The Milwaukee Bucks are waiving Damian Lillard and stretching the remaining $113 million on his contract in order to acquire free agent center Myles Turner, sources told ESPN on Tuesday.
Turner has agreed with the Bucks on a four-year, $107 million deal that includes a player option for Year 4 in 2028-29 and a full 15% trade kicker, sources told ESPN.
Lillard’s two seasons in Milwaukee come to an end as the seven-time All-NBA guard rehabilitates a torn Achilles tendon after undergoing surgery in early May.
Lillard welcomed the release Tuesday and now will receive all of the $113 million owed, will be able to rehab in Portland surrounded by his family, and can choose his next destination on his own time.
By waiving Lillard prior to Aug. 29, the Bucks can use the “stretch provision” in the CBA while leaving their future draft assets untouched. For salary cap purposes, the Bucks can stretch his remaining two years to five — meaning they will pay $22.5 million per year. The stretched salary can’t exceed 15% of the salary cap, which is currently $23.197 million.
Turner, the longest-tenured Pacers player at 10 seasons with the franchise, made it known he wished to remain in Indiana. Since the Pacers’ Game 7 exit in the NBA Finals against the Oklahoma City Thunder, Turner’s reps pushed to get a deal done. Ultimately, Indiana’s aversion to the luxury tax, which grew after star guard Tyrese Haliburton’s torn Achilles injury in the Finals, allowed the Bucks to acquire their new center.
Turner, 29, was a big part of the Pacers’ success as the 6-foot-11 big man can capably space the floor and defend the rim. This season, he shot a career-best 39.6% from 3-point range while averaging 15.6 points, 6.5 rebounds and a team-best 2.0 blocks per game.
He had a team-record 46 blocks during the Pacers’ postseason run.
Turner is one of just three players in NBA history with 700 3-pointers and 1,400 blocks, along with Brook Lopez and Rasheed Wallace.
In a scarce market during the early days of free agency, Bucks general manager Jon Horst and CAA co-head of basketball Austin Brown partnered on executing a complex, massive deal to reshape Milwaukee and allow the franchise to retool aggressively around Giannis Antetokounmpo.
Milwaukee traded guard Pat Connaughton and two of its second-round picks (2031, 2032) to the Charlotte Hornets on Tuesday for guard Vasilije Micic, sources told ESPN. Connaughton averaged 5.3 points and 2.7 rebounds last season, while Micic posted 6.6 points, 2.2 rebounds and 3.1 rebounds per game for the Hornets.
The Bucks on Tuesday also reached a two-year deal to retain free agent Jericho Sims, sources told ESPN. The deal includes a player option in the second season. Sims, a lob-threat big man, played in a career-high 53 games last season and in all five playoff games.
The Bucks also have agreed to re-sign Bobby Portis and brought back sharpshooter Gary Trent Jr., forward Taurean Prince and guard Kevin Porter Jr. this offseason. Milwaukee lost Lopez, who signed with the LA Clippers.
In another move Tuesday, the Bucks agreed to a two-year deal with free agent forward Gary Harris, with a player option on the second season, sources told ESPN. The veteran wing played key rotation roles for playoff teams in Denver and Orlando, and he averaged 3.0 points and 1.3 rebounds for the Magic last season.
The Bucks were interested in Turner but had no pathway to sign him because of their salary restrictions, but Horst and Brown huddled Monday and Tuesday to create an opening.
Turner and Antetokounmpo valued the opportunity to partner on the court during the process, sources told ESPN.
It’s another big move by Milwaukee’s front office, as Antetokounmpo considers his future and whether his best fit is with the Bucks.
In 2020, Horst acquired Jrue Holiday in a blockbuster trade with the New Orleans Pelicans. In 2023, the Bucks in similar fashion acquired Damian Lillard from the Portland Trail Blazers as part of a three-team deal. Now, Horst acquires Turner, showing the commitment to build a contender in the Eastern Conference with Antetokounmpo in his prime — while taking a key player from a fellow East threat.
Lillard, who turns 35 on July 15, emerged as one of the leaders in the locker room alongside Antetokounmpo, playing in 58 games in his second season in Milwaukee while earning his ninth All-Star Game selection. He was more efficient this past season, ranking 10th in the NBA in scoring (24.9) and assists (7.1) while shooting 45% (38% from 3).
He was helped off the court midway through the first quarter of the Bucks’ loss in Game 4 of their first-round playoff series with the Pacers.
Lillard spent 11 seasons with the Trail Blazers, making seven All-Star appearances and seven All-NBA teams. He led Portland to the playoffs eight times, including a Western Conference finals appearance in 2018-19. He ranks first in team history in points and 3-pointers and second in assists.
ESPN Research contributed to this report.
