NOTE: This report is not confirmed. We are publicizing a report from a Greek newspaper that is indicating the Bucks will sign Antetokounmpo to a long-term deal and the rationale behind it.
According to a Greek report, the Milwaukee Bucks will sign Giannis Antetokounmpo to a five-year, max extension worth $145 million (dependent on 2017-18 salary cap) this week. The extension would begin in 2017-18.
The report states the Bucks will sign this deal on July 7, when free agency officially begins. The sources of this are not indicated, but rumors have been swirling the past few weeks that this deal would be done in the first week of free agency.
Antetokounmpo has no injury history and has progressed each season to his level of play this past season. His field goal efficiency, free throw percentage, rebounds, assists, steals, blocks, and points were all career highs in the 2015-16 season.
And of course, he’s only 21 years old.
The report, completely in Greek, has been translated below to the best of our ability.
On April 10, when the Bucks’ season ended, read first in NBA Greece data developed for the Milwaukee team, but also for the new contract to be signed this summer by Giannis Antetokounmpo. Today, we will explain in detail the terms of the emerging agreement between the two sides in order to understand why the 21 year old forward will become one of the most well-paid in the NBA.
First, hold the edge of your mind that Giannis will play the 2016-2017 season for just under three million US dollars, for $2,995,421, to be precise. The group has activated the option for the fourth year of his rookie contract, as it was entitled to do and now will try to the “anchor” until the summer of 2022.
We have explained how Antetokounmpo will take (every indication) an amount equal to that of Anthony Davis of the New Orleans Pelicans: $145 million for five years. Below we explain how we got to this money and why the Bucks chose to give to him and not to Jabari Parker in (a) very big contract can offer.
The most important element is that the factors of the Milwaukee team will wear the label of Giannis as the designated player. According to the collective agreement signed in the winter 0f 2011, each franchise has the right to maintain the roster of a designated player, his contract which will be larger than any other in amount and in duration. With this term, Giannis will be able to sign this summer for another five years, with the agreement to start in 2017 and be completed in 2022. This will take the maximum remuneration laid down by regulations.
The first season can receive 25% of the salary cap team and every year will increase 7.5%. Simply put, his salary will start (the period from 2017 to 2018) of the $27 million and the total amount, as we explain on April 10, will reach $145 million. The amount of the first year could reach up to 30% of the salary cap of Bucks if the Derrick Rose Rule applies, but if Giannis does not turn out eligible, as there are no interests in the three top five, as he has not played in two All Star Games and has not become an MVP.
But why the Bucks will choose Giannis as a designated player and not Jabari Parker; that’s easy to give the answer. The Antetokounmpo is clearly higher quality and more all-around player who can become really dominant and one of the top in the league. Besides, has not faced injuries, can play in all positions of the starting five, it is more valuable to the team and in a word, the man who deserves to get the condition, but the contract provided for thereunder.
The Bucks have the right to give a new contract to Giannis until October 31, so they do not let him go on sale in 2017 as a restricted free agent. Anyway discussions are already closely and announcements will come off surprise on July 7, when the moratorium NBA expires and can be shared with all solemnity as agreements either with their free agents, or those renew / extend the groups fighting.
The Antetokounmpo contract (with frightening, chaotic difference from the second) will make him the highest paid Greek athlete of all time, but more importantly it will be worth the money that would give the Milwaukee Bucks a franchise player. He has worked hard, has made three excellent seasons, three seasons much better than we all waited and if you want our opinion, in three years, he may be one of the two or three top players in the NBA. The summer of 2022 will be his first year as a free agency, as he will still be just 27 years old and will get another multi-year agreement that will put him in the richest NBA players in the history of the league.