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Ayayi was named to the All-West Coast Conference first team after averaging 12 points, 6.9 rebounds, 2.7 assists and 1.1 steals in 32 games last season. He ranked third in the conference in true shooting percentage (.665) while he scored in double figures 21 times.
Reaves averaged 18.3 points, 5.5 rebounds, 4.6 assists in 25 games with the Sooners on 44.3% shooting from the field, earning All-Big 12 first-team honors. He led the conference in free throws made (147) and ranked fifth in true shooting percentage (.579).
The two players each went undrafted last week.
Just hours after the news was announced, Ayayi and Reaves made their debuts with the Lakers at the California Classic in Sacramento.
Ayayi registered eight points, three rebounds and one steal in 24 minutes during the 80-78 loss to the Miami Heat. Meanwhile, Reaves finished with 11 points, six rebounds, three blocked shots and two assists in 27 minutes of action.
The two players figure to give the Lakers some depth in the backcourt next season, while also developing in the NBA G League. They can spend no more than 50 games with the Lakers during the regular season with the rest of their time spent with South Bay.