Giannis Antetokoumpo staying in Milwaukee, agrees to three-year extension with Bucks

Milwaukee Bucks star Giannis Antetokounmpo agreed to a three-year contract extension on Monday that could be worth as much as $186 million, a person familiar with the deal confirmed to USA TODAY Sports.

The person requested anonymity because he was not authorized to speak publicly until the deal is official.

This marks another significant move for the Bucks, who acquired All-Star guard Damian Lillard from the Portland Trail Blazers in a blockbuster trade on Sept. 27. Milwaukee opens the 2023-24 NBA season on Thursday against the Philadelphia 76ers and is one of the top favorites, along with Boston, to win the Eastern Conference.

The decision to sign the extension before the start of this season is a departure from what the two-time MVP and 2021 Finals MVP said earlier this month. Antetokounmpo could’ve waited until next summer to sign an extension that paid him more.

“I don’t remember where I said it, but I said it did not make sense to sign a contract right now because money isn’t important, but a lot of (expletive) money is important, so I’m going to sign it next year,” Antetokounmpo said at the start of the Bucks’ training camp.

Waiting until next year could’ve netted Antetokounmpo a four-year extension worth at least $234 million.

However, 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.”

Antetokounmpo’s extension begins with the 2025-26 season, and it will pay him $56.4 million in the first season, $62.2 million in 2026-27 and $66.8 million in 2027-28. There is a player option on the final year of the contract, and the total value of the contract depends on salary-cap increases over the next two seasons. As it is, Antetokounmpo is set to make approximately $281 million in the next five seasons.

Antetokounmpo’s extension lines up closely with the remaining years on Lillard’s contract. Lillard has four years and $216.2 million left on his contract, and he will be paid $63.2 million in the final season of the deal in 2026-27.

During the summer, Antetokounmpo wanted to make sure the Bucks were all-in and committed to winning another championship and wasn’t ready to commit to another deal with the franchise that drafted him until he was sure that was the case.

Bucks GM Jon Horst helped convince Antetokounmpo, first by trading for Lillard and then offering the star another massive contract.