In a massive financial move, the Milwaukee Bucks are waiving Damian Lillard and stretching his remaining $112.6 million contract across five seasons. This clears over $30 million in cap space to finalize a four-year, $107 million deal with free agent center Myles Turner, according to ESPN’s Shams Charania.
Though it’s a shocking headline, Lillard’s injury status played a major role. The 34-year-old All-Star, who averaged 24.9 points and 7.1 assists last season, tore his Achilles during the playoffs and is expected to miss most, if not all, of the 2025–26 season.
Stretching his deal means Milwaukee will take a $22.5 million cap hit annually instead of paying him $54.1 million this year and $58.4 million next year.
“This is the largest waive-and-stretch in NBA history,” noted ESPN’s Bobby Marks.
NBA rules allow the stretch only if the cap hit is below 15% of the season’s salary cap—Lillard’s $22.5 million qualifies.
Lillard can’t re-sign with Milwaukee until his original contract expires in 2027.
