Giannis says he won’t sign extension with Bucks yet, fueling Heat speculation

Could the Miami Heat target Giannis Antetokounmpo if he decides to leave the Milwaukee Bucks?
Giannis Antetokounmpo has put the Milwaukee Bucks on notice

In an interview with The New York Times published Thursday, the two-time MVP said that he does not plan to sign a contract extension when he becomes eligible next month and that the organization has to prove it will continue to compete for championships before he potentially signs an extension next summer.

“Next summer it would make more sense for both parties. Even then, I don’t know,” Antetokounmpo told The Times. “I would not be the best version of myself if I don’t know that everybody’s on the same page, everybody’s going for a championship, everybody’s going to sacrifice time away from their family like I do. And if I don’t feel that, I’m not signing.”

Antetokounmpo, 28, is entering the third season of a five-year, $228 million extension in 2023-24. His contract includes a player option for $51.9 million after the 2024-25 season, meaning he could become a free agent in the summer of 2025.

The Bucks can offer Antetokounmpo a three-year, $173 million extension beginning Sept. 22, but he stands to make more by signing an extension next summer or entering the open market in 2025. Should Antetokounmpo become an unrestricted free agent at 31 years old, he would be the most sought-after free-agent star since Kevin Durant took meetings with teams in 2016 before ultimately signing with the Golden State Warriors.

The Heat are not projected to have cap space that summer, but could conceivably work out a sign-and-trade for Antetokounmpo should he decide he wants to play in Miami. By then, Jimmy Butler will be 36, but Bam Adebayo will be squarely in his prime entering his age 28 season.

Although much can change, big-market teams like the Lakers, Clippers, Bulls and Nets could have maximum or close-to-max cap space that summer.

In the interview, Antetokounmpo explained that he hopes to remain with the Bucks, but only if the organization remains focused on winning a championship.

"“All my teammates know and the organization knows that I want to win a championship,” he said. “As long as we’re on the same page with that and you show me and we go together to win a championship, I’m all for it. The moment I feel like, ‘Oh, yeah, we’re trying to rebuild’ …“This is my team, and it’s going to forever be my team. I don’t forget people that were there for me and allowed me to be great and to showcase who I am to the world and gave me the platform. But we have to win another one.”"

Since Antetokounmpo and the Bucks won the 2021 NBA Finals, they have failed to reach the Eastern Conference finals in each of the last two seasons. After entering the playoffs as the No. 1 seed in the East, the Bucks lost to the No. 8 seed Miami Heat in the first round in April.

Following their disappointing exit, the Bucks fired coach Mike Budenholzer and hired former Toronto Raptors assistant Adrian Griffin. In the offseason, the Bucks brought back their free agents, re-signing Khris Middleton and Brook Lopez to new contracts.

Milwaukee enters the season among the group of championship favorites, but its core is aging. Lopez (35), Middleton (32) and Jrue Holiday (33) are on the other side of 30, and it’s unclear how much longer Antetokounmpo can lead that group to title contention. They also owe their 2025 and 2027 first-round picks to New Orleans, limiting their ability to trade draft picks for established talent.

Antetokounmpo has expressed in the past that he wants to remain with one franchise his entire career, citing Kobe Bryant and Dirk Nowitzki as examples. He reiterated that to The Times, but also said he would prioritize the chance to win another championship over all else.

“At the end of the day, being a winner, it’s over that goal,” Antetokounmpo said when asked about playing his whole career with one team. “Winning a championship comes first. I don’t want to be 20 years on the same team and don’t win another championship.”

For the Heat, Antetokounmpo would be the ideal star to help transition from the Butler era. The situation is worth monitoring but, with so many variables, acquiring Antetokounmpo is not something they can plan on.