Hoops Rumors examines the 2026 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures and more. We’ll take a look at each team’s offseason action and take a look at what else could happen before the regular season begins. Today we focus on Milwaukee Bucks.
Signing free agents
- Gary Trent Jr: Four years, $64,000,000. Full warranty. Rewritten using the rights of Bird.
- Usman Dieng: Three years, $17,250,000. Third-year team option. Rewritten using the rights of Bird.
- Pete Nance: Two years, minimum wage. Not guaranteed. Rewritten using the minimum wage exemption. They gave up the right of veto on trade.
- John Butler Jr: Year, minimum wage. Not guaranteed (app. 9/10). Signed using the minimum wage exemption.
Trades
- Acquired rights to the project Malik Lewis (pick #60) from the Wizards in a three-team trade for cash ($1.25 million; to the Magic).
- Purchased Tyler Herro, Kel’el Ware, Jaime Haques Jr, Kaspar Yakuchonisdraft rights to Nate Ament (Pick #13), the Heat’s 2031 first-round pick, the Heat’s 2033 first-round pick, the Heat’s 2033 second-round pick and the right to trade 2030 of the Heat’s first-round picks in exchange for Janice Antecumba and Bobby Portis.
- Purchased Karis Leverta 2027 Bucks second-round pick and a Mavericks or Nets second-round pick (whichever is the least favorable) from the Pistons and cash ($1.1 million) from the Clippers in a six-team trade in exchange for Taurian prince (to the Pistons) and Gary Harris (Pistons).
Drafts
- 1-10: Braden Burris
- Signed rookie contract (four years, $29,213,493). The first two years with a guarantee. Third and fourth year team options.
- 1-13: Nate Ament
- Signed rookie contract (four years, $25,980,074). The first two years with a guarantee. Third and fourth year team options.
- 2-60: Malik Lewis
Two-sided signatures
Note: Bucks have been moved Cormac Ryan under a bilateral contract from 2025/26.
Abandoned/Unsigned Free Agents
Other moves are listed
- Signed 2025 second round pick Bogoliub Markavich to a four-year, $9,264,648 contract with the exception of a second-round pick. The second year is partially guaranteed ($1,147,185). Third year without warranty. Fourth-year team option.
Salary cap situation
Note: Numbers are rounded to one decimal place.
- Operating above the cap ($165 million) and below the first tax bracket ($209 million).
- A hard hat on the first apron.
- Team salary: $190.3 million (tax); $195.1 million (apron).
- Below the luxury tax line by $10.1 million; below the $13.9 million hard cap.
- A full exemption for middle-level nontaxpayers ($15 million) and a full biennial exemption ($5.1 million) are available.
- Two tradeable player exceptions are available (the largest is $25.5 million).
Offseason yet
Games, minutes played, field goals, points, rebounds, assists, blocks, triple-doubles. It is among many categories in which Janice Antecumba is the Bucks’ all-time leading scorer.
After being selected 15th overall in the 2013 draft, Antecumpo became one of the greatest players in NBA history during 13 seasons in Milwaukee, winning MVP awards in 2019 and 2020 and helping the team win its first championship in 50 years in 2021.
However, the Bucks failed to recapture that postseason success in subsequent years, losing in the second round to Boston in 2022 and then three straight first-round exits until the 2025 offseason.
Milwaukee according to reports discussed a possible trade for Antetokounmpo with New York last summer, but those talks never progressed and the team retained the 31-year-old through the 2025/26 season. A series of injuries derailed Antetokounmpo’s season, and despite rampant speculation ahead of the February trade deadline, the Bucks once again kept the superstar forward heading into the offseason.
The relationship between the Bucks and Antetokounmpo began to show more serious signs of deterioration in the final months of the season. Superstar forward bristled while the co-owner Wes Edens said ESPN the club intended to either extend or trade him, then clashed with the organization over its handling of his knee injury — Giannis felt he was healthy enough to return to action and the Bucks disagreed, prompting the NBA to investigate the case (the team was ultimately cleared of any wrongdoing).
With Antetokounmpo set to enter the final guaranteed year of his current contract, it was clear after Milwaukee’s season ended that a decision would come sooner rather than later. Janice according to reports conveyed to the team that, in his opinion, it was in the best interests of both parties to go their separate ways, and another co-owner of the Bucks, Jimmy Haslam, stated in May that the club viewed the draft as an unofficial deadline to address the situation. Of course, Milwaukee completed a trade agreement with Heat less than 24 hours before the start of the first round; It was a blockbuster deal formally completed July 6.
