The Los Angeles Lakers decline Nick Smith Jr.’s team option after one season with the franchise, according to multiple reports. The decision makes the guard an unrestricted free agent. ESPN is cited as the first to report the move, and additional outlets note that the option being rejected is valued at $2.5 million for the 2026-27 season. By declining the option, the Lakers open additional salary-cap flexibility ahead of upcoming free agency. One report states the move helps give the Lakers more than $50 million in cap space entering free agency, with free agency activity scheduled to begin on Tuesday. The Lakers signed Smith Jr. late last summer, and his departure follows a single season in Los Angeles. No sources in the provided materials indicate an alternative deal or new contract at the time of the report.