Bucks' Updated Salary-Cap Space After Giannis' Record 5-Year, $228.2M Contract

The Milwaukee Bucks made a huge financial commitment Tuesday by agreeing to sign superstar forward Giannis Antetokounmpo to a five-year contract extension.

Giannis announced the news on Twitter:

Antetokounmpo's agent, Alex Saratsis, confirmed to ESPN's Adrian Wojnarowski that it is a five-year supermax extension worth $228.2 million.

While the extension won't have an impact on the Bucks' salary cap in 2020-21, it will kick in next season when Milwaukee has $142.9 million in cap allocations, per Spotrac.

For this season, Milwaukee's cap number remains at $135.2 million.

According to Kristian Winfield of the New York Daily News, the NBA salary cap will sit at $109 million this upcoming season. Winfield also noted the luxury-tax threshold for the 2020-21 season is $132.6 million, which the Bucks are slightly over for this season and projected to be over next season as well.

The Bucks have 11 players signed through 2021-22. Aside from Giannis, those with the largest financial commitments attached are Khris Middleton ($35.5 million), Brook Lopez ($13.3 million) and Jrue Holiday ($26.7 million player option).

While it remains possible for Milwaukee to shake up its roster next season and beyond, it isn't likely to have any cap space unless it does something drastic.

Because of that, any acquisitions will have to be made via trade or by signing players to exceptions or minimum contracts.

The Bucks made a big move this offseason in an effort to convince Giannis to sign a long-term deal when they acquired Holiday from the New Orleans Pelicans in late November. That was apparently enough for Antetokounmpo to feel confident about the team's direction.

With a core of Giannis, Holiday and Middleton, plus a solid supporting cast, the Bucks remain one of the top contenders to represent the Eastern Conference in the NBA Finals and potentially win a championship.

While $228 million is a big number, Giannis may be more deserving of it than almost any player in the league.

In addition to being the reigning two-time NBA MVP, Giannis is just 26 years old and has gotten progressively better in each of his seven NBA campaigns.

Last season, Giannis averaged 29.5 points, 13.6 rebounds, 5.6 assists, 1.4 three-pointers made, 1.0 block and 1.0 steal per game while shooting 55.3 percent from the field.

Antetokounmpo is a special player with the ability to lead a team to multiple championships with the right supporting cast, and the Bucks are banking on the fact that they have precisely that.