Lakers decline Nick Smith Jr.’s team option, making guard free agent

The Lakers declined Nick Smith Jr.’s $2.5 million team option for the 2026-27 season, making the guard an unrestricted free agent. 

The decision, which was first reported by ESPN, will help give the Lakers over $50 million in cap space entering free agency on Tuesday.

Free agency officially starts at 3 p.m. on Tuesday.

Smith signed a two-way contract with the Lakers on Sept. 29 after being waived by the Hornets earlier in September 2025 after two seasons with the Hornets. 

He averaged 6.2 points and shot 39.5% on 3-pointers in 30 regular games with the Lakers before being converted to a standard NBA contract in April ahead of the playoffs. 

Smith was the No. 27 pick in the 2023 NBA Draft.