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The Cream City Chronicle · Cap watch

Cap Watch: A Payroll Remade in June, With Room Before the Tax

Milwaukee sits under the luxury tax after June's trade, with Jaquez Jr.'s extension clock running down.

By the Bucks Nightly Desk · Wednesday, October 14

Milwaukee's payroll stands at $191.4 million, clearing the $165.0 million cap but sitting under the $200.4 million luxury tax threshold. Tyler Herro's $33.0 million is the largest salary on the roster, and a decision on Jaime Jaquez Jr.'s rookie extension is due within the week.

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Illustration by Hoops Nightly.

This summer

On June 23, 2026, Milwaukee sent Giannis Antetokounmpo and Bobby Portis to Miami for Tyler Herro, Jaime Jaquez Jr., Kel'el Ware and Kasparas Jakucionis. The Bucks also signed Myles Turner away from Indiana and drafted Brayden Burries 10th and Nate Ament 13th that same month. That overhaul set the frame for this season's $191.4 million payroll.

Today

Payroll sits at $191.4 million, clearing the $165.0 million cap but staying under the $200.4 million luxury tax threshold, with aprons at $209.0 million and $221.7 million. Herro's $33.0 million leads the books, trailed by Turner's $26.6 million, Damian Lillard's $22.5 million player option, Kyle Kuzma's $20.3 million and Gary Trent Jr.'s $15.2 million.

This week

Jim Owczarski of the Milwaukee Journal Sentinel reported October 13 that the Bucks have a week to decide on an extension for Jaquez Jr., the wing acquired in the Herro trade. Owczarski framed it as a call that could go either way, but said a deal for a massive number would not make sense for Milwaukee.

Next season

Four of this year's largest salaries are absent from next season's listed commitments: Herro's $33.0 million, Kuzma's $20.3 million, Jaquez Jr.'s $5.9 million and Kevin Porter Jr.'s $5.4 million player option. What remains for 2027-28 includes Turner at $27.9 million, Lillard at $22.5 million and Trent Jr. at $16.4 million, a lighter, cheaper core if nothing else changes.

Draft capital

Milwaukee holds swap rights on first-round picks in 2027, 2028, 2029 and 2030, plus second-round swaps in 2028 and 2029, and owns its 2027 second-rounder outright. The 2030 second-rounder is owed to Orlando. None of the first-round capital is fully controlled through the end of the decade, a mark of the deals that built this roster.

Next Jaquez Jr.'s extension decision is due within the week, before Milwaukee opens its regular season October 21 at Washington.
How far are the Bucks from the luxury tax?

Milwaukee's $191.4 million payroll sits about $9 million below the $200.4 million luxury tax threshold, with the first apron at $209.0 million.

What is the biggest contract on Milwaukee's books?

Tyler Herro's $33.0 million salary is the largest, followed by Myles Turner at $26.6 million and Damian Lillard's $22.5 million player option.

By the Bucks Nightly Desk, written from the club's data and the reports on file, with every name and number checked against them. How the desks work.

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