Mike Budenholzer and the Milwaukee Bucks have agreed to a three-year extension through the 24-25 season. 

Budenholzer was set to enter the final season of his initial contract with the Bucks.

Budenholzer is 31-17 in the playoffs as Bucks coach, including the 2021 NBA title and trips to the Conference Finals and Semifinals.

The Bucks hired Budenholzer in 2018. 

The NBA will open their landmark 75th season on Tuesday, October 19. The opening night doubleheader will see the Milwaukee Bucks raise a banner and get their championship rings in front of the home fans:

Brooklyn Nets at Milwaukee Bucks - 7:30 PM ET on TNT

Golden State Warriors at Los Angeles Lakers - 10:00 PM ET on TNT

The schedule NBA's annual Christmas Day extravaganza has been set. As per usual, there are five games scheduled on December 25:

Atlanta Hawks at New York Knicks - 12:00 PM ET on ESPN

Boston Celtics at Milwaukee Bucks - 2:30 PM ET on ABC

Golden State Warriors at Phoenix Suns - 5:00 PM ET on ABC

Brooklyn Nets at Los Angeles Lakers - 8:00 PM ET on ABC/ESPN

Dallas Mavericks at Utah Jazz - 10:30 PM ET on ESPN

The Milwaukee Bucks have agreed to a new two-year contract with forward Thanasis Antetokounmpo. Antetokounmpo had previously been an unrestricted free agent.

Antetokounmpo has spent the last two seasons in Milwaukee. In 2020-21, he saw an increased role, as he played in 57 regular season games and then 13 postseason games. While Antetokounmpo's offensive game hasn't developed beyond finishing around the rim, he's known to be a rugged defender who pushes his teammates in practice.

An added benefit for the Bucks is that Thanasis Antetokounmpo is the older brother of superstar Giannis Antetokounmpo. The two have openly talked about how much they've enjoyed playing together. The duo was recently seen celebrating Milwaukee's 2021 championship back in their home country of Greece.

The Milwaukee Bucks saved approximately $3 million in salary and luxury tax by signing Georgios Kalaitzakis to an NBA rookie minimum contract.

Milwaukee signed Kalaitzakis to a three-year deal and used part of their taxpayer mid-level exception to allow the deal to last for longer than two years. Kalaitzakis was the 60th overall pick and played for Panathinaikos last season.

If the Bucks had used the roster spot on anybody else, Milwaukee would have had a combined bill of approximately $3 million.

The Memphis Grizzlies have agreed to trade Grayson Allen for the Milwaukee Bucks for Sam Merrill and two future second round picks.

Allen averaged 10.6 points, 3.2 rebounds and 2.2 assists in 25.2 minutes over 50 games last season with the Grizzlies while shooting 39.1 percent on three-pointers. 

Merrill appeared in 30 games with the Bucks, averaging 3.0 points and 1.0 rebounds in 7.8 minutes per game.

George Hill has cleared waivers and will sign a two-year deal with the Milwaukee Bucks for $8 million.

The Milwaukee Bucks hosted 100,000 fans in the Deer District during The Finals last month and that has been linked with a spike in COVID-19 cases.

The state Department of Health Services reported that 491 people with confirmed or probable cases said they had attended the Deer District or Bucks game "during their exposure or infectious periods" but the department could not say definitively that they caught the virus while viewing the game downtown or elsewhere.

The department also said the figure was likely an undercount.

"We anticipated an increase in positive cases due to the delta variant but 155% increase in one week is distressing," Milwaukee Health Commissioner Kirsten Johnson said.

The Golden State Warriors and Brooklyn Nets are each currently slated to have a luxury tax penalty in excess of $100 million.

Based on their current roster, the Warriors' bill is estimated at $185 million while the Nets will pay $122 million. The highest luxury tax bill in NBA history belongs the 13-14 Brooklyn Nets at $90.6 million.

If the Los Angeles Clippers re-sign Kawhi Leonard to his max, they will have a $54 million luxury tax bill.

The Los Angeles Lakers ($36 million), Utah Jazz ($29 million) and Milwaukee Bucks ($29 million) also have luxury tax penalties. 

Bryn Forbes has agreed to sign with the San Antonio Spurs.

Forbes averaged 10.0 points on 45.2 percent shooting on three-pointers in 19.3 minutes over 70 games with the Milwaukee Bucks.

Forbes spent his first four seasons in the NBA with Spurs.