Bucks Co-Owner Edens: Giannis Will Be Extended Or Traded
The Bucks have no intention of letting Giannis Antetokounmpo play out the final guaranteed year of his contract in 2026/27 and opt for free agency during the 2027 offseason, team co-owner Wes Edens told Ramona Shelburne of ESPN.
“Giannis is going into the last year (of his contract),” Edens said. “So one of two things will happen: Either he will be extended or he’ll be traded. The likelihood you’ll let him just kind of play out the last year, we can’t afford that. It’s not consistent with what’s good for the organization. That’s not a Giannis issue. That’s any player that’s in their last year.”
Antetokounmpo’s contract, which pays him $54.1MM this season, includes a $58.5MM guaranteed salary for ’26/27, followed by a $62.8MM player option for ’27/28. He’ll become eligible on October 1 to sign a four-year, maximum-salary extension that would be worth a projected $275MM (the exact value would depend on where the ’27/28 cap ends up).
However, if Giannis informs the Bucks this offseason that he doesn’t intend to sign that extension once he’s eligible to do so, it sounds like the team is prepared to reopen trade discussions that began in earnest prior to last month’s deadline, even if the two-time MVP doesn’t explicitly request a change of scenery.
[RELATED: Giannis Resisting Bucks’ Plan To Shut Him Down For Season]
Still, according to Shelburne, rival executives and insiders around the league are skeptical about whether the Bucks’ choice will be quite that simple.
As Shelburne explains, the team has an unusual ownership structure that involves the governor title changing hands between co-owners Edens and Jimmy Haslam every five years. In addition to controlling ownership rotating between those two men, another franchise shareholder, Jamie Dinan, is involved in major decisions. The setup has created some confusion among rival teams about who would get the final say in Milwaukee on a roster move as monumental as an Antetokounmpo trade.
“This has nothing to do with Giannis and whether he asks out,” one source told Shelburne. “It’s about who’s making the decision on whether to trade Giannis, and I don’t think anyone knows that. I deal with them all the time and honestly it depends on the day. They’re not even close to being ready to make a decision like that.”
Edens, who will be the controlling owner for two more years before handing the reins to Haslam for five years beginning in 2028, tells ESPN that his partnership with Haslam is “unbelievably good” and that he has no concerns about the arrangement, but Shelburne suggests there have been signs that Haslam’s influence within the organization is growing since he bought Marc Lasry‘s share of the team in 2023.
When longtime Bucks president Peter Feigin left the organization earlier this season, he was replaced by Haslam Sports Group executive Josh Glessing, according to Shelburne, who also hears from sources that one team discussing a potential Giannis trade last month had direct negotiations with Haslam.
“The more time goes on, the more power Jimmy’s going to have,” a source close to the team said. “And long term, it’ s going to be his anyway, so he’s not going to let the guy that’s [passing controlling ownership on] eventually dictate what it looks like.”
“We mostly dealt with (general manager Jon) Horst,” added a rival executive whose team pursued Antetokounmpo. “But our impression was that Jimmy was really the one who would decide this.”
Although Edens insists that he and Haslam are “completely united” on the Giannis situation, other teams and Bucks minority shareholders are keeping a close eye on the situation due to the way in which the relationship between Edens and Lasry fell apart before Lasry sold his stake in the franchise. Notably, Shelburne writes, the two co-owners disagreed on who to hire to replace former GM John Hammond in 2017 — Horst was eventually promoted to fill the role after the team seriously considered its own assistant GM Justin Zanik and Nuggets executive Arturas Karnisovas.
Here are a few more items of interest from Shelburne’s story, which is well worth reading in full:
- Multiple sources told ESPN that the Bucks’ asking price for Antetokounmpo prior to February’s deadline was “enormous,” with one team suggesting that Milwaukee was simply gauging the market and sought “all our draft picks and good young players.” Another rival executive said there was “no question” that the Bucks wanted to hang onto the star forward. “Because it never reached a point in time, in any of our discussions with them, where they said, ‘We will do it if you do X,'” that exec told Shelburne.
