Milwaukee's payroll stands at $191.4 million, above the $165.0 million cap but comfortably under the $200.4 million tax line, with both aprons still out of reach. This week's waivers trimmed little off that number, and the bigger swings sit in player options held by Lillard, Porter Jr. and Sims.
This summer
June's trade sent Antetokounmpo to Miami, with Portis also departing, and returned Herro, Jaquez Jr., Ware and Jakucionis. Milwaukee then signed Turner away from Indiana for $26.6 million. Those two moves, plus Kuzma's $20.3 million salary and Lillard's $22.5 million option, built the core of this year's $191.4 million payroll.
This week
On October 17, Milwaukee requested waivers on Nance, Broome and Stephens, clearing frontcourt depth spots without touching the money that matters most. Garrett joined that same day, then left a day later. None of the four carried deals large enough to move the Bucks closer to, or further from, the tax line.
Next summer
Three contracts hinge on player choices: Lillard's $22.5 million option, Porter Jr.'s $5.4 million option and Sims's $2.8 million option. If all three opt in, Milwaukee's books stay crowded; if they opt out, the Bucks gain room beneath the $209.0 million first apron. Nance's $2.5 million deal carries a team option for 2027-28.
Looking ahead
Milwaukee owns outright only its 2027 second-round pick; every first-rounder through 2029, plus three more seconds, carries a swap, and the 2030 second is owed to Orlando. That leaves little outright draft capital to pair with cap flexibility, so any future upgrade likely runs through salary-matching trades rather than picks.
Right now
At $191.4 million, Milwaukee sits roughly $9 million under the tax line and nearly $18 million under the $209.0 million first apron. That gap gives Jon Horst room to take back modest salary in trades without tripping the restrictions that limit aggregation and roster-building moves for teams above those lines.
Are the Bucks over the salary cap?
Yes. Milwaukee's $191.4 million payroll is above the $165.0 million cap but still under the $200.4 million luxury tax line.
What are the biggest pending decisions on Milwaukee's cap sheet?
Lillard, Porter Jr. and Sims all hold player options for next season, and how they decide will shape how much room the Bucks have under the $209.0 million first apron.
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