Windhorst: Giannis Contract Extension 'Unlikely' After Bucks' 1st-Round Loss vs. Heat

Star forward Giannis Antetokounmpo's future with the Milwaukee Bucks is once again in question following their shocking first-round loss to the No. 8 seed Miami Heat.

"I think it is unlikely Giannis extends his contract this summer," ESPN's Brian Windhorst said Thursday on NBA Today. "... They are a late-stage contender with a superstar in his 20s, and there are teams in this league watching very closely to see what happens with the Bucks this summer."

The 2020-21 NBA champions will be forced to reevaluate their roster this offseason, as both forward Khris Middleton and center Brook Lopez could become unrestricted free agents.

Antetokounmpo inked a five-year supermax contract with the Bucks in December 2020. He is guaranteed to be under contract through 2024-25 and has a player option for the following season, per Spotrac.

With the cap projected to rise and extensions maxing out at five years, Antetokounmpo stands to make more money on a longer deal by waiting until next season, when he will only have fewer years remaining on his contract, to sign.

Additionally, with as many as 11 pending free agents, Bucks have other questions to tackle this season before they can get to the extension. Lopez, Jae Crowder and Joe Ingles are set to become unrestricted free agents, while Middleton can join them by declining his $40.4 million player option for the 2023-24 season.

"(The Bucks) were facing a very difficult situation this summer even if they had won the title," Windhorst said.

Jimmy and Dee Haslam, who purchased a minority share of the team in April, further complicate matters, Windhorst added.

After Milwaukee became the sixth No. 1 seed to lose to a No. 8 seed in NBA history, Antetokounmpo pushed back on a question about whether the Bucks' season was a failure.

"You work towards a goal. It's not a failure. It's steps to success," Antetokounmpo told reporters after the Game 5 loss on Wednesday. "... There's always steps to it. Michael Jordan played 15 years, won six championships. The other nine years was a failure? That's what you're telling me?"

The Bucks don't necessarily need to blow their roster apart this summer, but they do need to retain a few key pieces of their 2021 championship team, particularly Middleton and Lopez. With $94.2 million already committed to Antetokounmpo, Jrue Holiday and Bobby Portis next year, the Bucks will also need to be mindful of new financial restrictions in the upcoming collective bargaining agreement.

Those decisions will likely take priority over the Antetokounmpo extension for now.