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Expand chart
Data: Spotrac; Chart: Andrew Witherspoon/Axios

Giannis Antetokounmpo has signed a five-year, $228.2 million extension to continue playing for the Milwaukee Bucks — the largest contract in NBA history by both total and average annual value.

Why it matters: Teams have been positioning themselves for a run at Antetokounmpo for months amid rumblings that the Greek superstar, a year from free agency, might test the market next summer.

  • Now, the biggest piece is off the board, and the small-market Bucks should remain title contenders for the foreseeable future.
  • Plus, it's the rare NBA deal in which a superstar stuck with the team that found and developed him.

The big picture: This offseason was laden with huge NBA contracts, pushing the active number of deals with an average annual value (AAV) of at least $20 million to 60 — by far the most of the major North American sports leagues.

  • MLB has 35 such contracts, from Hyun-Jin Ryu's deal with Toronto (four years, $80 million) to Mike Trout's behemoth Angels contract (12 years, $426.5 million). Highest AAV? Yankees ace Gerrit Cole at $36 million per year.
  • The NFL has 30, from Chiefs DT Chris Jones (four years, $80 million) to his teammate, the league's richest man, Patrick Mahomes (10 years, $450 million).
  • The NHL has no contracts worth more than $12.5 million annually (Connor McDavid; eight years, $100 million) or $124 million total (Alex Ovechkin; 13 years, with one remaining).

Notes:

  • QBs get paid: The top 11 NFL contracts by AAV belong to QBs. Cardinals WR DeAndre Hopkins has the highest AAV ($27.3 million) of any non-QB.
  • NFL caveat: Football money is not fully guaranteed. For example, Deshaun Watson is guaranteed just under half of his $156 million deal ($74.9 million).
  • LeBron's savvy: None of the King's contracts blow you away from a total value perspective because he's shrewdly maximized earnings and flexibility by signing short-term deals.

Looking ahead: Antetokounmpo coming off the board means next year's free agent class features ... basically nobody.

Go deeper

Updated Jan 12, 2021 - Health

Moderna's COVID-19 vaccine expected to provide immunity for at least 1 year

Photo: Mario Tama via Getty

Moderna's coronavirus vaccine will provide immunity from the disease for at least one year, the biotech company said Monday per Reuters.

Why it matters: Moderna's vaccine is one of two now authorized for emergency use in the U.S., as coronavirus cases surge past 22.5 million nationally and 90.8 million globally.

Dan Primack, author of Pro Rata
44 mins ago - Economy & Business

Scoop: Red Sox strike out on deal to go public

Illustration: Sarah Grillo/Axios

The parent company of the Boston Red Sox and Liverpool F.C. has ended talks to sell a minority ownership stake to RedBall Acquisition, a SPAC formed by longtime baseball executive Billy Beane and investor Gerry Cardinale, Axios has learned from multiple sources. An alternative investment, structured more like private equity, remains possible.

Why it matters: Red Sox fans won't be able to buy stock in the team any time soon.

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