The Milwaukee Bucks’ superstar, Giannis Antetokounmpo, has made an emphatic statement of loyalty by agreeing to a three-year, $186 million contract extension, as confirmed by his agent, Alex Saratsis, to ESPN on Monday. This significant deal, which also incorporates a player option for the 2027-2028 season, binds Antetokounmpo, a two-time NBA Most Valuable Player, to the Bucks throughout the duration of guard Damian Lillard’s contract. The extension effectively ends the speculation about his free agency in 2025.
Giannis initially revealed his extension on social media, solidifying his commitment to the franchise that drafted him from Greece in 2013 as the 15th overall pick. The Bucks nurtured his development into one of the most influential figures in the history of the NBA. General manager Jon Horst’s trip to Chicago on Sunday was pivotal in working through the extension’s details, ensuring it maximizes Antetokounmpo’s career earnings. The extension was signed just in the nick of time, as Giannis had an 11:59 p.m. ET deadline on Monday.
Thanks to the Over-38 rule in the CBA, Giannis can opt for a short-term deal with the Bucks in 2026 and sign another four-year extension in 2028. With a 2021 NBA championship, a Finals MVP award, and two league MVP titles, Giannis has carved his name in the annals of the NBA. His career-high average of 31.1 points last season and a rare combination of MVP, Finals MVP, and Defensive Player of the Year awards further underline his greatness. In this regard, only Michael Jordan and Hakeem Olajuwon have shared the spotlight with him.
The Bucks are set to host the Philadelphia 76ers for their season opener on Thursday. This extension will commence with the 2025-26 season, ensuring Giannis’s presence in Milwaukee for at least four more years, with an option for a fifth. The deal translates to approximately $94.4 million over the next two seasons, followed by an additional $120 million for the 2025-26 and 2026-27 seasons. The last year is at Giannis’s discretion, potentially adding around $66 million more in the 2027-28 season.
Antetokounmpo’s decision to sign now comes with the awareness that waiting until next summer could have brought even more significant financial rewards. A potential max-extension scenario in 2024 could have exceeded $250 million.
“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,” Giannis joked 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.”