Giannis Antetokounmpo to sign record-breaking extension with Milwaukee Bucks

Exhale, Bucks fans.

Giannis Antetokounmpo, the reigning back-to-back NBA MVP, said Tuesday that he's reupping with the Milwaukee franchise and will stick around for the next five years. The Athletic's Shams Charania reports the extension is a 5-year deal (ESPN's Adrian Wojnarowski adds Antetokounmpo can opt out after the fourth year), and it's projected to be worth around $228 million, though the exact figure will depend on how much the salary cap increases for the 2021-22 season. Either way, it marks the largest contract in NBA history.

Antetokounmpo and the Bucks have enjoyed great success over the past two seasons, finishing with the best record in the league both times, but speculation swirled that the 26-year-old's tenure in Wisconsin was coming to end after the team failed to live up to postseason expectations. Set for free agency after this upcoming season, it seemed like several other franchises, including the Toronto Raptors, Miami Heat, and Dallas Mavericks, were gearing up to make a run at him, but Antetokounmpo put the rumors to rest. "This is my home, this is my city," he tweeted Tuesday, referring to Milwaukee.

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