After months of speculation, Giannis Antetokounmpo and the Bucks have officially agreed to terms on a lucrative new deal that will keep the superstar forward in Milwaukee for the foreseeable future.
The Bucks inked Antetokounmpo, a 2021 NBA champion and two-time MVP, to a three-year max extension worth $186 million, ESPN’s Adrian Wojnarowski reported Monday.
The contract will also reportedly include a player option for the 2027–28 season, which Antetokounmpo could decline in order to hit free agency in the summer of 2027.
The news of the massive deal comes just hours before Monday’s 11:59 p.m. ET deadline for the Bucks and Antetokounmpo to finalize an extension. The timing suggests the eagerness to get something done, though it’s worth noting the 28-year-old would have been eligible for a four-year, $234 million extension if he waited until next offseason, per Wojnarowski.
Giannis Antetokounmpo has agreed on a three-year, $186 million contract extension, sources tell ESPN. https://t.co/CmSj3I2Puk
— Adrian Wojnarowski (@wojespn) October 23, 2023
Instead, the pact will now add two fully guaranteed years to Antetokounmpo’s current deal, which had three years remaining including a player option for ’25–’26.
Drafted No. 15 overall in the 2013 NBA draft, Antetokounmpo, who has now signed his third extension, will again lead Milwaukee into another season with high expectations. Except this time, the seven-time All-Star will be joined by star guard Damian Lillard, who was acquired on Sept. 27.
With Antetokounmpo and Lillard signed until 2027, the Bucks appear committed to its championship core going forward, particularly after signing key veterans in guard Khris Middleton and center Brook Lopez to new extensions, and moving star Jrue Holiday in the trade that landed Lillard this offseason.
The Bucks will open the 2023–24 season on Thursday at home against reigning MVP Joel Embiid and the 76ers (7:30 p.m. ET, TNT).
