The Milwaukee Bucks enter the 2026 free agency period with some financial options at their disposal because they reduced their payroll quite drastically last season.
The Bucks have the following options in front of them even though free agency began in earnest on July 6.
The Bucks have access to:
The BAE and the NTLME exceptions can be split among multiple players, as long as the first-year salaries of all those players do not add up to more than the total value of the exception.
Both exceptions can be used to trade for players, if the total value of the 2026-27 salaries of traded and signed players using the exception doesn’t go over the total value above. In a trade, the BAE can be used only for a player who has at most two years left under contract starting with the 2026-27 season. The NTMLE can be used only to trade for a player who has at most four years left under contract, beginning in the 2026-27 season.
Milwaukee began the offseason about $15 million below the luxury tax line, and sit at roughly $8 million below it on Aug. 1 following the acquisition of Caris LeVert and re-signing of Gary Trent Jr.
The Bucks were never going to go into the tax for the 2026-27 season, however, as they were going to avoid the very punitive “repeater tax” penalties instituted by the 2023 collective bargaining agreement.
Who are the Milwaukee Bucks free agents?
Bucks interested in Peyton Watson
Milwaukee has reportedly shown interest in Denver restricted free agent Peyton Watson, with HoopsHype (a USA TODAY NETWORK property) noting that the Bucks would entertain taking Zeke Nnaji and his $7.4 million this season in a sign-and-trade for Watson. Doing that would likely lessen what the Bucks have to send to the Nuggets to make the deal for the 23-year-old Watson. Watson, at 6 feet, 8 inches, is coming off a career best season in which he averaged 14.6 points per game while shooting 41% from behind the 3-point line. He played only 54 games, however, due to injuries.
Because Milwaukee will not pay the luxury tax this season, whatever salary Watson and the Bucks agreed to for 2026-27 would have to be sent out to Denver or another team, provided the team was also taking on Nnaji’s salary.
Bucks interested in Bennedict Mathurin
HoopsHypre reported the Bucks have shown some interest in Bennedict Mathurin, a 6-foot, 5-inch shooting guard who is a restricted free agent with the Los Angeles Clippers. Mathurin, 24, has averaged 16.2 points per game in his four-year NBA career. He has largely come off the bench for Indiana and the Clippers and is a career 33% shooter from behind the 3-point line.
Lakers could try to trade for Jericho Sims
According to The Athletic, the Lakers could inquire about the availability of Bucks backup big man Jericho Sims. Sims, 27, picked up his veteran minimum player option for the 2026-27 season. Milwaukee will face a roster crunch come October, however, as it currently has more players on guaranteed contracts than allowed.
Bucks re-sign Gary Trent Jr. to $64 million deal
Milwaukee agreed to bring back 27-year-old guard Gary Trent Jr. on a 4-year, $64 million deal. It is a fully guaranteed contract and contains no options. Trent spent each of the last two seasons playing for the Bucks on veteran minimum contracts.
UPDATE: The NBA is investigating the deal for potentially violating the collective bargaining agreement.
Pete Nance re-signs with Bucks on two-year deal
Forward Pete Nance re-signed with the Bucks on July 8 for a non-guaranteed, two-year deal. The Bucks will have until roster cut down down in late October to guarantee the minimum salaried contract for the 2026-27 season. The second year of the deal is a team option for the minimum.
Bucks trade for Caris LeVert
Milwaukee acquired Caris LeVert and his expiring $14.8 million contract for the 2026-27 season, along with two, second-round picks in 2027, from Detroit for veterans Taurean Prince and Gary Harris.
Pete Nance waived
Pete Nance $2.49 million contract would have become fully guaranteed on July 4, so the team elected to waive the 26-year-old forward on July 3. Nance remains on the team’s summer league roster. He shot 42% from behind the 3-point line in 47 games with the Bucks last season.
Bucks decline Andre Jackson Jr.’s team option
Milwaukee declined Andre Jackson Jr.’s 2026-27 team option, making him an unrestricted free agent. Jackson was set to make $2.4 million. Technically drafted by Orlando in the second round in 2023, the Bucks traded a future pick and cash to move up to get Jackson from the Magic. Jackson played in 172 games over three seasons, with the highlight being a strong performance against Shai Gilgeous-Alexander in the 2024 NBA Cup final.
Bucks to re-sign Ousmane Dieng to 3-year deal
Dieng, acquired at the trade deadline last year, became an unrestricted free agent after the Bucks did not extend him a qualifying offer. But, they agreed to a 3-year, $17.5 million deal on June 30.
Taurean Prince picks up team option
Veteran Taurean Prince, who remarkably recovered from in-season neck surgery to finish out the season for the Bucks, picked up his $3.81 minimum player option on June 29.
Gary Trent Jr. to decline option, enter free agency
Guard Gary Trent Jr. is expected to let the June 29 deadline on his player option pass, sending him into unrestricted free agency, per a league source. Trent played in 68 games last season for the Bucks and averaged just 8.1 points per game on 36% shooting from behind the 3-point line. It was a tumultuous season for the 27-year-old, who re-signed with the Bucks believing he would play a key role as a starter. But, after a dozen games, Trent was effectively benched by former head coach Doc Rivers.
Alex Antetokounmpo signs with Promitheas Patras B.C.
Wing Alex Antetokounmpo played six games in his rookie season for the Bucks at the end of the year on a two-way contract, but he signed with the Greek team Promitheas Patras B.C. The team is located in Patras, Greece, and plays in the Greek Basket League.
Kevin Porter Jr. picks up player option
Guard Kevin Porter Jr. will opt into his $5.39 million player option for next season, per HoopsHype, a USA TODAY NETWORK property. The deadline for Porter to decide on his option was June 29. Porter played 38 games in an injury-plagued season, which included two surgeries on his right knee. Porter, 26, averaged 17.4 points, 7.4 assists and 5.2 rebounds per game last season.
Jericho Sims picks up player option
Big man Jericho Sims plans to exercise his $2.8 million player option on June 25, per HoopsHype, a USA TODAY NETWORK property. Sims played in 67 games for the Bucks last season and averaged 5.5 rebounds and 5.0 points per game.
Gary Harris picks up player option
HoopsHype, a USA TODAY-Network property, confirmed on June 22 that guard Gary Harris picked up his 2026-27 player option of $3.8 million. It was an expected move by the veteran guard. Harris, who will be 32 years old in September, had been working out with Bucks guard Ryan Rollins and player development coach Donovan Ham in France in late June.
Harris appeared in 48 games for the Bucks last season, shooting 41.2% from behind the 3-point line.
This article originally appeared on Milwaukee Journal Sentinel: Bucks free agency tracker 2026 | Live updates
Reporting by Jim Owczarski, Milwaukee Journal Sentinel / Milwaukee Journal Sentinel
USA TODAY Network via Reuters Connect
By Jim Owczarski, Milwaukee Journal Sentinel | USA TODAY Network
