Bucks Waive Lillard, Gain $11.65M Cap Benefit Amid Roster Shift

The Milwaukee Bucks waived Damian Lillard and used the stretch provision on his $112.6 million contract to create salary cap space, allowing them to sign free agent Myles Turner to a four-year, $107 million deal. This move, explained by Bucks GM Jon Horst, was aimed at maximizing Giannis Antetokounmpo's prime and acquiring a player better suited to the team's long-term plans despite the financial burden of Lillard’s remaining salary spread over five years. Lillard, who suffered a torn Achilles during the 2025 playoffs, chose to return to the Portland Trail Blazers on a three-year, $42 million contract with a player option and no-trade clause, prioritizing family and familiarity despite limited offers from contenders. The Bucks will realize a set-off cap benefit from Lillard’s new contract, reducing their dead-money cap hits slightly, though the financial hit remains significant. Milwaukee's point guard depth chart is reshaping with Kevin Porter Jr. expected to lead, supported by emerging players like Jaden Springer and Shake Milton. Both the Bucks and Phoenix Suns face long-term dead cap challenges from their waive-and-stretch maneuvers, which traded short-term roster flexibility for extended financial burdens.