Report: Bucks waiving Lillard to stretch remaining $113M on contract

The Milwaukee Bucks are waiving guard Damian Lillard, sources told ESPN's Shams Charania.

Milwaukee will stretch the remaining $113 million left on Lillard's contract in order to acquire free-agent center Myles Turner, per Charania.

Stretching Lillard's deal over five years will cost the Bucks $22.5 million annually. It's the biggest waive and stretch in NBA history, according to ESPN's Bobby Marks.

Bucks star Giannis Antetokounmpo is unhappy with the team's decision to part ways with Lillard, sources told basketball insider Chris Haynes.

Meanwhile, Lillard is "elated" since it gives him the opportunity to join a contender without heavily weighing the financial element of his decision, sources told The Athletic's Sam Amick. The nine-time All-Star has reportedly received calls from several teams since the Bucks released him. He still has to decide if he wants to sign with a team and rehabilitate under its care or simply sit out the 2025-26 season.

Lillard tore his Achilles in Milwaukee's first-round series loss to the Indiana Pacers. The Bucks acquired the point guard in a blockbuster 2023 three-team trade with the Portland Trail Blazers and Phoenix Suns that also included Jrue Holiday and Deandre Ayton.

Lillard, who turns 35 in July, averaged 24.9 points and 7.1 assists in 58 games during the 2024-25 season.

He spent 11 seasons with the Trail Blazers after being selected with the sixth overall pick in the 2012 draft. The Weber State product earned seven All-NBA nods during his tenure in Portland.