- The Warriors made an offer for Giannis that included four unprotected first-round picks, but they never seemed to gain any real momentum toward a deal, sources tell ESPN. According to Shelburne, the Bucks were more interested in pursuing concepts that would net them a young cornerstone like Cavaliers big man Evan Mobley or Sixers guard VJ Edgecombe, though there’s no indication Cleveland or Philadelphia would’ve been willing to discuss those players.
- While the Bucks may be preparing to offer Antetokounmpo another maximum-salary extension during the offseason, multiple league executives believe the club would be better off accepting the best possible trade offer for him, Shelburne writes.“He’s still a game changer, but he’s 31 with a history of leg injuries,” one exec said. “And now you’d basically be trading for a guy on an expiring deal, so I’m not sure the offers they’ll get this summer are going to be better than what they already got.”
Middleton Hopes To Play Long-Term With Bucks
Khris Middleton feels appreciated by the Bucks’ management team and hopes to play in Milwaukee beyond his current deal, he told Michael Scotto of The Athletic. Middleton has two years and $26MM remaining on his contract, with a player option in that final year. During the process in which Mike Budenholzer was hired as head coach, Middleton and Giannis Antetokounmpo were invited to a breakfast with the ex-Hawks coach.
“They want me to be there long-term. They brought it to my attention that they wanted me to be a part of the process,” Middleton said. “That’s a huge thing for me. It makes me feel comfortable. It makes me want to be there longer.”
Some other nuggets from Scotto’s story:
- Budenholzer will emphasize player and ball movement over isolation plays. That should help take some of the scoring burden off of Antetokounmpo and Middleton.
- Co-owner Jamie Dinan is impressed by the way Budenholzer takes responsibility for a team’s success or failure. “He basically said a poor coach blames his players,” Dinan said. “He says, ‘I think I can get the most out of my players, and you’d be amazed at how good, if you motivate people, that they can actually be.’”
- Middleton has toured the team’s new arena, slated to open next season, and gives it a big thumbs up. “It’s top-notch and first class. The locker rooms are amazing,” he said. “I gave Peter Feigin, our president, a little bit of grief about the visiting locker rooms being nice, too. They can’t be this nice in the arena.”
Bucks Notes: Horst, Ownership, Zanik, Ferry
The Bucks’ general manager search, conducted after John Hammond‘s departure for Orlando, appeared to take some unexpected twists and turns throughout the process — the club reportedly narrowed its options to three candidates, then opted to promote Jon Horst, who hadn’t been one of those three finalists.
In an interesting piece for ESPN.com, Brian Windhorst and Zach Lowe detail the machinations behind Horst’s promotion, which caught even Horst himself off guard. Sources tell Windhorst and Lowe that the GM job was already earmarked for him when he was called to New York to meet with team ownership, even before he knew he was viewed as a candidate. The Bucks then began planning Horst’s introductory news conference before he signed his deal.
Here are more of the highlights from ESPN’s report on the Bucks’ unique search:
- Bucks assistant GM Justin Zanik, who has since left the organization, was considered Hammond’s successor when he joined the franchise and had built a good relationship with head coach Jason Kidd. Although his contract didn’t explicitly state he’d replace Hammond, his annual salary reflected an anticipated increase in his decision-making power, per ESPN. However, only two of Milwaukee’s three co-owners were on board with a promotion for Zanik — Wes Edens was the holdout, and wanted to conduct a full-fledged search, according to Windhorst and Lowe.
- After going through their search process, Edens still wasn’t sold on Zanik. He was outnumbered 2-1 by co-owners Marc Lasry and Jamie Dinan, but Edens is technically the Bucks’ designated governor, which gives him unilateral power on all basketball-related decisions if he chooses to wield it, per ESPN.
- The three co-owners had previously agreed to settle all decisions with a vote, but this situation revealed that Edens ultimately could have the final say, even if he was outnumbered. In two years, that will change, however — the Bucks’ ownership agreement calls for the governorship role to alternate between Edens and Lasry every five years, per ESPN.
