UPDATE:

Conflicting news after earlier reports said the Knicks and not offered Monroe the max. Former New York Times beat reporter Howard Beck says the Knicks, as well as the Blazers and Lakers, ALL offered Monroe a max deal, but he chose Milwaukee because they’re more playoff ready than the other three.

Also, Wojnarowski adds that Monroe’s three-year max w/ Milwaukee (third year is a player option) will total around $50 million.

EARLIER:

Yahoo’s Adrian Wojnarowski reports the Milwaukee Bucks have landed free agent forward Greg Monroe with a max contract, set to be signed after the July Moratorium ends in a week.

Like most contract talk we’ve seen this July, it’s a proposed three-year deal with a player option before the final season, leaving Monroe an out if he wants to take advantage of the ballooning salary cap and ensuing max contract restrictions after the TV-rights money kicks in. The cap is predicted to reach it’s peak that summer, and Monroe will be in a higher for max tier at that time.

Perhaps you’re wondering why the Knicks lost out on Monroe, after many predicted they were the front-runners for the lefty forward with the deft touch around the rim. Even though New York reached an agreement with Arron Afflalo, USA Today scribe Jeff Zillgitt reports the Knicks did not offer him the max.

If this is true, then the Knicks just lost out on the biggest free agent piece they realistically had a chance of signing this summer. It’s debatable whether a power forward without three-point range in today’s NBA is worth a max deal, especially one with an out after two seasons, but the Knicks may again watch a summer pass without adding any significant free agent pieces to aid Carmelo Anthony. We’re pretty sure he’s going to be venting to LeBron, CP3 and Wade when he gets down to the Bahamas.

(Adrian Wojnarowski)