Giannis Wouldn't Sign New Bucks Contract, Latest NBA Rumors Reveal After Heat Trade

One big reason the Giannis Antetokounmpo era with the Milwaukee Bucks has come to an end is because the club was aware he wasn't going to extend his contract this offseason.

Per The Athletic's Sam Amick and Eric Nehm, Antetokounmpo's representatives "made it clear" to Bucks officials that he wouldn't sign a new deal with the team when he became eligible to extend on Oct. 1:

"Yet, as league sources confirmed late Monday night, after (Bucks general manager Jon) Horst agreed to an Antetokounmpo deal with the Miami Heat for the trade package of which (Milwaukee co-governor Jimmy) Haslam spoke, Bucks officials already knew that there was no Milwaukee future with the 'Greek Freak' in it. Antetokounmpo's representatives, according to two sources, made it clear that the 31-year-old, who had one season left on his contract, would not sign the extension for which he was eligible on Oct. 1."

On Monday night, the Bucks agreed to trade the two-time NBA MVP to the Heat for a package centered around three first-round draft picks, Tyler Herro and Jaime Jaquez Jr. and Kel'el Ware.

Antetokounmpo will be eligible to sign a four-year, $275 million extension with the Heat in January.

There was a lot of focus on Antetokounmpo's contract when he was being shopped around, but most of the attention was on whether or not he would extend with an acquiring team.

The Bucks also had to concern themselves with Antetokounmpo's desire to sign a new deal with them before doing anything. If there was any thought he might extend, they could try talking themselves into building around him.

Even though Antetokounmpo couldn't completely dictate his landing spot, the contract did give him some level of control over the situation. He has one more guaranteed year of his current deal with a $58.5 million salary in 2026-27 and a $62.8 million player option for 2027-28.

A team would seem to be less inclined to give up significant assets if they didn't receive some assurance Antetokounmpo would extend with them.

For instance, the Portland Trail Blazers were mentioned as a potential landing spot, but they had some hesitation about being too aggressive because of his contract.

The one hope that Milwaukee had to retain Antetokounmpo was his loyalty to the franchise, but it became apparent over the course of the 2025-26 season that a divorce was probably in the best interest of both parties.

There were reports at the end of the regular season that everyone within the Bucks organization had grown exhausted by the entire Antetokounmpo saga. He grew frustrated with how the team handled his injury situation by holding him out when he felt healthy enough to play.

By the time the Bucks put a bow on their 32-50 season, the logical outcome for everyone was an Antetokounmpo trade. They were able to get it done right before the draft, giving them an extra lottery pick this year at No. 13 to pair with their own selection at No. 10 overall.

The Heat stepped up to present Milwaukee with an offer it liked to finally land the superstar player they have been chasing since Jimmy Butler was traded to the Golden State Warriors in February 2025.