Shocking news broke on Monday afternoon, Giannis Antetokounmpo's agent informed reporters that Antetokoumpo and the Milwaukee Bucks have agreed to an extension.
"This is my home, this is my city. I’m blessed to be able to be a part of the Milwaukee Bucks for the next 5 years. Let’s make these years count. The show goes on, let’s get it."
Antetokounmpo announced via Twitter.
The two-time NBA MVP will sign a full 5- year supermax extension with Bucks worth 228.2 million dollars, the largest contract in the history of basketball. The contract beats out Russell Westbrook's supermax extension of 208 million dollars that was signed in 2017.
The contract extension will begin at the start of next season. The contract also reportedly includes a player option in the year 2025.
This extension is music to the years of the league as it validates their decision to implement the supermax contract as a part of the CBA that was formed in 2017. Ever since the supermax contract was implemented, it has been a substantial failure for the lack of a better term. The supermax extension was implemented in the hopes of helping small market teams incentivize superstar players to stay by allowing them to offer the player substantially more money. However, due to the already astronomic wealth of superstar NBA players, the supermax was largely ineffective, proven by players like Anthony Davis and Kawhi Leonard declining the extra financial compensation in exchange for the liberty to choose where they want to play. However, with Giannis agreeing to a supermax extension to stay in a small market city like Milwaukee, the league's decision has proven to be successful, potentially preventing a massive handicap for small market teams.
The 26-year-old Antetokounmpo is just the sixth player in history to sign a supermax contract, joining a very exclusive group of players that includes the likes of Stephen Curry, Damian Lillard, James Harden, Russell Westbrook and John Wall. However, Antetokounmpo's journey to this point in his career is vastly different from any other player in this group.
Antetokounmpo's story is the epitome of a cinderella story. Antetokounmpo was born in Athens, Greece to very poor immigrant parents. Giannis's family was so poor that he and his brothers were forced to sell watches, handbags and sunglasses in the street. Growing up in Greece, Giannis went countless days without eating. When Giannis was drafted, he weighed less than 200 pounds. But after 7 years of hard work in the league, Giannis has grown into an MVP, a DPOY and one of the league's best players.
This extension will also drastically change the face of the league. The hopes of Giannis Antetokounmpo potentially declining the offer had teams like the Raptors, Heat and Mavericks clearinghouse in order to preserve cap space and luring Antetokunmpo away from Milwaukee. This will cause drastic changes in the plans of those respective teams, most likely causing them to turn to other improbable free-agents like Kawhi Leonard and Chris Paul.
Most importantly, this makes the Milwaukee Bucks the landslide winner of the 2020 offseason. The Bucks were under immense pressure to please Giannis and they did that via a trade for Jrue Holiday. The move was heavily criticized by the masses because it was a clear overpay for a fringe All-Star. However, that very trade appeared to have moved the needle for Antetokounmpo and assured him that the organization was capable of building a championship team around him, making that very Jrue Holiday trade one of the best in NBA history.
However, this doesn't mean that the Bucks are off the hook. We have seen multiple stars in recent history force their way out of a situation despite signing the supermax contract. In fact, we are watching the James Harden situation unfold right in front of our eyes, and although Giannis doesn't strike me as someone who would force a trade, the Bucks can't afford to gamble on that. This extension does mean that the ball is now in Milwaukee's court and how they execute their possessions could very well shape the future of their organization for decades to come.
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