Many thought it would be Giannis Antetokounmpo who might get traded out of the Milwaukee Bucks. However, in a surprising move, the Bucks have opted to waive guard Damian Lillard and use the stretch provision before the August 29 deadline.
NBA analyst Bobby Marks shared the development on the Bucks' part.
Under the NBA’s Collective Bargaining Agreement, the long-term contract remaining on a waived player can be spread over twice the remaining years, plus one.
For Lillard, that means the two years remaining on his contract can be stretched over five years, roughly $22.5 million per season in cap hit.
It's the largest waive and stretch in NBA history.
— Bobby Marks (@BobbyMarks42) July 1, 2025
MORE: Why the Bucks made shocking decision to waive Damian Lillard
By waiving and stretching, the Bucks can chop Lillard’s big cap hit ($56 million) into smaller, manageable chunks ($22.5 million annually), freeing significant usable space this summer and in the near future.
Without stretching, the Bucks would have been $30 million over the 2025–26 salary cap. This move gave Bucks the room to go for roster upgrades like signing Myles Turner to a four-year, $107 million deal and potentially re-signing other players like Gary Trent Jr. and Kevin Porter Jr. using the $14.1 million full Mid-Level Exception.
Lillard suffered a torn Achilles in April and will be on the injured list for a long time.
MORE: Giannis Antetokounmpo reportedly not happy with Damian Lillard decision
Damian Lillard contract
Lillard signed a two-year extension with the Bucks in 2022, keeping him under contract through 2026-27. He was due to make over $50 million in both 2025-26 and 2026-27.
| Season | Salary |
| 2025-26 | $54,126,450 |
| 2026-27 | $58,456,566 |
The Bucks will now pay Lillard an average of $22.5 million per season until 2029-30.
| Season | Salary |
| 2025-26 | $22,516,603 |
| 2026-27 | $22,516,603 |
| 2027-28 | $22,516,603 |
| 2028-29 | $22,516,603 |
| 2029-30 | $22,516,603 |
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