Greek superstar Giannis Antetokounmpo sat on the bench, his gaze fixed in a distant stare. During a break in the fourth quarter of Game 4 against the Indiana Pacers, with nine minutes remaining, cameras focused on the Milwaukee Bucks` two-time MVP. It was his first rest period since halftime.
He had played the entire third quarter, scoring 18 points efficiently (5-of-7 from the field, 8-of-9 from the free-throw line). Antetokounmpo also grabbed 8 rebounds and dished out 2 assists, personally contributing to or assisting on 24 of the Bucks` 32 points in that period. Despite his brilliant individual performance, it was ultimately insufficient; Indiana outscored Milwaukee 38-32 in the quarter, extending their lead.
As Antetokounmpo sat with his team trailing by 20 points, his arms resting at his sides and his expression unwavering, the basketball world watched, seeking clues about his thoughts. At 30 years old, still very much in his prime, he posted dominant averages of 33.8 points, 14.3 rebounds, and 5.0 assists with 62% shooting in the series. This marked the first time in three years he was fully healthy for the playoffs. During the regular season, he averaged 30.4 points, 11.9 rebounds, and 6.5 assists over 67 games.
However, injuries once again disrupted the Bucks` postseason hopes. Antetokounmpo witnessed his fellow star, Damian Lillard, fall to the court earlier that night with a torn Achilles tendon, an injury that ended Lillard`s game and season. Several Bucks players later admitted the team felt a significant setback after seeing Lillard suffer such a severe injury, which not only casts doubt on his readiness for the next season but potentially jeopardizes his career at age 34.
Milwaukee went on to lose Game 4 with a final score of 129-103. They had one more game scheduled two days later. Despite Antetokounmpo recording a triple-double in Game 5 on Tuesday night, the Bucks lost again, this time in overtime, 119-118, concluding their season with a third consecutive first-round playoff exit.
Antetokounmpo`s reflections heading into a critical offseason for Milwaukee will have significant consequences for both the franchise and the league. All other considerations pale in comparison. Throughout the season, multiple sources have indicated that Antetokounmpo remains content in Milwaukee, holds deep respect for Lillard, and was satisfied with the progress they made as a duo. They were the NBA`s highest-scoring pair this season, averaging 58.4 points together, and helped the team recover from a slow 2-8 start to win the Emirates NBA Cup in December.
Nonetheless, the Bucks and Antetokounmpo are planning a meeting after the season to discuss both his future and the team`s upcoming plans, as reported by sources. While this is an annual practice, this year`s discussion carries particular weight following a season where the team failed to advance in the playoffs, even with their star delivering a superb individual performance.
Antetokounmpo has consistently stated his ambition to contend for championships during his prime, and the Bucks have structured their decisions around this goal. Yet, the continuous pursuit has come at a high cost, and the margin for error diminishes with each passing year and decision. The quality of the roster surrounding Milwaukee`s superstar has declined since their 2021 NBA championship victory. The Bucks have advanced in only one playoff series since winning the title, and they have now been eliminated in the first round for three consecutive seasons, with the last two losses coming against a rival Pacers team that appears to have surpassed them.
“It doesn`t feel good, man,” Antetokounmpo remarked after Game 5. “It doesn`t feel good. I just got to look myself in the mirror and I just have to be better. I have to be better.”
Injuries have hampered the Bucks in each postseason run since their championship. In 2022, Khris Middleton sprained his MCL in the second game of the first round and was sidelined for the remainder of the playoffs; the Bucks were subsequently eliminated by the Boston Celtics in seven games during the second round. Sources within the Bucks organization maintain that they possessed the superior team that season.
Milwaukee finished the 2023 regular season with the best record in the NBA. However, Antetokounmpo suffered a back injury in Game 1 of the playoffs, forcing him to miss Game 2. Although he returned for the rest of the series, the top-seeded Bucks were upset by the No. 8 seed Miami Heat.
A week before the start of the 2024 playoffs, Antetokounmpo sustained a calf strain and did not participate in the postseason.
In the two seasons since the acquisition of Lillard, a move intended to create potentially the most dynamic duo in basketball, Antetokounmpo and Lillard have played together in just two complete playoff games.
Just under two weeks prior, Antetokounmpo spoke on his brother Thanasis`s podcast, reaffirming his competitive drive.
“Me not having a second championship — I look back at my career and everybody can say, `Oh, incredible career, active Hall of Famer, first ballot, whatever, but me, my personal goal, if I am not able to help my team win a second ring, I`m letting down myself,” Antetokounmpo stated.
This statement offers a glimpse into Antetokounmpo`s mindset, which has driven Milwaukee`s series of high-pressure, high-stakes decisions over the past seven years.
Yet, each instance where Antetokounmpo`s future with the Bucks has been questioned, he has ultimately chosen to remain in Milwaukee. He has signed two contract extensions, including a supermax deal in 2020 and another in 2023, keeping him under contract through the 2027-28 season.
However, after nine consecutive playoff appearances, which ranks as the second-longest active streak among NBA teams, the Bucks face limited avenues to significantly improve the roster. This situation gives rise to a compelling question being debated across the league: If Giannis Antetokounmpo is to win a second championship, will it be while playing for Milwaukee, or somewhere else?
