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What has transpired with the Milwaukee Bucks over the last few seasons has led to what will be an offseason full of trade rumors surrounding Giannis Antetokounmpo.
For the third straight year, the Bucks have fallen in the first round of the playoffs after losing Game 5 of their first-round series to the Indiana Pacers on Tuesday. This marks the second straight season that Milwaukee has fallen victim to Indiana in the first round.
At some point, every star player in the league has to sit down and evaluate their situation. LeBron James has done it, Stephen Curry has done it, and Kevin Durant has done it. Although Curry remained in his current situation while the other two superstars opted to change teams multiple times, they each had to look in the mirror and figure out what they wanted the future of their respective careers to look like.
That is what Giannis is going to face this summer.
Are the Bucks the same championship-level organization they were when Antetokounmpo led them to a championship in 2021? Does Giannis truly want to remain with one franchise for his entire career? Is there a path to Milwaukee flipping their recent misfortunes and surrounding Giannis with win-now talent?
These are all relevant questions about the future of the Bucks, and Giannis will need to come up with some answers. As of right now, Antetokounmpo doesn't know what his future holds.
“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 not even an hour after being eliminated from the playoffs on Tuesday night. “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.”
All that matters in Milwaukee heading into the offseason is Antetokounmpo's future. Almost every team in the league would do anything to add a player of his caliber, and should Giannis hit the trade market, it could create another seismic change like we just saw with Luka Doncic going to the Los Angeles Lakers.
The bottom line is that the Bucks won't willingly trade Giannis. If he is to be on the move, it will be because he requested a trade and the team he has spent 12 years with and won a championship with respect to his wishes. In this event, Milwaukee would do everything they could to maximize the value they get back, but they wouldn't shade Antetokounmpo by sending him somewhere he wouldn't want to be.
While the clock has started for Giannis and the Bucks to decide about their futures, a waiting game has also ensued for the rest of the league, especially those who would be at the front of the line to make a legitimate trade offer for the two-time MVP.
San Antonio Spurs
Out of all the possible teams Giannis could be traded to, the San Antonio Spurs would be the most intriguing. After trading for All-Star point guard De'Aaron Fox this past season, the Spurs have signaled to the rest of the league that they are preparing to create a roster around Victor Wembanyama that can contend immediately.
Could that mean Antetokounmpo is the missing piece?
Just think about Fox playing in the pick-and-roll with both Giannis and Wemby, as well as that two-way frontcourt duo annihilating opposing teams on both sides of the floor. Teams can't stop these two big men alone, so if the Spurs were able to pull off a trade with the Bucks, they would be creating arguably one of the best duos in league history.
The Spurs have Stephon Castle, Keldon Johnson, Devin Vassell, and Jeremy Sochan as young talents who could be leveraged in a trade, as well as a ton of first-round picks. San Antonio will own two lottery picks in this year's draft. To remain relevant, perhaps the Bucks could get the Phoenix Suns involved since they want to offload Bradley Beal.
Could we see a potential multi-team trade where Giannis is moved to San Antonio, Beal goes to Milwaukee, and versatile forwards like Harrison Barnes or Johnson go to Phoenix?
If Giannis requests a trade and wants to team up with Wembanyama and Fox, all the Spurs need to do is find shooters to put around their All-Stars. This could instantly make San Antonio a title-contending threat once again.
Brooklyn Nets
The Brooklyn Nets are the team that has come up the most in connection with Antetokounmpo. While rumors exist that the Bucks star would want to play in New York if given the opportunity, the real attraction to a team like the Nets is a fresh start with a big-market team that has proven they will find winning talent to surround their stars with.
That was the case when Kevin Durant and Kyrie Irving were in Brooklyn, and that would once again be GM Sean Marks' goal if he were to bring Giannis to the Nets.
