The first in-season move for the Los Angeles Lakers is underway, as they've declined the third-year rookie-scale option on Jalen Hood-Schifino, according to senior NBA insider Chris Haynes. Hood-Schifino is set to become an unrestricted free agent at the end of this season.

The guard only played in 21 games last season for Los Angeles and averaged 1.6 points per game in 5.2 minutes. With growing their depth, thanks to the Lakers drafting Dalton Knecht, they'll have to thin their roster. Hood-Schifino is the fifth person in the point guard depth chart. Both Austin Reaves and Bronny James are ahead of him in that category.

Despite the lack of playing time, Hood-Schifino showed promise when he was in college. The Indiana basketball freshman averaged 13.5 points, 4.1 rebounds, and 3.7 assists per game. He also made the 2022-23 All-Big 10 team, as well as winning the Big 10 Rookie of the Year. His Hoosiers team made it to the Round of 32 before losing to Miami (FL).

Following his one-and-done season, the Lakers drafted Hood-Schifino 17th overall, just like Knecht. They were hoping for a scoring punch but that opportunity never came.

The Lakers have potential with Jalen Hood-Schifino

Lakers don't pick up Jalen Hood-Schifino's rookie option
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Luckily, he spent the majority of his time in the G-League and showed potential. He averaged 22 points, 4.8 rebounds, and 5.5 assists per game. Hood-Schifino grew increasingly confident in his court awareness, scoring, and shooting.

Los Angeles is in a win-now mode, especially with LeBron James entering his 22nd season. Although he showed what he can do, the Lakers don't have the time to wait for him to develop. Especially in a growing Western Conference, they could go .500 and miss out on even the play-in tournament (ask the Houston Rockets). Every game counts, even in the early stages of the year.

Even though they're not picking up his option, Hood-Schifino remains with the team until the year. He can continue to develop in the G-League and even obtain some minutes with the Lakers. While he's towards the end of the depth chart, his name could be called unexpectedly. With JJ Redick running the show now, he seems to have this Los Angeles team off to a fast start. They're 3-2 and look very balanced.

Regardless of how they look, Hood-Schifino could simply not be ready to play at that level. He's only 21 years old, so there's still some growing to do. The Lakers could sign Hood-Schifino to a new contract if they like what they see. However, if he stays until the end of the year remains to be seen.