By Nikos Varlas/ varlas@eurohoops.net
Giannis Antetokounmpo is signing a contract extension with the Milwaukee Bucks. The two-time MVP will sign a five-year, $228.2 million supermax extension with the franchise, the largest deal in NBA history.
The Greek superstar in the next few hours will sign the new contract that will be valid from the summer of 2021 and it includes a player option for the 2025-26 season.
According to the NBA regulations for the supermax contract, the Greek Freak will be paid with 35% of his team’s salary cap for this five-year period with a projected rise of 8% in the earnings of each season and with the current forecasts for the salary cap in the coming years to be a 3% annual increase.
“This is a big moment for me and my family and I want to thank the Bucks organization for believing in us,” said Antetokounmpo. “You took a chance on us eight years ago and now putting my signature on a contract like this is unreal – but it’s all because of hard work. This is my home and I’m going to continue working hard and do my best to make the Bucks, our fans and the city proud. Let’s have fun, win and make these years count.”
“Giannis is a once in a generation player and we are beyond excited for him to remain with the Bucks,” said Bucks Co-Owners Marc Lasry, Wes Edens and Jamie Dinan. “Giannis positively impacts everyone around him on and off the court and he brings a staggering dedication to winning and leadership to our organization. His work ethic and desire to be the best epitomize what the Bucks stand for and what our future holds. We thank Giannis and his family for their long-term commitment to Milwaukee and we look forward to many years of success. This is a momentous day for the Bucks, our fans and the state of Wisconsin.”
“Giannis’ NBA career began as an 18-year old from the Sepolia neighborhood north of Athens, Greece,” Bucks General Manager Jon Horst said. “Through hard work, determination and an unequaled desire to be the best, Giannis has developed into a relentlessly driven, 26-year old, two-time Most Valuable Player, Defensive Player of the Year and four-time All-Star for the Milwaukee Bucks. He’s an incredible teammate, a kind and caring person, an affable member of the Milwaukee community, and the leader of our team who sets the tone for our organization. We are thrilled for Giannis and his family and are tremendously proud to sign him to this well-deserved contract extension.”
Since 2013 and his arrival in the NBA, Giannis has become the face of the Bucks franchise and emerged from an unknown rookie to one of the top players in the world. However, as he recently stated, he is focused on winning and he never wanted to be the only star in the spotlight of his team.
Giannis initially confirmed his decision with the following post on IG