It's an all-or-nothing situation for the Bucks, as Antetokounmpo hasn't yet signed the supermax deal that's available to him.
As part of the trade for Holiday, Milwaukee is sending New Orleans a package that includes Eric Bledsoe, George Hill and three first-round picks (a 2020 first from IN and unprotected firsts IN 2025 and 2027), sources said.
In addition, the Pelicans will return the 60th pick in the 2020 draft to Milwaukee. They owe the Cavaliers a pick in 2022, 2023 or 2024.
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Holiday, 30, was an NBA All-Defensive first-team selection in 2017-18 and a second-team selection in 2018-19. James, a 6-foot-7 guard who is entering his second National Basketball Association season, averaged 2.5 ppg in 36 games.
The trade of Holiday was the second blockbuster involving a point guard since the league allowed transactions to begin again Monday. The 29-year-old hit 41.5% of his 3-point attempts last season and should have even more space to operate this year. Holiday has a $26.3 million player option for the 2021-22 season.
Therein lies the gamble for the Bucks: There's no guarantee that Holiday will stay more than a year, and Antetokounmpo's future in Milwaukee remains in at least some question as well.
By executing a sign-and-trade deal, the Bucks will hard cap themselves, which means that they can't exceed the tax apron.
That status was backed up by several National Basketball Association stars this past offseason.