The Giannis Antetokounmpo/San Antonio Spurs trade speculation isn't top of mind these days. Funny how beating the unbeatable Oklahoma City Thunder in a neutral-site NBA Cup game that most people involved admitted came with slightly higher stakes will do that.
Is it an overreaction? Especially considering the author of this piece wrote about how OKC may prove the very reason the Silver and Black should pull the trigger for the Greek Freak?
Perhaps.
But, the reality is that the Spurs have captured a couple of statement wins in the last week, with their latest triumph making a thunderous noise.
In talking w/@JeffGSpursZone @LockedOnSpurs several days ago, the would-be Giannis trade came up
In what seems like it could be an especially timely thought now, my answer didn't focus on the #Spurs or Bucks, but OKC
Last night gave us reason to believe we have a better sense⬇️ pic.twitter.com/KOWlVJSKEJ
— Hector Ledesma (@HectorLedesmaTV) December 14, 2025
The Spurs are finding ways to win
Heading into the NBA Cup semifinals, San Antonio beat a healthy Los Angeles Lakers unit in the City of Angels without Victor Wembanyama. That Cup quarterfinal came on the heels of a road win at the New Orleans Pelicans in which the Spurs played poorly in the second half yet still hit big shots down the stretch. The two wins were part of a 9-3 stretch without their generational talent.
That instead of crumbling, they thrived showed the first proper steps a contender takes. They won shorthanded – consistently and at the highest level at that – as well as found ways when not at their best.
The Silver and Black started the season without De'Aaron Fox. Just before the 2023 All-Star debuted, second overall pick Dylan Harper suffered a calf strain. About two weeks later, Wemby and Stephon Castle went out in back-to-back games. As much talk as there is about the Spurs young core and their pieces and assets to make a legitimate offer for Antetokounmpo, they hadn't been whole until the Cup semis vs. Oklahoma City.
Spurs send message in victory vs Thunder
Wembanyama played just 21 minutes vs. OKC with 22 points, nine rebounds, and two blocks. Harper, who even in missing three weeks because of injury has stood out as a rookie, didn't play particularly well with eight points on 3/13 shooting. Harrison Barnes had a rare off-night with six points on 2/10 from the field, and the Spurs went just 41% from the floor, including 31% from three-point range.
They still beat a now 24-2 team that tied the best 25-game start in NBA history.
Will it prove a one-off?
The outlook says probably not.
While Shai Gilgeous-Alexander, Chet Holmgren, and Jalen Williams are 27, 24, and 23 years old, Wemby, Fox, Castle, and Fox are 21, 27, 21, and 19. Though Oklahoma City has more draft capital through the end of the decade, the Spurs have a war chest of picks of their own.
The NBA Cup semifinals were supposed to show that San Antonio was still a little ways away. It would provide further insight that acquiring Antetokounmpo would help put the unproven squad over the top.
Instead, Fox and Castle each scored 22 while Devin Vassell added 23, and Wemby dominated in limited action while fending off rust.
It won't be long before they meet again; December 23 in the Alamo City and on Christmas Day in Oklahoma. Maybe things change again by then, and the Giannis trade talk is revived.
After all, it hasn't taken long for one shift to happen already.
