According to ESPN’s Adrian Wojnarowski, Giannis Antetokounmpo and Milwaukee reached a new three-year, $186 million deal agreement on Monday. According to Wojnarowski, the agreement contains a player option for the 2027–2028 campaign.

Wojnarowski Adrian (adrian@wojespn)

After discussing the specifics of the max extension at a Sunday meeting in Chicago between Antetokounmpo’s agent, Alex Saratsis of Octagon, and Bucks general manager Jon Horst, the two-time MVP sealed the deal today, sources tell ESPN. Giannis had until tonight at 11:59 PM ET to seal the transaction.

Antetokounmpo celebrated the extension on social media.

His previous contract had a $51.9 million player option for the 2025–2026 season and ran through the 2024–2025 season. But after the top-seeded Bucks’ unexpected first-round loss to the Miami Heat in the 2023 playoffs, his long-term fate with the team came under scrutiny.

At the time, ESPN’s Brian Windhorst stated, “I think it is doubtful Giannis extends his deal this summer.” “With a superstar in his 20s, they are a late-stage contender, and clubs in this league are keeping a close eye on the Bucks this summer.”

The remarks were especially noteworthy because they were made before an offseason in which the Bucks may have had up to 11 free agents, including Brook Lopez and Khris Middleton (player option), depending on how things worked out.

Notably, Milwaukee extended the contracts of Middleton and Lopez.

After the Miami loss, where he failed to find a response for Jimmy Butler and failed to call a timeout in the closing seconds of regulation or overtime in the decisive Game 5 loss, head coach Mike Budenholzer’s job security was also called into question.

After the loss, Milwaukee chose to terminate him.

The most significant change may have occurred when Antetokounmpo stated on the 48 Minutes podcast in September 2023 that “if there’s a better situation for me to win the Larry O’Brien, I have to take that better situation”: