Less than a week after waiving him, the Bucks have re-signed forward Pete Nance, the team announced today (via Twitter).

If Milwaukee had kept Nance on his previous minimum-salary contract, his $2.5MM salary for 2026/27 would have become fully guaranteed over the weekend. At the time he was cut, we speculated that the Bucks might re-sign him to a new deal with a more team-friendly structure, and that’s what happened today.

According to Jake Fischer of The Stein Line and Eric Nehm of The Athletic (Twitter links), Nance’s new contract is a two-year, non-guaranteed deal worth the veteran’s minimum and includes a second-year team option.

Hoops Rumors can confirm that Nance’s $2.5MM salary for ’26/27 will now become guaranteed if he’s not waived before the start of the regular season. He also waived his right to veto a trade as part of the agreement.

Nance, who went undrafted out of UNC in 2023, spent part of his rookie year with the Cavaliers and played a couple months during the 2024/25 season on a two-way contract with the Sixers. The 6’9″ forward caught on with the Bucks in February 2025, when he signed a two-year, two-way contract after he was waived by Philadelphia.

Nance appeared in 47 games for Milwaukee in 2025/26, averaging 5.4 points, 2.7 rebounds, and 1.0 assist in 15.7 minutes per contest. He shot 51.5% from the field and 42.0% on three-pointers, though he attempted just 11 free throws in 737 total minutes of action, making four of them (36.4%). The Bucks promoted him from his two-way contract to a standard multiyear deal in March.

Prior to this signing, Milwaukee already had 15 players on its projected regular season roster, so in order for Nance to open the season with the team, at least one of those players would need to be traded or waived in the coming days, weeks, or months.