Bucks star Giannis Antetokounmpo is “ready for a new home,” either at next week’s trade deadline or this offseason, reports ESPN’s Shams Charania.
According to Charania, multiple teams have made “aggressive” trade offers for Antetokounmpo and the Bucks have begun listening to those pitches. While rival clubs have gotten the sense that Milwaukee is more open than ever to weighing offers on or before February 5, the Bucks have conveyed that they’re willing to wait until the summer to address the forward’s future if their asking price isn’t met, Charania writes.
Sources tell ESPN that the Bucks are believed to be seeking “blue-chip young talent” and several draft picks in any deal involving the two-time MVP. Waiting until after the 2026 draft lottery to make a deal could give Milwaukee a clearer sense of exactly which picks teams are prepared to offer for Antetokounmpo, Charania notes.
Antetokounmpo told The Athletic earlier this month that he’ll “never” come out and say he wants a trade, and that it’s not in his nature to make such a request. However, Charania hears that Giannis and the Bucks have had “honest and open conversations” about the future and that the 31-year-old has suggested to the team “for months” that he thinks it may be time to part ways.
The Knicks reportedly spoke to the Bucks about a possible Antetokounmpo trade last offseason after Giannis identified New York as a preferred landing spot. Those talks didn’t go anywhere, but Ian Begley of SNY.tv tweets that the Knicks will be among the teams aggressively pursuing Giannis now that Milwaukee is apparently prepared to open up the bidding to a larger group of suitors.
The Heat will also be in pursuit of Antetokounmpo, tweets Barry Jackson of The Miami Herald. As we relayed earlier today, a Marc Stein report named Miami as a possible frontrunner for the Greek star, with Stein citing a “vibe of confidence” coming from the Heat.
Although the Knicks and Heat will be among the teams trying to land Antetokounmpo, neither club is loaded with the type of draft assets that the Bucks would presumably be seeking in a blockbuster of this magnitude. The Knicks don’t currently have any tradable first-round picks, while Miami can offer just two first-rounders as a result of a protected 2027 pick owed to Charlotte that creates Stepien rule complications.
As Yossi Gozlan of The Third Apron points out (via Twitter), both teams would be better equipped to pursue Giannis in the offseason, when the Heat could offer up to four first-round picks (one would be conditional) and the Knicks could offer two.
The Warriors are also considered a likely suitor for Antetokounmpo, with Brett Siegel of ClutchPoints referring to him as Joe Lacob‘s “dream” trade target. Golden State has indicated it would be willing to offer a package that includes Jimmy Butler (who recently suffered an ACL tear), Jonathan Kuminga, and multiple draft picks, sources tell Chris Mannix of SI.com.
The Warriors have traded their 2030 first-round pick with top-20 protection, but could still offer first-rounders in 2026, 2028, and 2032, and could even include that ’30 pick in a package by attaching 21-30 protection.
The Raptors are another club with legitimate interest in Giannis, Siegel adds. Toronto controls all of its future first-round selections.
Trade speculation has swirled around Antetokounmpo for years and has gained steam since last spring, when the Bucks were eliminated in the first round of the playoffs for a third straight year as star point guard Damian Lillard suffered an Achilles tear.
Milwaukee’s front office aggressively reshaped the roster around Giannis in the offseason, waiving and stretching the final two years of Lillard’s maximum-salary contract in order to bring in center Myles Turner, one of the top free agents on the market. But those moves haven’t paid dividends for the Bucks, who fell to 18-27 on the season on Tuesday and are three-and-a-half games out of a play-in spot in the Eastern Conference.
The Bucks have scoured the trade market during the season and made players like Kyle Kuzma and Bobby Portis available as they look to improve their roster, but they haven’t gained traction on any deal they like. Charania suggests Antetokounmpo’s uncertain future and Milwaukee’s lack of appealing trade assets have complicated that search for roster upgrades.
Jake Fischer of The Stein Line reported over the weekend that rival teams believed the prospect of an Antetokounmpo trade was becoming more realistic. Reiterating that point today, Fischer says (via Twitter) multiple sources viewed last Wednesday’s loss to Oklahoma City – and Giannis’ comments after the game – as a point of no return for the Bucks and their longtime star.
Charania reported last week that Antetokounmpo’s frustration level was at an “all-time high” and writes within his latest story that the uncertainty around the forward’s future has resulted in some unease and tension in the Bucks’ locker room.
Antetokounmpo is currently sidelined by a calf strain and appears unlikely to suit up again before next Thursday’s trade deadline. The Bucks haven’t provided a projected timeline for his recovery, but Giannis predicted after sustaining the injury last Friday that he’d be out for four-to-six weeks.
With Milwaukee struggling to win games and Antetokounmpo not expected to play anytime soon, the team could be incentivized to pivot to tanking mode – with or without a Giannis trade – during the second half of the season in order to secure a favorable pick in the 2026 draft. The Bucks don’t control their own selection, but they’ll have the last favorable of the Pelicans’ first-rounder and their own — given that New Orleans holds a 12-37 pick, even the lesser of those two picks should end up firmly in the lottery.
Antetokounmpo is earning $54.1MM this season, with a guaranteed $58.5MM salary for 2026/27 and a $62.8MM player option for ’27/28. He’ll be eligible to sign a new maximum-salary extension as of this October.
