Giannis Antetokounmpo’s consecutive NBA MVP campaigns netted him a record five-year, $228 million contract extension with the Milwaukee Bucks.
It’s a sound investment, as the Bucks organization credits him for much of their recent bottom line success.
Since Antetokounmpo was drafted in 2013, the Bucks’ valuation has jumped from No. 30 in the league at $312 million to No. 19 at $1.58 billion, according to Forbes.
Other examples of the “Giannis Effect”:
- 186% increase in Bucks online merchandise sales in the first 18 hours after he re-signed
- 55% of sales were Antetokounmpo items
- He had the fifth-most popular NBA jersey during the Orlando bubble
The Athens-born Antetokounmpo is also key to bringing the Bucks brand abroad. The NBA now allows teams to work with three sponsors on advertising campaigns outside of North America.
The biggest potential gain? The team’s jersey patch, as the Bucks reportedly near a deal with a new sponsor that could command upwards of $15 million annually.
Antetokounmpo’s agent Alex Saratsis is also reaping the benefits of his contract extension, getting promoted at Octagon two days after it was announced.
“His name certainly represents the MVP of the league and it kind of has a ripple effect,” Bucks President Peter Feigin said. “[The contract extension is] really an incredible accelerator as well. Just a great value prop for all people looking to invest and spend with us because it’s over a period of time.”