Sitting at the postgame press conference podium, he anticipated the inevitable questions.
“I`m not going to do this,” Antetokounmpo replied. “I`m not going to do that. I know how it`s going to translate. I don`t know, man. I wish I was still playing. I wish I was still competing and going back and working out.”
“I don`t know.”
Developing the pick-and-roll synergy between Antetokounmpo and Lillard was a primary focus for coach Doc Rivers upon taking over the team last January. He would organize the starting five for shootarounds, positioning them for five-on-zero drills while specifically directing his two stars on one side to repeatedly practice actions together.
By this season, such explicit instruction was less necessary. Teammates observed the two initiating direct conversations naturally, openly discussing where and when they preferred the ball and becoming less concerned about infringing on each other`s space.
“Last year it was like everybody saying what we need to do,” Lillard shared earlier this season. “`Oh, we want to see this. They should do this, they should do that.`”
“This year, we just know each other. It`s not forced or it`s not rushed where people are saying what we need to do.”
The trade that brought Lillard to Milwaukee occurred approximately a week before the start of training camp in 2023, a significant roster change that allowed no transition period.
Antetokounmpo and Lillard were instantly paired with potentially the best teammates they had ever played alongside. Despite this, their on-court partnership proved surprisingly awkward in their first season. In 2023-24, they generated 1.14 points per direct pick, a solid but not spectacular output, and a factor that contributed to the dismissal of first-year coach Adrian Griffin, despite the team`s 30-13 record under his leadership. Rivers was brought in, partly due to his track record coaching star players.
“I don`t think anyone wanted to step on any toes early on when they first got here,” Bucks center Brook Lopez commented. “Now you can see they`re working together.”
When the Bucks began the season slowly, Lillard looked to Antetokounmpo for guidance. When the two-time MVP remained composed, Lillard also stayed patient, and the duo subsequently led the team to win the NBA Cup championship in Las Vegas in December.
“[Antetokounmpo is] invested in us as a pair,” Lillard told ESPN in March. “I didn`t think he wasn`t last year, but this year we`ve had so many conversations where it`s like I can see where he`s [like] we got to do this, we got to do that. As opposed to us trying to figure some s— out [individually]. It`s always, it`s what we got to do. It`s a back-and-forth.”
Individually, both Lillard and Antetokounmpo had strong seasons. For the second consecutive year, Antetokounmpo averaged over 30 points, 12 rebounds, and 6 assists while shooting 60% from the field. Lillard averaged 24.9 points and 7.1 assists, shooting 45% overall and 38% from three-point range, despite being limited to 58 games, the second-lowest total in his career.
While their improved chemistry was evident, the hoped-for unstoppable pick-and-roll dynamic never fully materialized. Instead, Lillard and Antetokounmpo`s performance in direct pick-and-roll plays remained nearly identical and quite average at 1.11 points per possession. The team`s net efficiency when they shared the court was +4.7, considered modest for a duo of their caliber.
“It`s just so much better, but I still think it should be better,” Rivers stated on March 20 before a game against the Lakers. “We don`t get in enough of them, but we`ve really been stressing that over the last three or four weeks.”
Lillard was unavailable for that game, listed with a calf injury. He had reported discomfort to the team`s medical staff, which Rivers noted seemed unusual as Lillard exhibited no physical symptoms. While Lillard rested, the medical team decided to perform an MRI for further assessment.
The MRI results revealed deep vein thrombosis in Lillard`s calf, a blood clot that ended his regular season. Lillard missed the team`s final 14 regular-season games and Game 1 of the playoffs.
“In a lot of ways you can make a case that was lifesaving,” Rivers commented on a March podcast appearance.
The Bucks celebrated Lillard`s return over a month later as remarkably swift. He gave his best effort in two full games back, averaging 7.0 points and 4.7 assists over three appearances, shooting a poor 6-of-27 overall (3-for-16 from three) before suffering the torn Achilles in Game 4. This injury has put the franchise`s future and Lillard`s career in serious question.
“I have so much respect for him,” Antetokounmpo said after Game 4. “Dealing with what he was dealing with the whole year. Finding out about his calf and then staying in shape, fighting through, spending extra hours, working on his body, working on his game, being able to come back in Game 2. Game 3, he helped us win the game. But not just that, he`s been so vocal. He`ll watch film, pulls everybody together.”
“I always had respect for him before we became teammates, but now my respect level is much higher.”
Meanwhile, Rivers, brought in specifically to maximize the performance of the two stars, holds a record of 65-53 (.551) over two seasons as head coach, without achieving any playoff series victories during that time.
“I would love this team full,” Rivers said after Tuesday`s game. “I really do. I would love this team where Dame was healthy and all that, but that wasn`t in the cards this year. What was in the cards was we found a lot of players through the year because of all the adversity that we had. `AJ Green came out of nowhere, and he`s a sensational player. Gary Trent Jr. has proven that he`s not only just a solid NBA player, but better than that. Bobby [Portis] playing heavy minutes at the five. Jericho [Sims] — another guy that we picked up and he turned out to be a force.”
