Milwaukee Bucks superstar forward Giannis Antetokounmpo had pushed back against the possibility of signing a contract extension ahead of the regular season opening this week.
About that? The Greek Freak has changed his mind. ESPN’s Adrian Wojnarowski reports that Giannis has signed a three-year, $186 million contract extension with the Bucks. Antetokounmpo seemed to indicate something was up on this front before the report broke.
Antetokounmpo, 28, had noted that it didn’t make financial sense for him to sign an extension after the Bucks acquired Damian Lillard in a blockbuster trade from the Portland Trail Blazers back in late September.
The seven-time All-Star was eligible to sign an extension worth $260 million over four years after the 2023-24 campaign. He pretty much left a good $74 million on the table by inking this new contract right now.
Giannis Antetokounmpo stats (2022-23): 31.1 PPG, 11.8 RPG, 5.7 APG, 55% shooting
The two-time NBA MVP’s new deal calls for a player option for the third season. In a vacuum, this will enable him to actually earn more cash throughout the remainder of his career with the Over-38 rule in the new NBA Collective Bargaining Agreement that enables one of the game’s best players to sign another extension in 2028.
Antetokounmpo’s current contract is worth $228.2 million over five years. He signed it back in 2020 and it included a player option for the 2025-26 campaign. At $45.64 million, he’s the 13th highest-paid player in the NBA on a per-year basis. This new deal will obviously make Giannis one of the highest-paid players once it kicks in.