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.
Parker was the second overall selection in this year's NBA draft behind Andrew Wiggins, who was taken by the Cleveland Cavaliers.
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.