The Milwaukee Bucks made a surprising decision on Tuesday by waiving Damian Lillard, despite two years and $112.6 million remaining on his contract. Utilizing the NBA’s stretch provision, the Bucks will spread Lillard’s remaining salary over five years, freeing up cap space to sign center Myles Turner to a four-year, $107 million deal, which includes a player option for the final year. This transaction comes shortly after Brook Lopez agreed to a two-year, $18 million contract with the Los Angeles Clippers, leaving a clear void in the Bucks’ lineup.
Lillard, a nine-time All-Star who suffered an Achilles tendon tear during Game 4 of the Bucks’ first-round playoff series against the Indiana Pacers 65 days ago, will soon enter free agency. This move, coupled with signing Turner, signals a major shift in Milwaukee’s roster strategy aimed at maintaining competitiveness in the Eastern Conference.
Understanding the Mechanics Behind the Waive-and-Stretch Provision
The stretch provision is a financial tool NBA teams can use to alleviate short-term salary cap constraints by waiving a player and extending their remaining salary payments over a longer period. Although it provides cap relief, it does not reduce the total amount paid to the player. For the Bucks, this means they will pay Lillard $22.5 million annually through the 2029-30 season, rather than his originally scheduled payments of over $54 million next season and $58 million in 2026-27.
This strategy allows teams to gain immediate salary flexibility but pushes the financial commitment into future years, which can complicate long-term roster building.
Why This Stretch Deal Is Unprecedented in NBA History
The waive-and-stretch action involving Damian Lillard is the largest of its kind ever recorded. Typically, contracts nearing this size are difficult to stretch because the NBA caps stretched salary at 15% of the salary cap in any given year—around $23.2 million for the 2025-26 season. For comparison, the Charlotte Hornets used a similar provision five years ago on Nicolas Batum’s contract, reducing a $27 million payment into $9 million annual payments to manage cap space when signing Gordon Hayward.
Given Lillard’s massive deal was close to the maximum allowable stretch limit, this move marks uncharted territory in NBA contract management, raising questions about future precedents for large contracts like this.
Myles Turner: The Bucks’ Strategic Replacement at Center
Myles Turner’s signing is being framed as a vital component to retool the Bucks’ frontline after Lopez’s departure. Although waiving Lillard provided some salary relief, the Bucks still needed additional cap flexibility to finalize Turner’s deal. To facilitate this, Milwaukee traded Pat Connaughton’s $9.4 million expiring contract and their 2031 and 2032 second-round draft picks to the Charlotte Hornets for Vasilije Micić, who is expected to leave for Euroleague champions Fenerbahçe.
The theory is that Micić may relinquish a significant portion of his salary, allowing the Bucks to waive and stretch his contract as well and absorb Turner’s contract under the cap. Turner is viewed as a rare combination of rim protection and floor spacing, a profile that fits well with Giannis Antetokounmpo’s playing style and makes him a key piece in the Bucks’ future plans.
What Lies Ahead for Damian Lillard?
While Lillard is unlikely to return to play next season due to his injury, he remains an unrestricted free agent with freedom to sign with any team this summer. Before joining Milwaukee in a blockbuster trade two years ago, Lillard had reportedly wanted to be traded to the Miami Heat. The Heat, however, have undergone significant roster changes—including the loss of Jimmy Butler and a recent decline to a 37-45 record—calling into question whether Lillard still views Miami as a viable destination or if the Heat’s timeline matches his entering the 2026-27 season at age 36.
Although this conclusion is a far cry from Lillard’s original vision with the Bucks, he reportedly feels elated about his newfound freedom, as noted by The Athletic, since Milwaukee will continue to pay him regardless of where he signs next.
Evaluating the Bucks’ Decision and Available Alternatives
The Bucks’ move to waive Lillard can partly be explained by the lack of feasible alternatives after his Achilles injury curtailed his trade market. Speculation about a potential swap with Bradley Beal was complicated by Beal’s no-trade clause and the Phoenix Suns’ intent to remain competitive next season. Without making this stretch move, Milwaukee risked limited rim protection after Lopez’s departure, as they plan to re-sign various role players such as Gary Harris, Gary Trent Jr., Taurean Prince, Bobby Portis, Kevin Porter Jr., and Jericho Sims.
The Bucks faced a dilemma: either continue with both Lillard and Lopez, attempt a Lillard trade next summer, or stretch and waive him now to clear space for Turner. With Giannis Antetokounmpo reportedly
considering his future and whether his best fit was with the Bucks moving forward,
according to ESPN, the front office needed reassurance that the 2025-26 season would not be wasted. Turner represents a sensible addition given his skill set complements Antetokounmpo’s, making the gamble on restructuring the roster understandable, if risky.
The High Risks Tied to Milwaukee’s Financial Gamble
This decision involves immense risk, as no NBA team has ever willingly absorbed such a large amount of dead salary. It comes at a time when most franchises are adopting conservative payroll strategies in response to new collective bargaining restrictions. Unlike the Denver Nuggets, who recently made a major trade balancing present success with future flexibility by sacrificing a draft pick, the Bucks’ maneuver trades future financial flexibility for immediate cap space.
While Turner’s addition maintains a similar playing style to Lopez’s, there is no guarantee this will elevate Milwaukee back to championship contention. The Bucks’ 48-34 record last season, combined with their moderate efficiency margin, leaves open questions about whether these moves will produce better results on the court.
The urgency behind this gamble is palpable: if next season disappoints, the Bucks may face an even tougher uphill climb to assemble a competitive roster around Antetokounmpo. The dead money owed to Lillard could hamper ongoing efforts to maintain championship-level talent beyond 2027-28. It appears the Bucks’ leadership may have concluded that doing nothing risked losing Giannis entirely.
Uncertain Future for Giannis Antetokounmpo Amid These Changes
The Bucks’ decision to mortgage their future shows faith that Antetokounmpo will remain with the franchise, yet his personal reaction has been mixed. Chris Haynes reported that Giannis was displeased with how the Lillard waiver was executed and emphasized on NBA TV,
“He just didn’t like how it was handled.”
Additionally, Lillard reportedly learned about the decision publicly, adding to the turmoil.
In contrast, ESPN noted that
“Turner and Antetokounmpo both valued the opportunity to partner on the court during the process.”
Giannis’s only public statement following the moves was a call to retire Brook Lopez’s jersey, avoiding direct commentary on the roster changes.
Despite any public assurances, the Bucks’ trajectory will likely remain under scrutiny. If on-court performance falters, speculation around Antetokounmpo’s future with the Bucks is expected to intensify, with some potential suitors possibly gaining fresh hope of acquiring him.
This series of bold decisions by Milwaukee underscores a clear tension between satisfying their franchise player now and managing the long-term health of the team. Whether this gamble pays off will shape the Bucks’ path forward in the ongoing and highly competitive NBA landscape.