The 2026-27 payroll runs $193.8M across 20 contracts, over the $165.0M cap but under the $200.4M tax line, with both aprons still distant. Three of the roster's bigger salaries — Herro, Kuzma and LeVert — carry no number on the books for 2027-28.
Last season
Last season's roster, built around an injured Giannis Antetokounmpo, went 32-50 without threatening the tax line Milwaukee sits near now. The spending question has changed along with the roster — the money is committed differently, even if the total isn't dramatically higher.
This summer
The Miami trade in June rebuilt the books as much as the roster. Sending out Giannis Antetokounmpo and Bobby Portis brought back Tyler Herro's $33.0M, while Myles Turner's $26.6M and Kyle Kuzma's $20.3M carried over from the previous roster, fixing the frame for this year's payroll.
Right now
Milwaukee carries $193.8M in salary across 20 contracts, over the $165.0M cap and $6.6M under the $200.4M luxury tax line. The first apron sits at $209.0M, the second at $221.7M. Gary Trent Jr.'s $15.2M and Caris LeVert's $14.8M round out the five largest numbers below Lillard's $22.5M player option. That leaves $15.2M of room before the first apron and $27.9M before the second — breathing room Horst hasn't had to use yet.
Next summer
Several deals clear out before 2027-28. Herro's $33.0M, Kuzma's $20.3M and LeVert's $14.8M carry no number on next year's books, and the option years belonging to Kevin Porter Jr. ($5.4M) and Sims ($2.8M) end with this season. Turner's number rises to $27.9M, Lillard's option year — if exercised — holds at $22.5M, and Trent Jr. climbs to $16.4M.
Beyond
Draft equity is thin by comparison. Milwaukee holds swap rights, not outright picks, on most first- and second-rounders from 2027 through 2030, owns its 2027 second outright, and owes a 2030 second to Orlando. The flexibility opening up next summer will have to do the work those picks can't.
Are the Bucks over the salary cap for 2026-27?
Yes. Milwaukee carries $193.8M in salary against a $165.0M cap, though that leaves them $6.6M below the $200.4M luxury tax line.
Which contracts come off Milwaukee's books after this season?
Tyler Herro's $33.0M, Kyle Kuzma's $20.3M and Caris LeVert's $14.8M carry no number for 2027-28, along with the option years held by Kevin Porter Jr. and Sims.
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