As decision-makers for all 30 NBA teams descend upon Chicago for the draft combine this week, there will be substantive conversations around the biggest unknown and domino of the offseason: What will Milwaukee Bucks forward Giannis Antetokounmpo do?
The two-time NBA MVP has not made any firm decisions on his Bucks future after the franchise’s third consecutive postseason exit in the first round, but, for the first time in his career, Antetokounmpo is open-minded about exploring whether his best long-term fit is remaining in Milwaukee or playing elsewhere, league sources told ESPN.
Teams have approached the Bucks frequently over the years about the availability of Antetokounmpo as a normal exercise, and they are expected to ramp up due diligence during combine week, according to league sources.
But any conversations surrounding the perennial All-NBA superstar and 2021 NBA champion start primarily with where he believes his long-term future lies and whether there is a franchise outside of Milwaukee that is sensible for him.
The Bucks and Antetokounmpo’s representatives, Giorgios Panou and Alex Saratsis, are expected to sit down during the offseason to discuss the future, sources said.
For the rest of the NBA, team executives, coaches and players all understand the landscape-altering focus on Antetokounmpo’s future and how it impacts all 30 franchises. From the draft lottery Monday night to draft night in June, the prospects of Antetokounmpo being moved loom largest on league movements.
Antetokounmpo is coming off one of the best seasons of his career, averaging 30.4 points, 11.9 rebounds and 6.5 assists on 60% shooting in 67 games and finishing in the top three of MVP voting. It’s his second consecutive season averaging 30-10-5 on 60% shooting; no other player in NBA history has done it even once.
Antetokounmpo was even better in this postseason — raising his game to average 33.0 points, 15.4 rebounds and 6.6 assists against the Indiana Pacers — though Milwaukee still lost in five games to Indiana.
Since 2018-19, Milwaukee has a .663 win percentage, the best in the NBA during that span. Still, the Bucks have won just one playoff series since the franchise’s NBA championship in 2021, and Antetokounmpo has stated repeatedly that he desires to win multiple titles in his career.
“Me not having a second championship — I look back at my career and everybody can say, ‘Oh, incredible career, active Hall of Famer, first ballot, whatever.’ But me, my personal goal, if I am not able to help my team win a second ring, I’m letting down myself,” Antetokounmpo said during an appearance with his brother, Thanasis Antetokounmpo, last month on the “Thanalysis Show” podcast.
Giannis Antetokounmpo, 30, was drafted by Milwaukee in 2013 and has spent his entire 12-season career with the franchise, collecting a plethora of awards along the way, including Finals MVP, Defensive Player of the Year, Most Improved Player of the Year and nine All-Star appearances.
He has signed a maximum extension to remain in Milwaukee twice when his long-term future has been in question — a supermax contract in 2020 and again in 2023 — and remains under contract until the 2026-27 season, with a $62.8 million player option for 2027-28.
But this summer sets up a potential crossroads in his career in Milwaukee, which, after nine consecutive playoff appearances and two major trades for point guards, finds its resources depleted. Internally, the Bucks believe they have more functionality than they have had in years because they have exceptions in free agency and a draft pick to trade.
After being promoted to Bucks general manager in the summer of 2017, Jon Horst made a series of acquisitions that catapulted the franchise 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 P.J. Tucker over the course of three years.
Horst has also shown an incredible ability for making major deals ahead of the most critical juncture for these Bucks — when the team’s talent level to compete for a title waned and when it had uncertainty with Antetokounmpo’s contract decisions hanging in the balance: Milwaukee traded for Jrue Holiday in the 2020 offseason, leading to Antetokounmpo’s first extension and ultimately the championship. Then in 2023, Horst acquired superstar Damian Lillard from the Portland Trail Blazers and secured another extension from Antetokounmpo.
This offseason, however, represents incredible challenges to the Bucks’ ability to elevate the roster due to lacking high-valued tradable contracts, having a limited number of picks due to those acquisitions, and dealing with top-heavy salaries.
Milwaukee has 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 in jeopardy after he tore his left Achilles tendon during Game 4 against Indiana. Lillard will turn 35 in July and is owed $113 million in the next two seasons. Lopez, Portis (player option), Taurean Prince, Kevin Porter Jr. (player option) and Gary Trent Jr. all could become free agents this summer.
Pat Connaughton also has until June 24 to opt into his $9.4 million contract for next season. Antetokounmpo, Lillard and Kuzma would earn $130 million of the team’s $164 million payroll next season.
The Bucks also have an inability to trade multiple first-round picks as the next first-rounder they hold is six years from now in 2031. They can currently move either their 2031 or 2032 first-round pick.
The trade for Kuzma at the deadline allowed Milwaukee to get under the restrictive second apron of the collective bargaining agreement, which could prove important this summer as the team evaluates its options.
The Bucks are $23 million below the luxury tax, and $41 million beneath the second apron, without Lopez. If Milwaukee re-signs the 37-year-old big man, uses its $14.1 million non-tax midlevel exception and then fills out the roster, the Bucks would become a luxury tax team for a sixth consecutive season. Since 2019-20, Milwaukee has spent $220 million in tax penalties, but ownership will need to consider whether it makes sense to continue digging deep into taxes next season with a limited roster.
ESPN’s Jamal Collier and Bobby Marks contributed to this report.
