6:03pm: Yahoo! Sports' Adrian Wojnarowski reports that Ilyasova's five-year offer from the Bucks is worth approximately $40MM. He adds that, while the Nets are considering Ilyasova as a fallback plan if they are unable to trade for Dwight Howard, the Bucks do not appear interested in facilitating a sign-and-trade.
12:00pm: Unrestricted free agent power forward Ersan Ilyasova has a five-year contract offer on the table from the Bucks, tweets Gery Woelfel of the Racine Journal Times. The amount of the offer is unknown, says Woelfel.
HoopsHype.com reported yesterday that Ilyasova is seriously considering a "big offer" from a European club. Ilyasova's agent also told HoopsHype that his client has offers from two more teams overseas, and three NBA teams — the Bucks, Nets, and Raptors. The Nets' offer may be for a sign-and-trade deal, since the club is over the cap and has already committed its mid-level exception to Mirza Teletovic.
Because the Bucks hold Ilaysova's Bird Rights, they are the only team that can make a five-year offer to the 25-year-old. Other clubs are maxed out at four years.