Davis had a $28.7 million player option for 2020-21 but will unsurprisingly turn that down and seek a longer-term deal. Davis and his agent, Rich Paul, will hold meetings in the coming weeks to determine what makes the most sense for the superstar's future.
The 27-year-old thrived in his first season alongside LeBron James in Los Angeles averaging 26.1 points, 9.3 rebounds and 2.3 blocks over 62 regular-season games. Davis improved his production during the playoffs, averaging 27.7 points over the Lakers' title run.
One of the game's marquee two-way talents, Davis has already made seven all-star teams over his eight-year career and has been named to four All-NBA first teams.
Davis spent his first seven seasons with the New Orleans Pelicans.