Giannis Antetokounmpo: The End of an Era in Milwaukee?
Amidst the anticipation of NBA teams gathered in Chicago for the Draft Combine, Giannis Antetokounmpo’s situation with the Milwaukee Bucks looms as the big unknown of the offseason.
After the Bucks’ third consecutive elimination in the first round of the playoffs, the two-time NBA MVP considers, for the first time, the possibility of exploring other options outside of Milwaukee for his long-term future.
Teams in the league have shown interest in Antetokounmpo, and are expected to intensify their efforts during the Combine. However, any conversation revolves around the player’s wishes and whether there is a franchise that aligns with his aspirations.
Antetokounmpo’s representatives, Giorgios Panou and Alex Saratsis, are expected to meet with the Bucks to discuss the future. The uncertainty about his permanence impacts all 30 franchises in the league, from the draft lottery to draft night in June.
Antetokounmpo is coming off one of the best seasons of his career, averaging 30.4 points, 11.9 rebounds, and 6.5 assists, with 60% efficiency in 67 games. It’s his second consecutive season averaging 30-10-5 with 60% field goal shooting, something no other player in NBA history has achieved.
In the playoffs, Antetokounmpo elevated his game, averaging 33.0 points, 15.4 rebounds, and 6.6 assists against the Indiana Pacers, despite Milwaukee’s loss in five games.
Since the 2018-19 season, the Bucks have the best winning percentage in the NBA, with .663. However, since the 2021 championship, they have only won one playoff series. Antetokounmpo has expressed his desire to win multiple titles.
“If I can’t help my team win a second ring, I’m disappointing myself,” Antetokounmpo stated on the “Thanalysis Show” podcast.
Giannis Antetokounmpo
Antetokounmpo, 30, was selected by Milwaukee in 2013 and has spent his entire 12-season career with the franchise, accumulating numerous awards, including Finals MVP, Defensive Player of the Year, Most Improved Player, and nine All-Star appearances.
He has signed maximum extensions to stay in Milwaukee on two occasions when his future was in doubt, a supermax contract in 2020 and again in 2023, and is under contract through the 2026-27 season, with a player option of $62.8 million for 2027-28.
This summer could mark a turning point in his career in Milwaukee, which, after nine consecutive playoff appearances and two major point guard trades, sees its resources limited. Internally, the Bucks believe they have more functionality than in previous years, thanks to exceptions in free agency and a draft pick to negotiate.
Jon Horst, promoted to general manager of the Bucks in 2017, made key acquisitions that led the team to its first NBA championship in 50 years. He hired Mike Budenholzer as coach, signed Brook Lopez and Bobby Portis as free agents, and traded for PJ Tucker in three years.
Horst has also demonstrated an ability to make big deals at critical moments for the Bucks. In 2020, he signed Jrue Holiday, which led to Antetokounmpo’s first extension and the championship. In 2023, he acquired Damian Lillard, securing another extension for Antetokounmpo.
However, this offseason presents significant challenges for the Bucks due to the lack of valuable contracts to trade, a limited number of draft picks, and high salaries.
The Bucks have seven players under contract for next season: Antetokounmpo, Kyle Kuzma, AJ Green, Andre Jackson Jr., Chris Livingston, Tyler Smith, and Lillard, whose 2025-26 season is at risk after suffering a ruptured Achilles tendon in Game 4 against Indiana. Lillard will turn 35 in July and is owed $113 million over the next two seasons. Lopez, Portis (player option), Taurean Prince, Kevin Porter Jr. (player option), and Gary Trent Jr. could become free agents this summer.
Pat Connaughton also has until June 24 to exercise his $9.4 million contract for next season. Antetokounmpo, Lillard, and Kuzma would earn $130 million of the Bucks’ $164 million payroll next season.
The Bucks also cannot trade multiple first-round picks, as the next one they possess is in six years, in 2031. Currently, they can move their 2031 or 2032 first-round pick.
The Kuzma trade at the deadline allowed the Bucks to stay below the second apron of the collective bargaining agreement, which could be important this summer as the team evaluates its options.
The Bucks are $23 million below the luxury tax and $41 million below the second apron, without Lopez. If Milwaukee re-signs the 37-year-old center, uses its non-taxpayer mid-level exception of $14.1 million, and completes the roster, the Bucks would become a luxury tax team for the sixth consecutive season. Since 2019-20, Milwaukee has spent $220 million on tax penalties, but ownership will need to consider whether it makes sense to continue spending on taxes next season with a limited roster.
