According to sources, the Milwaukee Bucks are releasing guard Damian Lillard and will stretch the remaining $113 million of his contract. This move clears cap space to sign free agent center Myles Turner, with the deal announced Tuesday.
Sources report that Turner has agreed to a four-year contract with Milwaukee worth $107 million. The agreement includes a player option for the fourth year (2028-29) and a full 15% trade kicker.
This marks the end of Lillard`s two seasons with the Bucks. The seven-time All-NBA guard is currently recovering from surgery in early May for a torn Achilles tendon.
Lillard reportedly welcomed the release on Tuesday. He will receive the full $113 million owed, can focus on rehabilitation in Portland close to his family, and has the freedom to choose his next team when ready.
Waiving Lillard before August 29 allows the Bucks to utilize the CBA`s `stretch provision`, preserving their future draft picks. For salary cap calculation, his remaining two years can be spread over five years, resulting in an annual payment of $22.5 million. The stretched amount cannot exceed 15% of the current salary cap ($23.197 million).
Turner, who spent 10 seasons as the longest-tenured Pacers player, had expressed a desire to stay in Indiana. Following the Pacers` Game 7 loss in the NBA Finals against the Oklahoma City Thunder, Turner`s representatives sought a contract extension. However, Indiana`s reluctance to incur the luxury tax, exacerbated by star guard Tyrese Haliburton`s torn Achilles injury during the Finals, ultimately paved the way for the Bucks to acquire their new center.
The 29-year-old Turner was a key contributor to the Pacers` success, known for his ability to space the floor and protect the rim. This past season, the 6-foot-11 center achieved a career-high 3-point percentage of 39.6%, averaging 15.6 points, 6.5 rebounds, and a team-leading 2.0 blocks per game.
During the Pacers` postseason run, he recorded a team-record 46 blocks.
Turner joins Brook Lopez and Rasheed Wallace as one of only three players in NBA history to record at least 700 3-pointers and 1,400 blocks.
In a quiet early free agency market, Bucks general manager Jon Horst and CAA co-head of basketball Austin Brown collaborated to execute a complex, significant deal aimed at reshaping the Milwaukee roster and enabling the franchise to aggressively retool around Giannis Antetokounmpo.
Sources also reported that Milwaukee traded guard Pat Connaughton and two future second-round picks (2031, 2032) to the Charlotte Hornets for guard Vasilije Micic on Tuesday. Last season, Connaughton averaged 5.3 points and 2.7 rebounds, while Micic averaged 6.6 points, 2.2 rebounds, and 3.1 assists per game for the Hornets.
The Bucks also finalized a two-year deal to keep free agent Jericho Sims on Tuesday, sources indicated. This agreement includes a player option for the second year. Sims, known as a lob threat, appeared in a career-high 53 games last season and participated in all five playoff contests.
This offseason, the Bucks have also agreed to re-sign Bobby Portis and brought back Gary Trent Jr., Taurean Prince, and Kevin Porter Jr. However, they lost Brook Lopez, who signed with the LA Clippers.
In another transaction on Tuesday, the Bucks reached a two-year agreement with free agent forward Gary Harris, including a player option for the second year, sources said. The veteran wing previously played significant rotation minutes for playoff teams in Denver and Orlando, and averaged 3.0 points and 1.3 rebounds for the Magic last season.
The Bucks had an interest in Turner but were initially constrained by salary cap limitations preventing his signing. However, Horst and Brown held discussions on Monday and Tuesday to find a solution and create the necessary cap space.
Sources indicated that both Turner and Antetokounmpo appreciated the prospect of playing together during the negotiation process.
This represents another significant move by Milwaukee`s front office amidst ongoing consideration by Antetokounmpo regarding his future with the team and whether it remains his best fit.
This follows previous major acquisitions under Horst: Jrue Holiday via a blockbuster trade in 2020 and Damian Lillard in a three-team deal in 2023. Acquiring Turner now demonstrates a continued commitment to building an Eastern Conference contender around Antetokounmpo during his prime, while also weakening a conference rival.
Lillard, who will turn 35 on July 15, became a key locker room leader alongside Antetokounmpo. In his second season with Milwaukee, he played 58 games and was named an All-Star for the ninth time. He was more efficient this past season, ranking 10th league-wide in scoring (24.9) and assists (7.1), shooting 45% overall (38% from three).
He left the game midway through the first quarter of the Bucks` Game 4 first-round playoff loss against the Pacers due to injury.
Lillard previously played 11 seasons for the Trail Blazers, earning seven All-Star selections and seven All-NBA team honors. He guided Portland to the playoffs eight times, highlighted by a Western Conference Finals appearance in 2018-19. He holds franchise records for points and 3-pointers made, and ranks second in assists.
