After losing a power struggle with the Brooklyn Nets last week, the team traded Kidd to the Bucks for two second-round draft picks.
The Bucks then signed Kidd to a three-year, $15 million contract.
“Over the past couple days, I've been asked: ‘Why Milwaukee' My answer is simple: there is no place I'd rather be,” Kidd wrote. “Over my twenty years in the NBA as a player and a coach, I have always been impressed with the level of support that Bucks fans have given this team, in good times and bad.
”With a talented roster, new owners that are passionate about being successful in Milwaukee, and a great fan base, we have the makings of something special here and I'm proud to be leading this new era of Bucks basketball.“
Kidd approached Nets ownership on June 25 about having a role in making player personnel decisions. Kidd guided the Nets to a 44-38 record in his first year as coach and advanced to the second round of the Eastern Conference playoffs. Kidd had three years left on his four-year, $10.5 million deal.
After the Nets rejected Kidd's request, they gave him permission to negotiate with the Bucks.
After seeking a first-round pick as compensation for Kidd, the Nets settled on two second-rounders.
Milwaukee believes it has a bright future with Kidd as coach and former Duke forward Jabari Parker, who was taken No. 2 overall in last month's draft, as a potential star player.
”From the moment that Marc Lasry and Wes Edens purchased this franchise, they have clearly and repeatedly stated their singular focus -- to return championship-caliber basketball to Wisconsin,“ Kidd wrote. ”I am humbled by the trust they have put in me and the opportunity they have given me to turn that dream into reality.“