Giannis Antetokounmpo Secures 3-year, $186M Contract with Bucks
Milwaukee Bucks star Giannis Antetokounmpo has agreed on a three-year, $186 million contract extension according to multiple reports ending the uncertainty over his future.
The two-time NBA MVP adds two fully guaranteed years to his current deal, as well as a player option for the 2027-28 season.
Early Monday evening, Antetokounmpo posted on X (formerly Twitter) a picture of himself holding the Larry O’Brien championship Trophy and Finals MVP trophy with the words “Milwaukeeeeeeeee! Let’s get it!!!! #BucksInSix #Extended.”
The extension starts with the 2025-26 season, meaning Antetokounmpo is under contract for at least four more years — and a fifth if he’s so inclined. He will earn about $94.4 million over the next two seasons, then about $120 million more for the 2025-26 and 2026-27 seasons.
The last year is at his option, meaning he could make roughly $66 million more in 2027-28.
New contract ends speculation about Antetokounmpo’s future with the Bucks
After a disappointing finish in the 2023 playoffs, the Bucks made a big offseason splash with the acquisition of All-NBA guard Damian Lillard. With Antetokounmpo now locked up for the near future, the Lillard-Antetokounmpo tandem should have plenty of time to develop.
And if Antetokounmpo had waited until next summer to agree to an extension, he possibly may have secured earned even more money. A max-extension scenario had he waited until 2024 could have been a four-year agreement at a figure exceeding $250 million.
The decision to sign the extension before the start of this season is a departure from what he said earlier this month.
“I said that it did not make sense to sign the contract right now because money’s not important — a lot of money is important. So I’m going to sign it next year,” Antetokounmpo said with a laugh during the Bucks’ Media Day event on Oct. 2.
“But, no, at the end of the day, again, it doesn’t make sense. It does not make sense for me to sign it right now. I’ve got to always look at what’s best for me and my family, for my situation.
“But at the end of the day, I want to be a Milwaukee Buck for the rest of my career, as long as we are winning. It’s as simple as that.”
Antetokounmpo is establishing himself as one of the greatest players in league history, with a résumé that includes a 2021 NBA championship and Finals MVP award and two times as the league’s MVP.
He averaged a career-high 31.1 points a season ago and is one of three players in history with an MVP, a Finals MVP and a Defensive Player of the Year award. Only Michael Jordan and Hakeem Olajuwon have also accomplished it.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
READ MORE
Milwaukee Bucks Rumors: Why Giannis Antetokounmpo Signed $186M Extension Now Instead of Next Year
Oct 15, 2023; Los Angeles, California, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) before the game against the Los Angeles Lakers at Crypto.com Arena. Mandatory Credit: Jonathan Hui-USA TODAY Sports
Even after the Milwaukee Bucks successfully traded for Damian Lillard, Giannis Antetokounmpo came out with a statement that he wasn’t going to sign an extension this summer. Instead, he would rather wait for next season in order to secure an even more substantial deal.
This all changed on Monday, though, after the seven-time All-Star agreed to a $186 million, three-year extension with the team.
Did Giannis Antetkounmpo Give the Milwaukee Bucks a Massive Discount?
According to reports, Giannis could have signed a record-breaking $234 million, four-year deal next summer. Up front, that’s $48 million more than the extension he agreed to on Monday, albeit a year longer.
So, did Antetokounmpo just give the Bucks a massive discount? Perhaps as a way to pay them back, so to speak, after they went all-in on Dame this summer?
While this could definitely be the case, NBA insider Ric Bucher of Fox Sports points out that if you look at the long-term implications of Giannis’ decision, it actually gives him more leverage in the long run:
“Giannis ABSOLUTELY had to agree to extend or this is an insane bet on the come,” an anonymous NBA executive told Bucher.
“Adding three years now to his current deal commits him to the Bucks through the 2026-27 season, aligning his contract with Lillard’s, which has a player option for the 2026-27 season, when Lillard will turn 36.
“This, then, gives Antetokounmpo leverage to make certain the Bucks don’t merely let Lillard walk. This way he can make the Bucks re-sign his new running mate, if that’s what he’d want, or utilize the cap space to attain a younger star,” Bucher wrote.
Either way, aligning his contract with that of Lillard will put Antetokounmpo in a position to determine what the Bucks will do three years from now. As much as he and the organization deny it, this is pretty much exactly what he did this summer.
It’s not all about winning, either. The timing of this new deal will actually also allow Giannis to make more money in the future:
“Signing a slightly shorter deal now also positions Antetokounmpo to make a maximum salary until he is in his late 30s by signing two subsequent slightly shorter deals. His new contract now means he will be 31 when he is eligible to sign yet another extension. A similar three-year deal would take him to age 34, still ostensibly in his prime, when he could then sign a four-year deal that takes him to age 38,” Bucher pointed out.
“This allows him to maintain leverage over the franchise to ensure they don’t go rebuild when he is 31 and Lillard is done at 35,” the executive said.
