Milwaukee Bucks superstar Giannis Antetokounmpo is set to become eligible for a contract extension on Friday, marking his first opportunity to reaffirm his commitment to the franchise since signing a supermax extension before the 2020-21 season. While he still has two years left on his current contract, with a player option for a third year, the countdown to his potential free agency is already underway. Antetokounmpo, at the age of 28, has made it clear that his loyalty to the Bucks hinges on the team’s ability to remain in championship contention.
Giannis Antetokounmpo’s next contract: What to know
Each season of Antetokounmpo’s career brings heightened expectations. As a two-time MVP, he reached new heights during the 2022-23 season, averaging a career-best 31.1 points, 11.8 rebounds, and 5.7 assists. Despite his individual success, the Bucks suffered a disappointing finish in last year’s playoffs. After securing the top seed in the playoffs, they were eliminated in just five games by the Miami Heat in the first round. Antetokounmpo’s absence for two games due to a back injury further hindered the team’s performance.
Milwaukee finds itself at a critical juncture in franchise history. From the moment Antetokounmpo becomes eligible to sign an extension, all eyes across the league will be closely monitoring his contract status. Tim Bontemps, Jamal Collier, and Bobby Marks have collaborated to analyze the most pressing questions surrounding Antetokounmpo and the Bucks during this crucial period.
Firstly, it’s important to understand Antetokounmpo’s current contractual status. In December 2020, he inked a five-year, $228 million supermax extension, which keeps him under contract for the upcoming season and the following one. Additionally, he holds a player option for the 2025-26 season. If he declines this option, he will become an unrestricted free agent for the first time.
Here is the breakdown of his salary in the coming years: $45.6 million for 2023-24, $48.8 million for 2024-25, and $51.9 million (player option) for 2025-26. Although Antetokounmpo’s $45.6 million salary this season represents 33.55% of the Bucks’ salary cap, it falls below the maximum salary for a player with over 10 years of service.
This is a consequence of the salary cap remaining stagnant in 2020-21 and only experiencing a 3% increase in 2021-22 due to the revenue losses incurred during the COVID-19 pandemic. Consequently, Antetokounmpo will be the seventh-highest paid player in the NBA this season, trailing Stephen Curry, Kevin Durant, Nikola Jokic, LeBron James, Joel Embiid, and Bradley Beal.
With still two years remaining on his contract before he can become an unrestricted free agent, Antetokounmpo has the opportunity to sign a three-year extension worth approximately $169 million.
The next few weeks will be critical for the Bucks and Antetokounmpo as they navigate the decision-making process regarding his contract extension. The basketball world eagerly awaits his choice, which will undoubtedly have significant implications for the future of the franchise.
Will Antetokounmpo continue his journey with the Bucks, aiming to bring a championship to Milwaukee, or will he explore other options in pursuit of new challenges? Only time will reveal the outcome, but one thing is certain: the basketball landscape will be forever altered by his decision.
In conclusion, Antetokounmpo’s impending contract extension presents a pivotal moment for both himself and the Milwaukee Bucks. With his eligibility to sign an extension fast approaching, the NBA community eagerly awaits his decision and the subsequent impact it will have on the league. As the countdown begins, the basketball world holds its breath, poised for the next chapter in Antetokounmpo’s storied career.