Milwaukee Bucks 2023 Free Agency Day 1 Recap: Signings, Rumors, etc

The Milwaukee Bucks made significant moves on the first day of 2023 free agency, highlighted by the successful re-signing of Khris Middleton.

Inking a lucrative three-year, $102 million contract, including a player option for the third year, Middleton’s deal coincides perfectly with Giannis Antetokounmpo’s contract timeline. The duo’s commitment to each other sets a promising foundation for future success.

Middleton, who previously opted out of his player option for $40.4 million in 2023-24, is coming off the worst season of his career. He struggled with injuries dating back to last year’s playoffs and missed most of the regular season. Determined to regain his form, Middleton underwent additional knee surgery during the offseason.

The Milwaukee Bucks had a busy first day of 2023 free agency, able to retain a key free agent while losing two role players.

His decision to decline his player option was merely a formality, as his loyalty to the Bucks was unwavering. Notably, he played a crucial role in the franchise’s head coach selection process, joining Antetokounmpo for dinner with Adrian Griffin before his hiring was finalized.

While the exact pay structure remains unofficial, a breakdown is anticipated as follows:

• 2023-24: $31.5 million (23.14 percent of league cap)
• 2024-25: $34 million (22.73 percent of league cap)
• 2025-26 (Player Option): $36.5 million (22.19 percent of league cap)

These figures highlight the team’s commitment to Middleton’s contributions and signify their confidence in his future performance.

While Milwaukee succeeded in re-signing Middleton, they encountered departures on Day 1 of free agency, with Joe Ingles opting to sign with the Orlando Magic and Jevon Carter agreeing to join the Chicago Bulls.

Surprisingly, there wasn’t much buzz surrounding Joe Ingles’ future with the Bucks leading up to free agency. So it wasn’t exactly a shocker when the news broke that Ingles was packing his bags and heading to Orlando.

Inking a sweet two-year, $22 million deal with the Magic, it’s understandable that Milwaukee didn’t go all-in to match that offer. I mean, let’s be real, paying Ingles a whopping $11 million per year would have put them in a very tight salary cap position.

Carter, the hardworking hustler we’ve come to admire, has also bid farewell to Cream City. After putting in blood, sweat, and tears, Carter sealed the deal with the Chicago Bulls, snagging a sweet three-year, $19 million contract.

Hey, I won’t lie, it’s tough to see him go, but let’s give credit where credit is due. The man has fought tooth and nail at every level, and this payday is a well-deserved come-up for him.

Surprisingly, Brook Lopez remained unsigned on the first day of free agency.

According to reports, he has received a two-year, $40 million offer from the Houston Rockets. While Milwaukee could match that offer, it would likely push them over the second apron, exceeding their preferred budget. The Bucks are likely hoping for a contract closer to an annual value of around $18 million.

The Bucks find themselves in a holding pattern as they await Lopez’s decision. Whether he chooses to re-sign or explore other opportunities will significantly impact the team’s flexibility for the remainder of free agency. It is expected that Lopez’s decision will be made soon, providing clarity to the Bucks’ plans moving forward.