MILWAUKEE, WI (WSAU) — The speculation over when the Bucks would resign their superstar is over.
ESPN’s Adrian Wojnarowski reports that Giannis Antetokounmpo will agree to a five-year, $228 million contract that amounts to a Supermax deal, keeping him in Milwaukee through 2026.
The deal comes on the heels of a year in which Antetokounmpo became just the third player in NBA history to win MVP and Defensive Player of the Year in the same season. In seven years in Milwaukee, he’s averaged 20.1 points, 8.9 rebounds, and 4.3 assists per game.
A Supermax contract allows clubs to sign a player who is one or two years away from free agency to a deal keeping them with their original club as long as they have met certain performance criteria such as being named to an All-NBA team, Defensive Player of the Year, or league MVP. Supermax contracts pay a player the equivalent of 35% of the current year’s salary cap, with an eight percent pay raise each season.
The Supermax extension is designed to allow smaller-market clubs like the Bucks to hold on to their star players instead of losing them to bigger clubs. Once Giannis signs the deal, he will be one of just a handful of Supermax players currently in the league.
Had Antetokounmpo not agreed to the Supermax contract he would have become an unrestricted free agent following the 2021 season. The new deal does include a player opt-out after the fourth year.
The status of Giannis’ deal became a major talking point following the Bucks’ early exit from the 2020 NBA Postseason bubble in Orlando. Despite having the league’s best record during the regular season, Milwaukee lost to the Miami Heat in the Eastern Conference Semifinals. Many considered the season to be a letdown, especially after the team lost to the Toronto Raptors in the Eastern Conference Finals in the prior year.
That has led the Bucks front office to considerably overhaul their roster for the upcoming season, bringing in shooters like Jru Holiday and DJ Augustin to complement the Greek Freak and Khris Middleton.
It’s unclear when Giannis will officially sign the deal, but he did announce that he came to terms with the club on Twitter by saying “This is my home, this is my city.. I’m blessed to be able to be a part of the Milwaukee Bucks for the next 5 years. Let’s make these years count.”
Players teamed up to give Giannis pens for his birthday during the start of camp, with the intention that he would use one of them to sign his new deal.
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