Home » NBA superstar Giannis Antetokoumpo signs $186-million contract extension

NBA superstar Giannis Antetokoumpo signs $186-million contract extension

by Omokolade Ajayi
Giannis Antetokounmpo

In a monumental move for both the Milwaukee Bucks and the NBA, Nigerian-born superstar Giannis Antetokounmpo has signed a three-year, $186-million contract extension with the Milwaukee Bucks, securing his position on the team for the next four years and possibly a fifth.

The three-year extension, which has solidified Antetokounmpo’s stature as one of the world’s highest-earning athletes, is set to bring him approximately $94.4 million over the next two seasons, with an additional $120 million earmarked for the 2025-2026 and 2026-2027 seasons.

Speaking about his commitment to the franchise, Antetokounmpo said: “Milwaukee is where I started my career, it’s our home, it’s where we’re raising our family, and it’s where I’m going to continue to work hard every day to make Bucks fans proud.”

He expressed gratitude to the Bucks’ ownership group, Wes, Jamie, Jimmy, and Dee, for their unwavering support. He also acknowledged Jon Horst, the Bucks’ general manager, as a trusted partner who has stood by him since he arrived in Milwaukee a decade ago.

Giannis Antetokoumpo’s journey in the NBA so far

Antetokounmpo, drafted by the Bucks as the 15th overall pick in the 2013 NBA Draft, has transformed into one of the most decorated players in the NBA’s history. In 2021, he led the Bucks to their first NBA championship since 1971, solidifying his status as one of the game’s elite.

Last season, Antetokounmpo averaged 31.1 points, 11.8 rebounds, and 5.7 assists, earning his place among the select few in NBA history who have achieved more than 30 points, 10 rebounds, and five assists while shooting 50 percent overall in a single season. His extraordinary contributions have consistently propelled the Bucks to success.

As the new NBA season commences, Antetokounmpo is set to continue his magical journey with the Milwaukee Bucks, with the season beginning on Tues., Oct. 24, with the defending champion Denver Nuggets hosting the Los Angeles Lakers, while the Phoenix Suns visit the Golden State Warriors.

Giannis Antetokoumpo to rake in $85.6 million in the 2023-2024 NBA season

With this latest contract extension, Antetokoumpo has cemented his position among the world’s highest-paid athletes.

In the 2023-2024 NBA season, he is poised to accumulate earnings totaling $85.6 million, with $45.6 million originating from his on-court endeavors and $40 million from his off-court pursuits, including endorsements, licensing deals, public appearances, memorabilia, and his entrepreneurial initiatives.

This significant increase in earnings, as compared to the $80.9 million he earned in 2022, underscores Antetokounmpo’s status as a financial powerhouse.

In June, he launched his investment holding company, Ante, Inc., serving as a hub for a diverse range of business endeavors, showcasing his aspirations beyond the basketball court.

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