The Milwaukee Bucks "are starting to listen" to offers for two-time MVP Giannis Antetokounmpo, reports Shams Charania of ESPN.
That may be a step closer to the door for Antetokounmpo compared to where he stood a week or two ago, but it's also a long way from the Greek Freak being on a new team before the Feb. 5 NBA trade deadline.
There are more than a few obstacles in the way of a trade deadline deal, in addition to the fact that Antetokounmpo has not requested a trade:
• He has a $54.1 million salary (plus the fact that any team that trades for him will need to give him a $275 million contract extension six months after the trade).
• The luxury tax aprons restricting what teams can trade (especially the Knicks and Warriors) come into play in almost any deal.
• Antetokounmpo's calf injury has him out now, and it is his second calf injury this season. Remember, he has missed recent playoff runs because of leg issues, this is a recurring thing.
However, the biggest challenge is this: If the Bucks are going to trade Antetokounmpo, they are going to expect a historic haul of picks and players in return, starting with a "blue chip" young star and a boatload of draft picks. Those kinds of trades are very difficult to put together a week before the trade deadline. Milwaukee's best option may be to be patient and wait to make a move in the summer when better trades are likely available (and in the short term, they can try to put together potential deals to upgrade the roster and convince Antetokounmpo to stay).
That said, the Bucks are listening. Charania said later in the day that Antetokounmpo wants to go to New York, Miami, Minnesota or Golden State, but other reports contradict some of those destinations. Take everything with a grain of salt.
Here are some potential destinations for Antetokounmpo.
Golden State Warriors
Golden State isn't done trying to recapture its glory days. It doesn't want the 2022 title to be the last great playoff run of the Stephen Curry era — that's why they traded for Jimmy Butler (who is now done for the season with an ACL tear). Trading for Giannis Antetokounmpo gives the Warriors the best chance of making another run with Curry.
A potential Warriors trade that works is:
Golden State gets: Antetokounmpo, Bobby Portis
Milwaukee gets: Jimmy Butler, Jonathan Kuminga, first-round draft picks in 2027, 2029 and 2031, pick swaps in 2028 and 2030.
Butler is the matching salary and a player the Bucks could and would try to flip in another trade over the summer or next season. They can take a flier on Kuminga (this trade can be done without him and the Bucks keeping Portis, but the floor-stretching big man might be a good fit in Golden State). The real selling point is the draft picks (Golden State can trade a fourth as well). The Warriors' sales pitch is that, "once Curry retires, and as Antetokounmpo fades, we have to rebuild, and those picks are very valuable."
This trade has the kind of pick package the Bucks will want, but the only young player coming back is Kuminga and he is more of a roll of the dice than a blue chip prospect. Big picture, the Warriors should also take a step back and ask whether they really want to give up all those picks and pay a serious price in the future for the dream of one more run.
If the Bucks are really trading Antetokounmpo at the deadline, this is likely the best straight-up, one-team offer out there. The questions are: 1) Does Antetokounmpo want to go there? 2) Do the Bucks think this is as good as they can do and take it, or do they wait (this trade will still be there in the summer)?
New York Knicks
If Antetokounmpo could pick his destination, it would be Manhattan — he pushed the Knicks and Bucks to have talks late last summer that went nowhere. (Those talks started after the Knicks had just traded a bunch of picks for Mikal Bridges because it didn't look like the Greek Freak would be available.) The Knicks are going to be aggressive going after Antetokounmpo, reports Ian Begley of SNY.TV.
What killed trade talks last summer is still the problem now: The Bucks want high-level young players, and a lot of first-round draft picks, and the Knicks have none of that. They have Karl-Anthony Towns.
Straight up, this trade is not happening. One scenario that has been floated is a three-team trade that brings in Portland and looks something like this:
New York gets: Giannis Antetokounmpo, Jerami Grant
Portland gets: Karl-Anthony Towns, Guerschon Yabusele
Milwaukee gets: Mikal Bridges, Miles McBride, Pacome Dadiet, a potential 2026 first-round pick, they get back some pick swaps from Portland (Damian Lillard trade) and control at least part of their own picks in 2028, 2029, 2030.
There are seemingly countless variations of this trade that have been speculated about, some with Jrue Holiday going to New York, others with Kyle Kuzma instead. Grant ends up on the Bucks in some versions of this. A few have Towns and Bridges in Portland, another has Towns on the Bucks and Bridges in Portland.
First, Zach Lowe of The Ringer called this trade a "wild rumor" on his podcast because he has not heard anyone who would be involved say they know anything about it. Lowe is about as well-connected as it gets, if he's not hearing this, is it real?