What would really make the Nets' pursuit of Giannis or another star the best it could be is if they won the first-overall pick via the NBA Draft Lottery and could select Cooper Flagg. The idea of pairing Flagg with a player like Giannis and an electric scorer like Cam Thomas generates a lot of intrigue to believe in Brooklyn's ability to contend in the East.
The only reason Giannis would want to go to the Nets is if he truly wants to play for a big-market team like New York at the top of his list. Other than that, leaving the Bucks to go to Brooklyn would be a momentary downgrade for the two-time MVP who wants to win right now.
Miami Heat
The chances of Giannis jumping ship in Milwaukee to join a Miami Heat team he has battled with as a rival for years are slim to none. Even so, the Heat are still worth mentioning as a top suitor for Antetokounmpo and virtually any other star player who becomes available because this team needs help.
After being embarrassed by the Cleveland Cavaliers in their first-round series and after all the drama the Heat dealt with regarding Jimmy Butler's situation, Pat Riley is ready to take his team in a different direction. A solid foundation with Tyler Herro and Bam Adebayo exists, but the Heat clearly need an alpha on their roster to go along with these two All-Star talents.
Giannis would fit perfectly with what Miami needs given his size, two-way abilities, and championship mindset. Herro is a great scorer and shooter who could play off Antetokounmpo, and Adebayo has proven to be able to create opportunities for others with the ball in his hands. That would take a lot of pressure off Giannis to have to do everything, which has been responsible for in Milwaukee.
The only problem with the Heat is that they lack trade assets. Andrew Wiggins is a player the Heat will likely leverage in any trade discussions, but his value has declined drastically since being traded by the Golden State Warriors. It is hard to imagine a package of Wiggins, Jaime Jaquez Jr., Terry Rozier, and any of the Heat's young talents would be enough to convince the Bucks.
Riley does have access to all of his team's first-round selections from 2028 through 2032 entering the offseason, so expect the Heat to be creative with their search for a true superstar.
Houston Rockets
Like the Nets, the Houston Rockets have also been mentioned periodically as a possible landing spot for Giannis if he were to leave the Bucks.
Ime Udoka has rapidly turned the Rockets into one of the league's better defensive teams that tends to play fast on offense and in transition due to their athleticism. If that doesn't fit the type of team Giannis would thrive on, I don't know what does. The Rockets have a ton of assets that they could offer up in a potential offseason trade, along with several valuable draft picks.
In addition to owning almost all of their own picks from 2027 through 2032, the Rockets own the Phoenix Suns' picks in 2025, 2027, and the rights to swap with Phoenix in 2029.
By attaching a handful of these draft picks with young assets like Jalen Green, Jabari Smith Jr., Reed Sheppard, and/or Cam Whitmore, the Rockets can put themselves at the front of the line for any superstar talent that becomes available. When looking at the opportunity to win and his fit with a potential new team, the Rockets make the most sense as a suitor for Giannis this offseason.
Longshots to trade for Giannis Antetokounmpo
There are a few teams that will be brought up in connection with Giannis if he were to hit the trade block because of the big markets they reside in. Those teams are the Los Angeles Lakers, Los Angeles Clippers, and Philadelphia 76ers.
All three organizations would obviously be interested in adding Antetokounmpo, but whether such a move would be feasible for them is the question at large.
The Lakers pulled off one of the league's most stunning moves ever when they traded Anthony Davis for Luka Doncic at the trade deadline. Now that Doncic is in Los Angeles, there is a clear championship vision for this organization long after LeBron James is ready to retire. If this were NBA 2K, Rob Pelinka and the Lakers would trade for Giannis in a heartbeat to pair him with Luka and LeBron.
However, the Lakers' financial situation is complicated, regardless of whether James restructures his contract by opting out. Los Angeles also has access to only a couple of first-round picks in trade talks. Essentially, the Lakers' package would consist of Austin Reaves, Rui Hachimura, Dorian Finney-Smith, and Gabe Vincent.
