Giannis Antetokounmpo loses $25 million off 'supermax' contract due to coronavirus losses

Giannis Antetokounmpo made history on Tuesday after agreeing to a supermax extension of his Milwaukee Bucks contract, making it biggest deal ever in NBA history. 26-year-old signed a 5-year, $228 million extension, including an opt-out after fourth year. While Bucks star's contract is record-breaking in its own terms, deal was largely affected by coronavirus pandemic, which cost 'Greek Freak' close to $25 million. 

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Giannis contract breakdown: Greek Freak set to lose out of more than $25 million due to coronavirus on extension 

Giannis Antetokounmpo is all set to be a wealthy man but 26-year-old could have been a good deal richer if t for coronavirus pandemic. Giannis supermax extension will earn Greek Freak more than $45 million per year, making him highest-paid athlete in rth American team sports. However, according to CBS Sports, Giannis could have bagged more from his supermax extension if t for coronavirus pandemic. max on his contract refers to percent of salary cap, which us determined by revenue which was massively hit by coronavirus pandemic.

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 NBA and NBPA settled on a pre-determined cap number for this season, $109,140,000, same as last season, with growth between three and 10 per cent annually based on how much revenue NBA generates. According to CBS Sports report, a three per cent increase on $109,140,000 cap comes out to $112,414,200, which is how Giannis' supermax deal is valued at $228.2 million. 26-year-old's MVP awards make him eligible for veteran status, and his new deal starts at 35 per cent of that cap figure and grows by eight per cent annually. Here's break down of Giannis salary: 

• 2021-22 season: $39,344,970
• 2022-23 season: $42,492,567
• 2023-24 season: $45,640,164
• 2024-25 season: $48.787,761
• 2025-26 season: $51,935,358
• Total earnings: $228,200,820

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And while this figure is set in stone, NBA could generate more revenues if fans are able to return back to stadium. In best-case scenario,  cap would rise 10 per cent, up to $120,054,000. That would have seen Giannis net more than $15million than his current supermax contract. Here's how CBS Sports broke it down:

• 2021-22 season: $42,018,900
• 2022-23 season: $45,380,412
• 2023-24 season: $48,741,924
• 2024-25 season: $52,103,436
• 2025-26 season: $55,464,948
• Total earnings: $243,709,620

w, according to Athletic's Shams Charania, NBA and NBPA had projected a $125 million salary cap for 2021-22 season. That was however before coronavirus pandemic, with fans attending games in numbers. Had that been case Giannis would have earned $25 million more than his current contract value.  It would have paid Giannis over $50 million per year, and Greek Freak could have commanded over $60 million for 2026-2027 season if he remains as productive as he is w. Here's breakdown:

• 2021-22 season: $43,750,000
• 2022-23 season: $47,250,000
• 2023-24 season: $50,750,000
• 2024-25 season: $54,250,000
• 2025-26 season: $57,750,000
• Total earnings: $253,750,000

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(Im Courtesy: Giannis Antetokounmpo Instagram)