Milwaukee Bucks star Giannis Antetokounmpo has agreed on a three-year, $186 million contract extension according to multiple reports ending the uncertainty over his future.
The two-time NBA MVP adds two fully guaranteed years to his current deal, as well as a player option for the 2027-28 season.
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.”
The extension starts with the 2025-26 season, meaning Antetokounmpo is under contract for at least four more years — and a fifth if he’s so inclined. He will earn about $94.4 million over the next two seasons, then about $120 million more for the 2025-26 and 2026-27 seasons.
The last year is at his option, meaning he could make roughly $66 million more in 2027-28.
New contract ends speculation about Antetokounmpo’s future with the Bucks
After a disappointing finish in the 2023 playoffs, the Bucks made a big offseason splash with the acquisition of All-NBA guard Damian Lillard. With Antetokounmpo now locked up for the near future, the Lillard-Antetokounmpo tandem should have plenty of time to develop.
And if Antetokounmpo had waited until next summer to agree to an extension, he possibly may have secured earned even more money. A max-extension scenario had he waited until 2024 could have been a four-year agreement at a figure exceeding $250 million.
The decision to sign the extension before the start of this season is a departure from what he said earlier this month.
“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,” Antetokounmpo said with a laugh during the Bucks’ Media Day event on Oct. 2.
“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 establishing himself as one of the greatest players in league history, with a résumé that includes a 2021 NBA championship and Finals MVP award and two times as the league’s MVP.
He averaged a career-high 31.1 points a season ago and is one of three players in history with an MVP, a Finals MVP and a Defensive Player of the Year award. Only Michael Jordan and Hakeem Olajuwon have also accomplished it.