is new as far as a partner now operating a business that we built, ran and grew," said Hans Schroeder, the NFL's executive vice president of media distribution. "It'll also be a little bit new again with some of the dynamics here, but we'll continue to balance that in a really arm's length way where we'll think about how we manage and work across to all our partners.' The league will continue to own and operate NFL Films, NFL+, the official websites of the 32 teams, the NFL Podcast Network and the NFL FAST Channel (a free ad-supported streaming channel). 'The moves align with the NFL's longstanding ambition to reach $25 billion in annual revenue by 2027 — a target first set in 2010, when league revenue stood at approximately $8.5 billion,' O'Connor said. 'Financially, the move also signals to investors that ESPN is doubling down on differentiation and content stickiness by offering a scarce and premium product in a crowded marketplace. Intentionally ceding equity to the NFL transforms ESPN from a media licensee into a true platform partner — with few properties rivaling the league in terms of cultural significance, appointment viewing, audience reach, and monetization efficiency." No major changes yet Viewers will likely not see any immediate impacts until next year once everything is approved. Besides ESPN, the biggest winner in this could be NFL Network, which had seen reductions in original programming the past couple years. 'Total Access,' the network's flagship show since its launch in 2003, ended in May 2024 amid a series of layoffs and cost-cutting moves. 'Good Morning Football' also moved from New York, where it had been since its start in 2016, to Southern California last year. NFL Network moved to a broadcast facility across the street from SoFi Stadium in Inglewood, California, in 2021. 'The thing that's exciting for us is that we have put a lot into the network. I think it's been very effective for fans. We know it's in good hands,' Goodell said. 'They're innovative, they recognize great production and know how to produce it. They will do a fantastic job of operating the network and taking it to another level.'
