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Giannis Antetokounmpo delivered a championship to the city of Milwaukee in 2021. A total of 50 years had gone by, but the Milwaukee Bucks were finally able to call themselves NBA champions once more. Four years later, the misery and shadows of the past are engulfing Giannis and the Bucks, leading them down a path of postseason failure.
The Bucks suffered a stunning 119-118 overtime loss to the Indiana Pacers in Game 5 on Tuesday night, crashing out in the first round against the Pacers for a second straight season. It took six games in 2024, but the Pacers were able to get the job done in five games against Antetokounmpo's team this year, using a wild 8-0 run in the final 40 seconds to finish the job.
To make matters worse, this is the third straight season in which Giannis and Milwaukee have been eliminated from the playoffs in the first round. After this game, Giannis got into it with Tyrese Haliburton's dad, though it was not the Bucks star's fault. Still, it was just yet another rough way for Milwaukee to go out.
When Mike Budenholzer was leading the team, the Bucks were the pinnacle of the Eastern Conference. They captured the 1-seed in three of Budenholzer's five seasons at the helm on the sidelines, and that championship run in 2021 will never be forgotten.
Milwaukee ultimately replaced Budenholzer in 2023, leading to a downward spiral that is now out of control. Adrian Griffin lasted 43 games as the Bucks' head coach before he was replaced by interim head coach Joe Prunty for three games. Doc Rivers has since been the head coach in Milwaukee, yet a 65-53 record in the regular season is clouded by back-to-back first-round exits in the playoffs.
Even though the Bucks won the second-ever NBA Cup this season, it doesn't mean anything given that the team has once again wasted another year of Giannis' career.
Antetokounmpo's 12th season in Milwaukee has come to an end. Aside from all the crazy stats, performances, and records Giannis has set, he ended up averaging 30.4 points, 11.9 rebounds, and 6.5 assists per game while shooting 60.1 percent from the floor. Only one other player in league history has averaged at least 30 points per game while shooting at least 60 percent from the floor, and that's Giannis from the 2023-24 season.
At this point, there is nothing else for Giannis to prove. He is one of the best players in the world, and he alone has consistently put the Bucks in a position to contend in the Eastern Conference. When it comes time for the playoffs, Milwaukee has simply been outmatched every single year because the era of one player carrying teams is no more.
As the competition and competitiveness across the league have increased, the Bucks have fallen behind. Although the organization went all-out to acquire Damian Lillard in 2023, sacrificing Jrue Holiday in the process, they didn't improve their outlook whatsoever. So, here they are, facing major questions about Antetokounmpo's future.
Giannis loves Milwaukee. The two-time NBA MVP has gone on record multiple times stating how much he loves his city and the Bucks organization. But at some point in every player's career, the question of change always becomes a talking point. Very few players spend their entire careers with one organization not only because of their personal search for greatness but also due to situations going stale.
Is that happening with Giannis and the Bucks after yet another early playoff exit? It is clear to see that Antetokounmpo has been mentally frustrated all season, and now that Lillard is out indefinitely with a torn Achilles, the 30-year-old forward enters the offseason truly facing a crossroads as to what his future in the NBA is looking like.
Will Giannis Antetokounmpo decide that he no longer wants to be the face of the Milwaukee franchise? Could we see one of the biggest trades in NBA history unfold in the offseason with one of the best players in the world?
The clock has officially started for Giannis with the Bucks being eliminated from the playoffs yet again by the Pacers.
Will Giannis Antetokounmpo request a trade?
No matter who is on the floor next to Giannis, the nine-time All-Star expects to win. But the fact of the matter is that has not happened in Milwaukee since their championship run in 2021. Although the Bucks did win a playoff series in 2022, they failed to reach the Eastern Conference Finals that season. Now, this organization has come up short in the first round of the playoffs in three straight years, losing in five games to the Pacers.