“[Kevin Porter Jr.] is going to be solid for us. He`s proven that he`s an NBA player, and Kuz, who didn`t have a great series, will help us. We never got him into the position where he could have been more successful. We will do that and he will be a successful player for us moving forward.”
Antetokounmpo expressed support for the second-year coach, who is his fourth head coach in 12 seasons with Milwaukee.
“I love Doc,” he said. “He`s a great, great human being. Great dude, knows how to up your spirit, knows always the right thing to say at the right moment. I love him, man. Not only as a coach, but as a person.”
During their playoff series against the Pacers, the Bucks announced a contract extension for general manager Jon Horst, confirming his leadership position as the team approaches a pivotal summer.
Horst`s previous contract was set to expire this summer. The team was reportedly motivated to retain him, particularly after they prevented him from interviewing for the head of basketball operations position with the Detroit Pistons when it was available last summer, according to sources.
Milwaukee boasts the league`s second-best regular-season winning percentage (.647, trailing only the Boston Celtics) since Horst assumed the role of general manager in June 2017. Under his tenure, the Bucks have completed 25 trades, as documented, acquiring players such as Eric Bledsoe, George Hill, Nikola Mirotic, Jrue Holiday, P.J. Tucker, Grayson Allen, Serge Ibaka, Jae Crowder, Lillard, and most recently, Kyle Kuzma. These transactions have cost Milwaukee seven first-round draft picks, three years of pick swaps, and 18 second-rounders. Their first-round pick for this season was sent away in the 2020 trade for Holiday. Holiday has since been traded again (as part of the deal to acquire Lillard) and won a championship with the Boston Celtics. He won more playoff series last season with Boston than Milwaukee has participated in over the past three seasons combined.
The next first-round draft pick under the Bucks` control is scheduled for six years from now, in 2031. Sources indicated that Milwaukee was unwilling to include this pick in trade discussions at the most recent deadline.
While holding onto the 2031 pick might be a sensible long-term strategy, it limited the Bucks` ability to make significant roster upgrades at the deadline, despite inquiring about several former All-Stars throughout the season, including Zach LaVine before his trade from Chicago, according to sources. The team ultimately acquired Kuzma, a player who won a championship with the Los Angeles Lakers in 2020, from the Washington Wizards in a move that involved trading away franchise veteran Khris Middleton.
Middleton`s availability had been inconsistent in recent seasons; he played in only 37 games this season, including 14 games after the deadline for the rebuilding Wizards. In addition to Kuzma`s perceived reliability, Horst also praised him as a player capable of helping elevate the team`s top two stars.
“It`s more about how do we make the top two guys their best selves,” Horst stated after the deadline in February. “And how does everyone else play their role around them.”
However, Kuzma proved to be a detrimental presence on the court during the playoffs. In Game 1, he became the sixth player in NBA history to log at least 20 minutes in a playoff game without recording any points, rebounds, assists, steals, or blocks. His performance did not improve throughout the series. By Game 3, his minutes had been reduced to less than 20 per game. In the series, he averaged 5.8 points, 2.2 rebounds, and 0.8 assists, shooting 34.3% overall (1-of-10 from three-point range) and was benched in Game 5. His poor shooting frequently hindered the Bucks` offensive flow. Kuzma finished the season shooting 30.7% from beyond the arc, ranking fourth worst among qualified players.
In the trade package for Kuzma, the Bucks also sent away AJ Johnson, the No. 23 pick in the 2024 draft. The 20-year-old guard demonstrated potential playing for Washington towards the end of the season, scoring a career-high 20 points on March 27. Acquiring and developing such late draft picks is crucial for sustaining a championship-contending window, a strategy the Bucks have not effectively utilized during their recent competitive stretch.
Heading into next season, the Bucks have only four players under guaranteed contracts: Antetokounmpo, Lillard, Kuzma, and seldom-used rookie Tyler Smith. Three additional players—Bobby Portis, Pat Connaughton, and Kevin Porter Jr.—hold player options. If all three exercise their options, the Bucks will already exceed the projected $154.6 million salary cap before even filling the remaining eight roster spots.
Lillard is owed $113 million over the next two seasons, a figure that includes a $63.2 million player option for the 2026-27 season. The trade for Kuzma helped the Bucks navigate under the stricter second apron of the collective bargaining agreement, a point Horst downplayed at the deadline but one that could become significant this summer as the team evaluates its options.
Nevertheless, the disparity between the Bucks and the leading teams in the Eastern Conference has become evident. Milwaukee finished the season with a 0-10 record against the top three seeds in the East. Over the past two seasons, in 19 matchups against the Pacers, the Bucks hold a 7-12 record, including a concerning 3-8 mark in the postseason.
General Manager Jon Horst has consistently made moves in an attempt to capitalize on Antetokounmpo`s prime years. However, teams like the Celtics, Cavaliers, Knicks, Pacers, Pistons, and Magic have either surpassed the Bucks or are poised to do so. As a result, the outlook in Milwaukee appears as challenging as it has been since the team drafted Antetokounmpo in 2013.
