11:26pm: The deal is official, the Bucks announced.
8:05pm: The Bucks have agreed to a deal with the Raptors that will send Greivis Vasquez to Milwaukee, reports Marc J. Spears of Yahoo! Sports (Twitter link). Marc Stein of ESPN.com (on Twitter) reported the sides were close. The Raptors will get the Clippers’ 2017 first-round pick, one that Los Angeles had previously traded to Milwaukee, and the 46th pick in tonight’s draft, Stein adds (Twitter link).
Raptors GM Masai Ujiri seemingly comes away with a coup, netting a lottery-protected first-rounder for his backup point guard. Vasquez goes into the mix with Michael Carter-Williams at the point in Milwaukee. He’s set to make $6.6MM next season in the last year of a two-year, $13MM pact he signed last summer.
Milwaukee’s guaranteed salary for next season will vault to about $41.6MM as a result of the swap, with another $4.25MM perhaps to come if Jared Dudley opts in. That doesn’t count the cap hold for the No. 17 pick. Still, the Bucks will likely have close to max-level cap room to go after reported targets Brook Lopez and Tyson Chandler while keeping Khris Middleton‘s small $2.725MM cap hold on the books before attempting to sign him to a more lucrative pact.
The Raptors also have the ability to chase major targets with only about $42MM in guaranteed salary for next season. Still, they won’t have the ability to use Vasquez, Kevin Durant‘s high school teammate, to recruit the former MVP when he hits free agency next summer.