This loss stings for Giannis. Forgetting everything about his accolades and records and all of that — Giannis wanted to win Game 5 in Indiana because of Lillard. After seeing his teammate, his friend, go down with a torn Achilles in the Game 4 loss on their home floor, Antetokounmpo felt like he had an obligation to lead the Bucks to a win to avenge Lillard.
Although he wanted to win this game to keep their postseason hopes alive, all Giannis could think about was his teammate.
“I don't care about losing the game and all that. I feel like we owed this game to Dame. That's what I felt,” Antetokounmpo told reporters after Tuesday's loss in Indiana. “I felt like when he came back, maybe earlier than he was supposed to, he went down and sacrificed his body for us. And I felt like, as a team, win or lose, home or road, playoff game or no playoff game — the least we could do is show up and win a game for Dame.
“Obviously, it hurts we didn't win the game, but it hurts more that we weren't able to win the game for Dame.”
Once again, the Bucks enter the offseason without a clear vision for the future. Giannis has put together three straight terrific seasons, some of the best we have seen from an individual in NBA history, yet his franchise has not achieved anything in the postseason.
Antetokounmpo has never signaled to the Bucks that he is thinking about leaving. While he has dropped very subtle hints about his long-term future and outlook in Milwaukee, Giannis has always made sure to put any rumors to rest by making it clear that the Bucks are his franchise and where he wants to be.
However, there comes a time when even the most loyal and the best of the best reach their tipping point. Lillard is out for the foreseeable future, Khris Middleton is no longer with the organization, and Giannis will be tasked with carrying what was an inconsistent roster into the 2025-26 season.
Giannis and the Bucks' brass will meet face-to-face to thoroughly discuss his future and the direction of the organization following their first-round exit to the Pacers.
Has the time come for Giannis to seriously consider if he wants to stay with the Bucks heading into the summer? Antetokounmpo was asked this very question in the immediate aftermath of losing to the Pacers, and he shook his head because he knew there was no right answer he could give.
“I'm not going to do this. I'm not going to do this. I know how this (is) going to — Whatever I say, I know how it's going to translate,” Giannis said in obvious frustration of being asked about his future not even an hour after being eliminated from the playoffs. “I don't know man. I wish I was still playing. I wish I was still competing and going back to Milwaukee. I don't know.”
Speculation surrounding Giannis has been at an all-time high this season. Giannis has been subject to the league's “superstar syndrome” in the sense that we always feel the need to create buzz about stars who aren't always winning championships.
Nobody knows what Antetokounmpo is actually thinking right now, and anyone saying otherwise is simply doing so to create their own narrative of the situation. The Bucks star keeps to himself a lot of times, and he has a small circle of people he trusts. There has never been a time when information was leaked from Giannis' camp, and all the rumors surrounding him are subjective.
Not once has Antetokounmpo blamed anyone but himself for the Bucks' misfortunes this season, and he approaches every challenge in life as an opportunity to grow. Even after losing to the Pacers in five games, Giannis claims he still believes in this team.
“Me and my teammates left everything on the floor. Everything we had on the floor. I believe in them today. I believe in them tomorrow. I always believed in them, and now, I always believe we can win a game. I believe we'll never go away.”
Now an offseason of mystery has started for Milwaukee.
While it is unlikely that Antetokounmpo would actually request a trade, especially given the respect he has and his relationships with Doc Rivers, general manager Jon Horst, and the hierarchy of the Bucks organization, there are major questions that will need to be addressed in Milwaukee this summer outside of the obvious rumors tied to the superstar forward and Dame's injury.
Veteran center Brook Lopez will be an unrestricted free agent. Bobby Portis has a player option that he will likely utilize to earn more money on the open market. For the first time in a long time, the Bucks will have the ability to potentially operate below the tax aprons.
All of this factors into Milwaukee's big-picture approach and what Giannis' future looks like. Then again, there is still a level of uncertainty surrounding the vision Horst has for his team.
