MILWAUKEE -- The Bucks have signed first-round draft pick Jabari Parker to his rookie contract.
General manager John Hammond announced the signing Wednesday. Terms of the deal were not disclosed, but Parker is guaranteed a minimum of about $8.5 million in the first two years before Milwaukee has team options on his third and fourth seasons.
The drafting of Parker is a critical move for a franchise with new ownership looking to build a new arena. The team last week also fired coach Larry Drew after one season and replaced him with Jason Kidd after sending two future second-round picks to the Brooklyn Nets as compensation.