That won't get the job done for Giannis compared to what other teams could offer, and it would leave the Lakers without any bench.
In the Clippers' case, a deal for Antetokounmpo would result in needing to part ways with Ivica Zubac, Norman Powell, and Bogdan Bogdanovic, who the Bucks tried to acquire in 2020 before the Serbian decided he didn't want to go to Milwaukee. Los Angeles also can't offer an outright first-round pick until 2023. This is an even worse situation in terms of a potential package than the Lakers.
At this point, the 76ers would be willing to do anything possible to contend for an immediate title with Joel Embiid. Philadelphia thought that Paul George would be the answer, but this season was a complete disaster. If there were a path to the Sixers turning George and other assets into Giannis, Daryl Morey would be elated.
The chances of this happening are essentially zero, as the Bucks certainly would not want to bring in George to replace Giannis, and the best young talent the Sixers could offer is Jared McCain.
As much as the Lakers, Clippers, and 76ers would want to get involved for Giannis, they simply lack the assets to potentially pull off a trade.
Keep an eye on the Timberwolves, Warriors, Thunder for Giannis
There are three dark horse teams that exist as possible suitors for Giannis should he decide to request a trade in the offseason.
The Golden State Warriors are first on the list — a team that has long pursued Antetokounmpo and has checked in on virtually every offseason. Even before finalizing a deal for Jimmy Butler this season, the Dubs checked in with the Bucks about their future with Giannis.
It is no secret to anyone around the league that Joe Lacob and the Warriors' brass would love to pair Giannis with Stephen Curry, as the two have made it known they share a strong mutual respect for one another.
Before trading for Butler, Golden State was at the front of the line for a potential Antetokounmpo trade. After acquiring Butler and seeing the positive impact he's made, there is no chance that Mike Dunleavy Jr. and this front office are going to flip him for another star. Butler has been everything the Warriors have wanted next to Steph, and this team remains in a title-contending position.
The only way that Golden State could possibly be in the mix for Giannis without giving up Steph or Jimmy is if they did a sign-and-trade of Jonathan Kuminga in a package that also includes Draymond Green, Moses Moody, and a player like Trayce Jackson-Davis. While this trade would technically work financially, it would leave the Warriors with basically three stars and limited funds to fill out the rest of their roster.
As much as the Warriors would want Giannis, the chances of him moving to San Francisco have declined drastically since Butler's arrival.
Two other dark horse teams are the Minnesota Timberwolves and the Oklahoma City Thunder. These are two younger organizations that have solidified themselves as real threats in the Western Conference, who find themselves in differing positions about how they could get a trade done.
Sam Presti and the Thunder can make any trade they want at any time due to all of the draft picks they own. Oklahoma City basically has two or three first-round picks every year, some of which are lottery selections, which instantly creates an attractive trade package. The Thunder also have young players like Jalen Williams, Aaron Wiggins, Cason Wallace, and Nikola Topic.
If the Thunder wanted to throw eight or more first-round picks at the Bucks to acquire Giannis, they could do so and outbid any other team around the league. However, after winning 68 games with the youngest team in the league, it's unlikely that Oklahoma City will look to shake up its roster in the summer.
The Timberwolves, on the other hand, will likely see some drastic changes. Although new ownership has signaled that money will be of no value in terms of building a championship-contending roster, Minnesota has been a second-apron team. If they are to keep Naz Reid and Nickeil Alexander-Walker, the Wolves would once again have one of the highest payrolls in the league.
Trading for Giannis would not be a move to cut salaries by any means, but establishing a superstar duo of Anthony Edwards and Antetokounmpo creates a path to move off Rudy Gobert's long-term contract. But the problem with Minnesota's pursuit of a star like Giannis, Kevin Durant, or any other player is that their first-round picks are locked up.
When it comes to big trades potentially occurring in the offseason, especially regarding Giannis, expect to see the Warriors, Thunder, and Timberwolves loom large as dark horses.
