Memphis’ Cole Anthony plans to sign with the Milwaukee Bucks after he clears waivers

Following the 204-25 season, the Orlando Magic decided it was time to upgrade their roster. The team traded with the Grizzlies to acquire sharpshooter Desmond Bane, 

Orlando traded Kentavious Caldwell-Pope, Cole Anthony, and four first-round picks. Additionally, they added a first-round pick swap in 2030. NBA insiders Shams Charania reported that Cole Anthony has agreed to a contract buyout with Memphis. Once he clears waivers, Charania expects Anthony to sign with the Milwaukee Bucks—a fresh start for Anthony after five seasons in Orlando.

Where will Cole Anthony fit in with the Bucks in 2025-26?

Cole Anthony has agreed to a contract buyout with the Memphis Grizzlies and plans to sign with the Milwaukee Bucks after he clears waivers, sources tell ESPN. Grizzlies finalized the buyout with Jeff Schwartz and Javon Phillips of Excel Sports for Anthony’s new opportunity. pic.twitter.com/HnCsmxaqcz

— Shams Charania (@ShamsCharania) July 13, 2025

With the 15th pick in the 2021 NBA draft, the Magic selected Cole Anthony of UNC. Over five seasons, Anthony played in 320 games for Orlando and made 125 starts. His 65 games started and played in 2021-22 are still a career-high for the 25-year-old. In 2024-25, Cole Anthony played in 67 of the team’s 82 games and made 22 starts. It was the first time in his career that he averaged less than 10+ points per game for a season.

The Magic felt their roster needed to be revamped after the 2024-25 season. That’s why Orlando made a trade with the Grizzlies to acquire Desmond Bane. In that deal, the Magic shipped PG Cole Anthony to Memphis. Recently, ESPN’s Shams Charania reported that Anthony has agreed to a contract buyout with the Grizzlies. Once Anthony clears waivers, he expects Anthony to sign with the Bucks. He’d be the backup PG in Milwaukee.

Cole Anthony last season for Orlando:

9.4 PTS
3.0 REB
3.0 ASTS

1 STL
1 BLK

42% FG
35% 3PT

18 mins pic.twitter.com/hOrGi8tTFg

— 𝐁𝐮𝐜𝐤𝐬 𝐓𝐚𝐤𝐞 (@Bucks_Take) July 13, 2025

Next season, the Bucks will be without all-star PG Damian Lillard. They waived and stretched his remaining contract. Making the veteran an unrestricted free agent. On their current depth chart, Kevin Porter Jr. is the starting PG for the Bucks. His natural position is SG, and Cole Anthony could come in and be Milwaukee’s starter. Porter Jr. has the size advantage over Anthony, but the latter has far more experience as a PG in the NBA.

Milwaukee is eager to improve after its recent time in the postseason has been shaky. After winning the NBA Finals in 2021, the Bucks have advanced past the first round just once. That includes three consecutive in the first round of the playoffs. Even if Cole Anthony doesn’t start for the Bucks next season, he’ll be a valuable piece off the bench. Anthony is an experienced PG who can handle running an offense. We’ll see where head coach Doc Rivers uses Anthony in the upcoming season.