MILWAUKEE — The Milwaukee Bucks reportedly told Giannis Antetokounmpo that they will dip into the luxury tax in order to produce a championship team.
Giannis sat down with Bucks co-owner Mark Lasry Sunday for a three-hour lunch meeting to discuss the future of the Bucks and Giannis' contract, according to ESPN.
During that meeting, Lasry told Giannis that the team will spend big money to build a team around Giannis in an effort to bring a championship title home to Milwaukee.
The two talked about the disappointing end to the 2020 season and brainstormed possible personnel changes for the off-season. This discussion is expected to continue after Giannis returns from vacation, ESPN reports.
Also during the off-season, Giannis will have a decision to make. He can either enter the last year of his contract and become a free agent in 2021 or sign a contract extension with the Bucks.
According to ESPN, the Bucks payroll will be close to the proposed $132.7 million luxury tax threshold for 2020-21. Around 35% of that will likely go towards a five-year contract offer for Giannis worth somewhere between $220 million and $250 million.