Former Arkansas guard signs deal with new NBA team after being waived

First-round pick In 2023 doesn't need long after being let go by one team to find a new home

Charlotte Hornets guard Nick Smith Jr. (8) drives to the basket against the Chicago Bulls during the first quarter at Spectrum Center. | Nell Redmond-Imagn Images

FAYETTEVILLE, Ark. — The Los Angeles Lakers have signed former Arkansas guard Nick Smith, Jr., to a two-way contract, it was confirmed on Monday.

Smith, entering his third NBA season, will play both in the NBA G-League with the South Bay Lakers as well as in the NBA when Los Angeles calls him up to be part of the team's 15-man active roster.

He will also take part in the Lakers' NBA training camp that is getting underway followed by opportunities to play in NBA preseason games prior to the start of the NBA regular season in late October.

Just last week in a move that on the surface seemed stunning, the Charlotte Hornets waived Smith, who was one of the organization's two first-round selections in the 2023 NBA Draft.

A Jacksonville, Ark., native, Smith (6-3) started in 27 of the 60 games he played in for the Hornets in 2024-25, averaging 9.9 points, 2.4 assists, and 2.1 rebounds in 22.8 minutes per outing while shooting 39.1% from the field, including 34.9% from 3, and 93.5% from the free throw line in what appeared to be a solid NBA year-two campaign.

In his first NBA season in '23-24, Smith led all NBA rookies in three-point field goal shooting at 43.2% as he made 62-of-146 shots from distance.

The team chose to exercise its option with year three of Smith's rookie contract back in October 2024, which at the time appeared to suggest Smith would be safely headed for a third NBA season in Charotte (a.k.a. the upcoming '25-26 campaign).

But following the '24-25 season, Charlotte loaded up on guards in the 2025 NBA Draft in June as well as in free agency and via trade, making it a certainty that veteran players would be either traded or waived.

Laker’s newest signing, Nick Smith Jr., ended last season on fire 🚨

🔥 28 PTS
🔥 10 AST
🔥 8 REB
🔥 8/13 FG (61.5%)
🔥 6/9 3PT (66.7%)
🔥 6/6 FT (100.0%)

He shot 43.2% from 3PT his rookie season 👀 pic.twitter.com/Atv2AEvpS9

— NBALakersReport (@NBALakersReport) September 30, 2025

Although Smith was waived, because the team picked up its option in year three of his rookie deal, he's guaranteed the full $2.7 million owed him for '25-26.

Smith's two-season NBA career resume ...

• 111 games played including 27 starts

• Career-best performance of 28 points (8-of-13 field goals, including 6-of-9 from 3, and 6-of-6 free throws), 10 assists, and 6 rebounds in 37 minutes in a 126-96 road loss to the Toronto Raptors on April 9, 2025

• Five games of scoring 20 or more points

• 35 games of scoring in double figures

• Career-high 6 made three-point field goals in a single game (three times)

Smith was the No. 27 overall pick in the first round of the 2023 NBA Draft as he became only the 15th Razorback all-time to be picked in the first round of the draft.

He became the third one-and-done in program history to be drafted, joining his Arkansas teammate and current Orlando Magic guard Anthony Black and former Arkansas star and current Golden State Warriors guard Moses Moody.

Smith is part of the Razorbacks program having a player(s) selected in five consecutive drafts (2019-2023). He is the 40th Hog to be selected all-time in the NBA Draft.

Smith missed more than half of his freshman season as a Razorback in '22-23 due to a knee injury, playing in 17 games (and missing 19) with 12 of those coming after a two-month absence in the middle of the season. 

A two-time SEC Freshman of the Week honoree, Smith averaged 12.5 points, 1.7 assists, and 1.6 assists in 25.8 minutes per game while shooting 37.6% from the field, including 33.8% from 3, and 74.0% from the free throw line.

Charlotte Hornets guard Nick Smith Jr. (8) drives to the basket against the Toronto Raptors in the second half at Scotiabank Arena. | Dan Hamilton-Imagn Images

He scored 20 or more points five times at Arkansas, including his career-high 26 points in a home win over Georgia. 

Smith also had game-saving performances in wins over Auburn in the '22-23 SEC Tournament (he hit the game-winning shot and finished with 14 points) and North Carolina-Greensboro (team-high 22 points).

His 21-point effort was key in the Hogs' revenge-win over Oklahoma in December 2022 in Tulsa, Okla. 

He had a game-high 24 points to go with 6 rebounds and 2 steals in an 86-83 road loss to then-No. 2 Alabama in March 2023. He had a team-high 25 points to go with 6 assists, 4 steals, and 3 rebounds in the team's 88-79 home loss to then-No. 23 Kentucky in March 2023.

Smith was the national No. 1 -ranked incoming college freshman in '22-23 and a consensus Top 10-projected lottery pick in 2023 mock drafts before he ever played his first game as a Hog. 

He was in and out of the lineup due to the knee issue and never quite got into a rhythm or groove as he was effectively working through mid-season form once the team advanced to the postseason.