Strong relationships exist in Milwaukee
Giannis is the face of this franchise.
Without him, the Bucks are nothing more than a mediocre team in the Eastern Conference. He is the heart and soul, as well as the identity, of this organization, which is why Horst and all of the executives in Milwaukee's front office have their work cut out for them to prove that the Bucks are still a title-contending franchise Antetokounmpo can win with.
When Horst pulled the trigger on a deal that sent Middleton to the Washington Wizards for Kyle Kuzma, he did so to give the Bucks a better chance at winning during the second half of the season and in the playoffs.
Middleton was struggling coming off his double ankle surgeries last offseason, and he was not performing at the level this organization needed him at so they could achieve lofty championship goals. The decision to trade Middleton was not met with swift approval from everyone in Milwaukee, sources said. Even Giannis had his own doubts about doing so.
While Antetokounmpo gave his “approval” after the team consulted with him, he did not actually think his teammate, who he views as a brother, would be traded before Feb. 6. Giannis always held a strong bond with Middleton, which is why league sources described his “approval” as more of a sense of accepting the inevitable at the time.
No matter how tough saying goodbye would be, Antetokounmpo sided with his front office and Horst, whom he holds a lot of respect for. There are not any ill feelings between the star and the Bucks' front office, and the two sides have maintained a strong relationship through the years, sources said.
While Giannis doesn't have the final say in every move made, Horst and the Milwaukee brass do consult with him on major team decisions, which any star player in the NBA would appreciate.
However, Antetokounmpo doesn't have the final say in every move, as was the case in the Middleton trade and when the organization moved on from Budenholzer in 2023. He was even kept in the dark about Griffin being fired halfway through the 2023-24 season.
When a decision to fire Budenholzer was made, Horst did so with the intention of bringing in a proven, championship-level coach like Nick Nurse, sources said. However, Griffin's relationships with the organization and Horst himself earned him the role.
Once Griffin was fired, Horst made it known at the time that he was in favor of hiring Golden State Warriors assistant Kenny Atkinson, sources said. Instead, ownership wanted former NBA champion and future Hall of Fame coach Doc Rivers on the sidelines. Rivers signed a four-year, $40 million contract that runs through the 2026-27 season.
Many around the league are now wondering what the future holds for Rivers after back-to-back seasons ending in a first-round playoff exit. Giannis likes Doc, as do many of the other players in the Bucks' locker room, but Horst will have the final say on all decisions moving forward after he was recently awarded a multiyear extension.
Despite Rivers not utilizing some of the talents Milwaukee's front office brought in at the trade deadline the way they envisioned, it is hard to imagine Horst starting over yet again on the coaching front. These two — coach and general manager — have formed a strong bond, and Rivers believes in Horst's vision for the team.
Rivers made it clear recently that Horst is the reason for the Bucks' championship roster in 2021, and he believes that the executive can build another roster capable of winning a title. If he were to be fired, Rivers would be a scapegoat, as the bottom line is that this team has not been good enough to win since he took over.
“I love Doc. I think he's a great human being,” Giannis said on Tuesday night in Indianapolis. “He's been in the NBA for 50 years. I don't know how many years, but a lot of years. I remember when I was a kid, I watched him on TV. I just love him not only as a coach, but a person. I think he's a great person. If you're not a good person and a good coach, you cannot be around for this long.
“I love working for him.”
Bucks' immediate future faces uncertainty
The Bucks understood that there was the possibility of taking a small step back before the 2023-24 season when they fired Budenholzer and hired Griffin. This team has not recovered from that change in philosophy and championship mentality. With Giannis and Dame, anything short of a championship will be viewed as a disappointment.
That is why Milwaukee is entering a critical offseason and must be willing to make the right roster changes to maximize the prime years of Giannis' career.
