Damian Lillard is "elated" with the Milwaukee Bucks' decision to use the waive-and-stretch provision on his $54.1 million contract for the 2025-26 season and $58.4 million for 2026-27, sources tell Sam Amick of The Athletic. Lillard will have the opportunity to choose his next team after he was traded to the Bucks in 2023 despite strongly preferring a move to the Miami Heat.

Lillard could sign for a minimum salary either sometime soon or next offseason, which will open up virtually any team of his choosing.

Lillard received calls from several contending teams shortly after news broke of the Bucks' decision. Lillard must decide whether he wants to sign now and rehabilitate under his new team's care, or wait until next offseason to reassess the situation. Lillard is rehabilitating his torn Achilles. 

Even if Lillard hadn't been injured in the playoffs, he and the Bucks were going to discuss a potential exit this offseason. Lillard had some on-court fit issues and also struggled with being away from his children.