Khris Middleton has made a big decision regarding his contract option for next season.
Middleton signed a 5-year, $177.5 million contract with Milwaukee in 2019. He had played four seasons on the deal and had a $40.39 million option for next season. But the veteran forward has declined the option in order to become a free agent.
Three-time All-Star forward Khris Middleton has declined his $40 million player option with the Milwaukee Bucks to become a free agent, his agents Mike Lindeman and Jeff Schwartz of @excelbasketball tell ESPN. pic.twitter.com/k0sO5qhSk6
— Adrian Wojnarowski (@wojespn) June 22, 2023
Though Middleton turned down the big money option, that doesn’t necessarily mean he won’t be returning to the Bucks. Declining the option could just be procedural before Middleton and the Bucks agree to a new extension.
Something to keep in mind is that you don’t decline a $40M option just to test the market.
There’s always a financial insurance policy in waiting.
Middleton has bird rights and Milwaukee can exceed the cap to sign him.
He joins Brook Lopez as the 2 key FA in Milwaukee. https://t.co/N8AkmpX0Wx
— Bobby Marks (@BobbyMarks42) June 22, 2023
The 31-year-old could end up getting a new deal worth around $130 million for four years, which would represent much more total money though a decrease in annual value from $40 million. A new deal could also help Milwaukee manage its luxury tax situation.
Per Michael, league executives expect Khris Middleton to command a deal at around four years, $130M.
The Bucks are now in the repeater tax, but this framework where he decreases his first year salary could allow them to have a similar penalty as last season ($84M in 2022-23). https://t.co/VhQJfHTiLy
— Yossi Gozlan (@YossiGozlan) June 22, 2023
Middleton has spent the last 10 seasons with the Bucks since being acquired in 2013 in the Brandon Jennings deal. He has made three All-Star teams.
Middleton is recovering from arthroscopic surgery on his knee and was limited to just 33 games last season due to several injuries. Middleton has averaged 17.5 points per game during his Bucks career and is a career 38.8 percent three-point shooter.