Whether the Bucks move on from Lopez is the first big domino that will fall. After making $23 million this season, the veteran center is set to be an unrestricted free agent at 37 years old. While he is a beloved teammate, Lopez has been a liability at times on the court because of his lack of athleticism and offensive production in Rivers' system.
In Milwaukee's Game 5 loss on Tuesday, Rivers elected to start Portis in place of Lopez, resulting in him only playing eight minutes off the bench.
If Lopez departs, the Bucks would have the ability to create financial flexibility for themselves, something that has not been present in Milwaukee for quite some time. Now that Lillard is going to miss a vast majority, if not all, of the 2025-26 season with his Achilles injury, there is no time better for Horst to have options regarding how funds are allocated.
Gary Trent Jr. will be a free agent the team looks to retain, and the Bucks also valued Kevin Porter Jr.'s production down the stretch run of the season, sources said. These are two secondary players the team hopes will return for the 2025-26 season.
Since Giannis and Dame will make over $108 million combined next season, there will obviously be some conversations about what happens with Kuzma. The 29-year-old forward still has two more years left on his contract, which declines in value, and Horst could potentially look to get creative with certain trade ideas to add more talent around Giannis utilizing this contract.
Combining Kuzma with Pat Connaughton's $9.4 million deal, assuming he opts into his player option, creates a buffer of over $30 million for the Bucks to potentially add key talents on the trade market. Milwaukee does not own a first-round pick this season, but they will own the 47th pick in the draft. Horst will also have the ability to discuss the team's 2031 and 2032 first-round picks.
There are clear options for how the Bucks will look to operate heading into the summer. Whether they can execute and attract high-level talent to play alongside Giannis with Lillard out is the big question that will loom large for the multi-time All-Star forward as he evaluates his future.
Outside of Milwaukee, plenty of teams will constantly check in on Giannis' availability. The Brooklyn Nets have been the most frequent team mentioned as a potential landing spot for Antetokounmpo if he ever departs the Bucks, and they have plenty of assets to outbid virtually any team other than the Oklahoma City Thunder, who aren't a realistic landing spot for Giannis if he's traded this offseason.
The Golden State Warriors are another team that has always been at the top of potential suitors for the Bucks star. Giannis has long been on Golden State's wish list, and the organization made a call to the Bucks at the trade deadline regarding Antetokounmpo, sources said. This was before acquiring Jimmy Butler and after their failed pursuit of Durant.
Unless the Warriors were to move on from Butler, which won't happen, or Draymond Green in a massive package that would practically wipe out the rest of their roster, acquiring Giannis isn't a realistic scenario.
That leaves the Miami Heat and San Antonio Spurs as two other teams worth discussing when it comes to Giannis trade rumors. Pat Riley has never been afraid of going after the best stars in the league, and his team is in clear need of an alpha. But it would be hard seeing Antetokounmpo jump ship in Milwaukee and want to go to a team that just got swept by the Cleveland Cavaliers, being outscored in this series by 122 points.
The Spurs are a very intriguing situation to talk about for Antetokounmpo, Kevin Durant, and other stars who could possibly be on the move. With De'Aaron Fox and Victor Wembanyama, San Antonio has signaled that they are in the market to improve right now. Just imagine what that trio of Fox, Wemby, and Giannis would look like. Good luck stopping that frontcourt duo!
Several other teams would obviously jump in the mix if the Giannis sweepstakes kicked off in the summer, but there are no indications at this time that he is going to want out. Antetokounmpo is never one to quit on his team, and he made it very clear in his postgame remarks that Dame has been at the front of his mind.
It would not be fair to Lillard for Giannis to leave, and it truly does seem like this is something Antetokounmpo will take into account when he sits down and actually has time to think about his future in the league. Does he want to be known as a guy who jumped ship when things went wrong, or does he want to stick through the tough times to achieve something greater than he could've ever imagined?
The clock has certainly started for Giannis and the Bucks this offseason, and only time will tell what the future holds for one of the best players in the world.
