MILWAUKEE, WI (WSAU) – According to league sources, the Milwaukee Bucks and Giannis Antetokounmpo have agreed to a three-year, $186 million max deal just before Monday night’s midnight deadline.
Bucks’ general manager Jon Horst reportedly traveled to Chicago on Sunday to meet with Antetokounmpo’s agent to discuss the specifics of the agreement, according to Adrian Wojnarowski of ESPN. The deal was verified by league sources for The Athletic and includes a player option in the third year of the extension, which would be the 2027–28 season.
Even if Antetokounmpo chooses not to play in the final season, the next four seasons of his contract—through the 2026–27 season—are now fully guaranteed. He will now earn $57.6 million next season, $62.2 million in 2026, and can opt into his player option for $66.8 million in 2027.
Antetokounmpo can also agree to another short-term contract with the Bucks again in 2026 and another four-year agreement with them in 2028 because of the CBA’s Over-38 provision.
According to The Athletic, the total for Antetokounmpo’s new extension works out to almost $186.6 million using a projected salary cap of $164,585,000 in the 2025–26 season. These details will matter to the Bucks’ ownership group as they add up luxury payments over the next five years. Milwaukee was paying the 4th highest luxury tax amount in the NBA before Giannis’s extension, trailing only the Suns, Clippers, and Warriors.
This timeline also fits their recently acquired point guard Damian Lillard’s current deal perfectly. The Bucks are now on track to have their star duo under contract for the upcoming four seasons if Lillard decides to exercise his $63.2 million player option for the 2026–27 season.
Milwaukee will begin the season tied for the top betting odds at +380 to win the NBA title this season.
