Swingman Grayson Allen, Bucks agree to two-year extension

The Bucks have reached an agreement on a two-year, $20 million rookie-scale contract extension with wing Grayson Allen, agent Mitch Nathan of CAA tells Adrian Wojnarowski of ESPN (Twitter link).

Allen, who is entering his fourth NBA season, had the best year of his career for the Grizzlies in 2020-21, starting 38 of 50 games and averaging 10.6 PPG, 3.2 RPG and 2.2 APG. The former Duke star has knocked down 39.5% of his three-point attempts over the last two seasons while steadily increasing his volume.

The Bucks acquired Allen from Memphis over the summer in exchange for Sam Merrill and a pair of future second-round picks. He’ll play a rotation role on the wing in Milwaukee this season and would have been eligible for restricted free agency in 2022 if he hadn’t worked out a deal with the team on Monday.

Allen’s two-year contract will give the Bucks some insurance in the event that they can’t complete a new contract with Donte DiVincenzo, who is also on track for potential restricted free agency next summer if he doesn’t sign an extension on Monday. Allen’s new deal will pay him approximately the equivalent of the full mid-level exception.

Allen will earn just over $4 million this season before his extension goes into effect in 2022-23.