In exchange for Antetokounmpo and a veteran big man Bobby Portisanother fan favorite, got Milwaukee Tyler Herro, Kel’el Ware, Jaime Haques Jr, Kaspar Yakuchonisdraft rights to Nate Ament (Pick #13), the Heat’s unprotected first-round picks in 2031 and 2033, Miami’s second-round pick in 2033 and the right to trade a 2030 first-round pick to the Heat.
Ament (via Miami) was the second player drafted by the Bucks in June, the former Arizona guard being the first Braden Burrisone of the standouts of the Las Vegas Summer League in July. Added and forward Malik Lewis with the final pick of the second round — will continue his career in Australia.
Bucks continued to accumulate assets in a trading six teams in which they sent Taurian prince and Gary Harris to Detroit for Karis Levert and two second-round picks. They also received $1.1 million in cash in that deal from the Clippers, nearly the same amount they sent ($1.25 million) to acquire Lewis with the 60th pick in a separate deal.
Milwaukee entered the offseason with several free agents. The team made a stunning re-signing Gary Trent Jr to a four-year, $64 million contract after a disappointing season that forced a league investigation in the suspicious circumstances of this transaction. The Bucks also returned a trade deadline acquisition Usman Dieng to a three-year, $17.25 million deal and re-signed Pete Nance on a two-year, non-guaranteed minimum wage contract.
Other additions included 2025 of the second round Bogoliub Markavich for a four-year standard contract; Cam Jones on a bilateral transaction; and John Butler on the training camp agreement.
Antetokounmpo’s elder brother Thanasis Antecumpa and his younger brother Alex Antecumpo were on the roster last season, but they are returning to Greece to continue their careers. Participant of the second round of 2023 Andre Jackson Jr is another departure, agreeing to an Exhibit 10 deal with Toronto.
Finally, it should be noted that Bucks parted ways with Doc Rivers this offseason by hiring Taylor Jenkins to become their new head coach. Jenkins, formerly the Memphis head coach, is a former Bucks assistant.
Next
The Bucks are severely limited on their first tax return and are currently $13.9 million below that threshold. They are also $10.1 million below the luxury tax threshold.
Both of those numbers are worth keeping in mind as the Bucks have a few exceptions to make the next moves on the roster. They still have their full non-tax payer medium level ($15 million) and once every two years ($5.1M) plus two exceptions available traded player waivers. The first TPE is only worth $86k and can’t really be used, but the second one, which was created as part of the Antetokounmpo deal, is worth a whopping $25.5 million.
Although Milwaukee has an open two-way spot, the roster is crowded at the moment. Even if the Bucks give up Nance and Butler, they still figure they’ll have to cut a player who should be guaranteed money if they can’t find a consolidation deal before the season starts. Jericho Sims or LeVert could end up being the odd man out if no additional moves are made.
Herro (veteran) and Haques (rookie) are the main candidates to expand the team. Ayrault, who is a 2025 All-Star, will be eligible to extend through the entire 2026/27 league season, while the extension window for Jaquez closes on October 19.
For what it’s worth, Milwaukee native Ero has publicly stated that he “I’m not really worried» about the new deal.
I’d be a little surprised if the Bucks extended both players this offseason, because that could make it difficult to trade them. They’re both valuable in different ways, but it’s hard to know how the team feels about them and whether they’re part of the club’s long-term plans.
That’s true for most of Milwaukee’s roster with the exception of Barris and Ament. it is possible Ryan Rollins also belongs to that small group of goalies, but I’m not sure he will — or should — be off the table if the Bucks are blown away by a trade offer.
I’m sure the Bucks would love to ditch the contracts Miles Turner and Kyle Kuzmabut Turner still has three years left on his deal, and Kuzma likely has negative value even if he’s on contract.
$90 million in debt Damian Lillard over the next four years and the $64 million owed to Trent over that same span will make it a bit more difficult for the Bucks to speed up their rebuild in the coming seasons. However, they added much-needed young talent and draft assets by trading Antetokounmpo and will be on a completely different path after consistently making winning moves over the past few years.
Luke Adams contributed to this article.
