The Portland Trail Blazers traded guard Damian Lillard to play alongside Giannis Antetokounmpo with the Milwaukee Bucks as part of a three-team deal that also included the Phoenix Suns, the teams announced Wednesday.
Portland receives Jrue Holiday, Deandre Ayton, Toumani Camara, Milwaukee's 2029 unprotected first-round draft pick and unprotected Milwaukee swap rights in 2028 and 2030, the teams said in their release.
The Blazers are expected to engage contending teams on trade talks to move Holiday, sources told ESPN's Adrian Wojnarowski.
The deal comes months after Lillard formally requested to be traded in early July as the Blazers decided to take a patient approach to negotiations.
Lillard leaves Portland after 11 seasons in which he made seven All-Star and All-NBA teams and led the franchise to the playoffs eight times, including a Western Conference finals appearance in 2018-19. He ranks first in team history in points and 3-pointers and second in assists.
He took to X on Wednesday to say he is "excited" for the next chapter.
Lillard, 33, had a career year last season, averaging 32.2 points and 7.3 assists but played just 58 games as he sat out the final month. The highlight of Lillard's season came Feb. 26 against the Houston Rockets, when he scored 71 points.
"Today is an exciting day for Milwaukee," Bucks president Peter Feigin and general manager Jon Horst said in a statement. "When you have the rare opportunity to pair one of the premier NBA players with a highly versatile roster that has lofty goals, you go for it. And we're thrilled to welcome seven-time All-Star Damian Lillard to the Bucks."
Lillard's 32.2 points per game is the most by a player to change teams the following season, according to ESPN Stats & Information.
"His character, competitiveness, talent and experience complement our group and gives us the best chance to win at the very highest level as we create new memories together," Horst said.
Despite Lillard's numbers, Portland failed to make the playoffs for the second consecutive season for the first time in his career. The Blazers elected to keep their draft pick after both seasons, most recently selecting guard Scoot Henderson with the No. 2 overall pick. Lillard's trade request came shortly after.
"I want to express my gratitude to Damian for 11 storied years with this franchise and for his loyalty to the Portland community," Blazers general manager Joe Cronin said. "From becoming the all-time leading points scorer in franchise history to his dedicated commitment to youth across Oregon and the entire Pacific Northwest, Damian is and will remain a titan and a true trailblazer to this city."
The Bucks emerged as the consensus favorite to win the NBA title after the trade, with odds around 4-1 at U.S. sportsbooks. Milwaukee had been listed as the fourth favorite, behind the defending champion Denver Nuggets, Boston Celtics and Suns.
The Associated Press contributed to this report.