- With the search for a new GM having stalled, commissioner Adam Silver suggested the Bucks ought to consider Danny Ferry for the opening, according to ESPN. Milwaukee reached out to Ferry, but the two sides never had a formal meeting, with the Bucks’ co-owners opting instead to reach a compromise — they all liked and respected Horst, and brokered an agreement to promote him for the role.
- Horst will be inexpensive compared to other general managers around the NBA. According to Windhorst and Lowe, his three-year deal starts at just $500K.
- The Bucks continue to seek a veteran executive to complement Horst in the front office, though the three co-owners will likely all have to agree to move forward with a hire.
Coaching Rumors: Scott, Thibodeau, Kidd, Brooks
A strong belief exists within the Lakers organization that the team will keep Byron Scott, reports Adrian Wojnarowski of The Vertical, nonetheless revealing that next season is a team option on Scott’s contract. Still, too much discord exists within Lakers ownership for a consensus to form on a coaching change, sources tell Wojnarowski. Primary owner Jeanie Buss is advocating for Scott behind the scenes, and Scott has a “major chance” to remain in his job, one source told Ken Berger of CBSSports.com.
See more coaching rumors around the NBA with the regular season having come to a close:
- Carmelo Anthony would prefer the Knicks hire Tom Thibodeau as coach, a source close to Anthony insisted to Frank Isola of the New York Daily News. Team president Phil Jackson doesn’t seem to have any interest in Thibodeau, as Isola points out, and strong indications exist that Thibodeau is looking for player personnel power as he seeks a coaching job, sources tell Chris Mannix of The Vertical (Twitter link).
- Bucks co-owner Marc Lasry publicly backed coach Jason Kidd on Wednesday in the wake of rumors that Kidd is on shaky ground with the team, as Charles F. Gardner of the Milwaukee Journal Sentinel relays. Lasry said it’s reasonable to assume the team will give Kidd an extension on the three-year, $15MM contract that expires after next season, Gardner notes. Lasry has long been close to Kidd, and it’s the other owners to whom Kidd hasn’t endeared himself, as Gery Woelfel of The Journal Times wrote this week, but Gardner indicates that fellow primary owners Wesley Edens and Jamie Dinan made it clear Wednesday that they also want Kidd to stay. “At the end of the day, Jason is our coach,” Lasry said. “I know there’s been a bunch of articles. We think he’s done a great job. He’s our guy. Everybody who keeps talking about it, it’s a non-issue. I never understand why in this league you have these issues.”
- Rockets interim coach J.B. Bickerstaff and Nets interim coach Tony Brown are unlikely to have their interim tags removed, barring unforeseen events, according to Berger. Rockets candidate Scott Brooks is wary of the uncertainty about whether Dwight Howard will opt out, Berger writes, which suggests that it’s not an open-and-shut case that Howard will opt out as he’s long been expected to do.
Eastern Notes: Bucks, Brown, Pressey
The Pistons have an agreement on a trade with the Celtics, while they join the Pacers and Rockets with interest in taking Chase Budinger off Minnesota’s hands. The trade market is heating up as the start of the regular season draws near, and here’s more on Detroit’s rivals from the Eastern Conference:
- The Bucks quietly added hedge fund manager Jamie Dinan to their ownership team in July, reports Don Walker of the Milwaukee Journal Sentinel. Dinan is a “substantial investor” in the franchise, though it’s not clear if his stake is equal to that of controlling owners Wesley Edens and Marc Lasry. Seven additional new owners have bought shares of the Bucks, the team announced, and one of them is Jon Hammes, who was rumored to be in the running for a minority share this spring. Just how much of the team Hammes and the other new owners purchased is unknown.
- Shannon Brown is indeed a favorite to make the Heat‘s opening-night roster in spite of his non-guaranteed deal, writes Barry Jackson of the Miami Herald. Brown says team president Pat Riley has praised his athleticism, toughness and defense, as Jackson notes.
- Phil Pressey is among a logjam of point guards in Boston with Will Bynum on the way, but Celtics president of basketball operations Danny Ainge calls Pressey one of the team’s best perimeter defenders, as Mark Murphy of the Boston Herald relays.