Giannis Antetokounmpo Signs 3-Year, $186M Extension With Milwaukee Bucks
The “Greek Freak” will stay in Milwaukee for an additional three years as Giannis Antetokounmpo has reportedly re-upped with the Bucks for a three-year, $186 million contract extension.
ESPN’s NBA Insider, Adrian Wojnarowski, was the first to report the news.
Bucks GM Jon Horst and Antetokounmpo’s agent, Alex Saratsis of Octagon, met on Sunday in Chicago, worked through the max extension details, and the two-time MVP finalized the agreement today, sources tell ESPN. Giannis had an 11:59 PM ET deadline tonight to complete the deal.
— Adrian Wojnarowski (@wojespn) October 23, 2023
During the offseason, Antetokounmpo eluded to not being sure that he would resign with the Bucks when his current contract ended, but the team trading for disgruntled Portland Trailblazer Damian Lillard may have changed his mind.
The Milwaukee Buck player took to Instagram to announce his longer stay in Wisconsin.
— Giannis Antetokounmpo (@Giannis_An34) October 23, 2023
He could have waited until after next season to be rewarded with a max contract that would have netted him over $250 million for a four-year agreement, according to NBA.com.
The extension will begin after the 2024-25 season. Antetokounmpo will make approximately $94.4 million with the current contract over the next two seasons. When the latest extension kicks in for the 2025-26 and 2026-27 seasons, he will pocket $120 million for the two years. The last year, which will be at his option, will place about $66 million more in his bank account for the 2027-28 season.
On the Bucks’ Media Day earlier this month, he explained why he didn’t plan on signing an extension this year but reassured fans and media alike that he wants to end his career with the Milwaukee Bucks.
“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. 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 a seven-time All-Star who led the Bucks to the NBA title in 2021. Last season, he had a career year averaging 31.1 points, 11.8 rebounds, and 5.7 assists over 63 games.