This trade absolutely works for the Knicks (which is why their fans love it). The Bucks prize would be control (or, at least some partial control) of some of their own picks, making future tanking a path to a rebuild. But they get no good young players in this deal. As for Portland… why do this? The Trail Blazers are an improving team with a growing young core. Why trade away all those future assets for an expensive player in Towns, who only makes the team marginally better in a deep West? I don't get it.
The only way Antetokounmpo ends up on the Knicks is if he forces his way there, he has not seemed willing to do that, yet. It seems unlikely to be happening before the trade deadline, the Bucks would rather wait out a better offer. (And do the Knicks want to do it now? Owner James Dolan has said he expects to make the Finals, and retooling core parts of a roster midseason — and forcing a dramatic change in playing styles — does not lead to deep playoff runs, even if a team is adding talent.
Minnesota Timberwolves
There reportedly is some mutual interest between the sides. Why Antetokounmpo would want to jump to the stacked Western Conference if his goal is another ring is a good question, but the Timberwolves have been to the Western Conference Finals the past two seasons and have played like a contender at times this season.
What would a potential trade look like?
Minnesota gets: Giannis Antetokounmpo
Milwaukee gets: Julius Randle, Jade McDaniels, Rob Dillingham, 2029 and 3032 first-round picks, multiple pick swaps
If the goal is to pair Anthony Edwards with Antetokounmpo, then Randle becomes the odd man out (who the Bucks would then try to flip in another trade). Dillingham is not the rising star the Timberwolves hoped for, but maybe the Bucks are willing to take a flyer on him.
If the goal is for Milwaukee to stack up young talent and picks, at least one more team needs to be brought into this trade because the Timberwolves do not have the assets to satisfy the Bucks. This also seems more like an offseason discussion than a trade deadline one.
Miami Heat
If there is a superstar available, you know Pat Riley and the Heat will be in the mix. Miami offers warm weather, a strong organization, and other perks. What would the trade look like?
Miami gets: Giannis Antetokounmpo
Milwaukee gets: Tyler Herro, Terry Rozier, Kel'el Ware, first-round picks in 2030 and 2032, swap rights in 2031
The only way the Bucks consider this is if they agree to work with Antetokounmpo and he gives them a two-team list of New York and Miami. The Heat offer is better than the Knicks, but this deal isn't that great. Maybe Miami can loop in a third team and up the offer, but that is more of a summer thing than a deadline thing.
Atlanta Hawks
Atlanta might be the team Milwaukee wants to deal with because it can put together a trade the Bucks front office would love — but would the Hawks want to do this dance? Would Antetokounmpo re-sign there? What would a trade to the ATL even look like?
Atlanta gets: Giannis Antetokounmpo
Milwaukee gets: Kristaps Porzingis, Onyeka Okongwu, Zaccharie Risacher, New Orleans 2026 first-round pick, Hawks 2030 and 2032 first-round picks.
Milwaukee will ask for Jalen Johnson and the Hawks should shoot that down before the sentence is even finished — the goal here is to pair Antetokounmpo and Johnson (who is having a strong season and should be an All-Star). There are ways to construct this trade with Nickeil Alexander-Walker in it that could work for the Bucks.
The real prize here is the Pelicans' 2026 pick — and it's why the Hawks should not do this trade at the deadline. That pick, if it lands top three, is too valuable for Atlanta to trade — even for Antetokounmpo. He is a win-now move and that pick could provide a cornerstone for winning for the next decade. If the Bucks could talk the Hawks into this deal, Milwaukee would control both the Pelicans pick and their own, two shots at the top of the lottery (they could, theoretically, land 1-2), plus get another No. 1 in Risacher.
Atlanta should wait for the NBA Draft Lottery before even considering this trade.
Other Potential Suitors
• Both the San Antonio Spurs and Detroit Pistons were linked to Antetokounmpo over the summer, but after their success this season, it makes no sense to get involved now. Why blow up a young core poised for long-term success at midseason to get older and hope for the kind of run they might make anyway? Maybe they revisit this summer, but why now?
• Toronto was often linked to Antetokounmpo when Masai Ujiri was in charge, now it seems a long shot. The Raptors can make the contracts work with some combination of Immanuel Quickley, RJ Barrett and Brandon Ingram, but they don't have the young players the Raptors would want. Would Antetokounmpo re-sign there?
• The Lakers will make a call on Antetokounmpo and offer Austin Reaves and anyone else on the roster not named Luka, but they can offer more picks this summer and that helps. Much like New York, Antetokounmpo to the Lakers only happens if he really pushes for it.
• Chicago could get in the mix if it's willing to include Matas Buzelis and at least three of its first-rounders. Would Antetokounmpo want to play in Chicago, and does he really fit next to Josh Giddey?
