Giannis Antetokounmpo signs three-year, $186 million extension with Bucks

Milwaukee Bucks star Giannis Antetokounmpo signed a three-year, $186 million extension before Monday’s deadline. His new deal includes a 2027-28 player option worth $66.82 million.

Of course, salaries are subject to change based on cap alterations. The seven-time All-Star’s new contract begins in 2025-26. Antetokounmpo, 28, earned $42.49 million last season and is slated to make $45.64 million in 2023-24.

This is part of the five-year, $228.2 million extension he signed in December 2020.

On account of the Over-38 rule in the CBA, Antetokounmpo can sign a short-term deal again with the Bucks in 2026 and another four-year extension in 2028, per ESPN.

According to a few NBA betting sites, the Milwaukee Bucks hold second-shortest odds below the Boston Celtics to win this season’s 2024 championship. Sportsbooks still show great odds for the Denver Nuggets and Phoenix Suns.

Here is the breakdown on the Giannis extension in Milwaukee:

25-26 $57,604,893
26-27 $62,213,285
27-28 $66,821,676-Player Option

The $57.6M salary in 2025-26 replaces a $51.5M player option.

The extension is based on the salary cap increasing 10% in 2024-25 and 2025-26.

— Bobby Marks (@BobbyMarks42) October 23, 2023

In September, Antetokounmpo became eligible to sign a three-year, $173 million extension. Had the Bucks star waited until next offseason to sign a new deal, the 2021 NBA champ could have inked a four-year deal worth $260 million.

Last season, the five-time All-Defensive member appeared in 63 games with Milwaukee, averaging a career-high 31.1 points per game, along with 11.8 rebounds and 5.7 assists.

Giannis Antetokounmpo inks extension with Milwaukee Bucks, deal includes 2027-28 player option

In Milwaukee’s 123-113 victory over the Washington Wizards on Jan. 3, 2023, the forward scored a career-high 55 points in 37 minutes of action. He finished 20-of-33 (60.6%) shooting from the floor and 15-of-16 (93.8%) at the foul line.

Additionally, in the Bucks’ 150-130 win over the Detroit Pistons on Jan. 23, the Greek Freak scored 20 of his 29 points in the opening quarter. It was his first game back after missing five straight contests due to a sore left knee.

Antetokounmpo became the first Bucks player to record 20 points on 100% shooting from the field in a single quarter since Glenn Robinson in 2000 against the Celtics.

MILWAUKEEEEEEEEE!! Let’s get it!!!! #BucksInSix #Extended pic.twitter.com/2wP0AVqG3Y

— Giannis Antetokounmpo (@Giannis_An34) October 23, 2023

Note that Antetokounmpo also led the league in free throw attempts (772) last season and usage percentage (38.8%). Plus, the wing finished fifth in points (1,959), ninth in total rebounds (742), seventh in free throws (498), 11th in defensive win shares (3.7), third in defensive box plus/minus (2.7), and second in defensive rating (107.8).

The 10-year veteran was the only player in 2022-23 to be named unanimous All-NBA First Team. Not to mention, he became the first player over the last 50 years to receive this honor by a unanimous vote in five straight seasons.

The Bucks host the Philadelphia 76ers on Thursday in their 2023-24 season opener.