If there is one saying that fits the NBA trade deadline perfectly, it is to expect the unexpected. After all, that is what happened last year, as nobody thought the Dallas Mavericks would ever trade Luka Doncic. One year later, a quieter, less eventful NBA trade deadline appears to be on the horizon… that is, unless intel surrounding Giannis Antetokounmpo changes and he suddenly becomes available.
All eyes across the league are on the Milwaukee Bucks and Giannis' future, as he represents the biggest elephant in the room with just over one week to go before the trade season ends. If you ask any of the other 29 teams around the NBA, they are bracing for Antetokounmpo to hit the trade market. Some even think that could happen within the next eight days, which we will touch on shortly in today's column.
Giannis is seriously contemplating his future in Milwaukee, and recent reports from ESPN suggest that the Bucks are actively engaging in trade calls with teams about the two-time MVP.
One of the situations tied into this holding pattern with all of the Giannis rumors is Jonathan Kuminga's future with the Golden State Warriors. This is another big domino that teams around the NBA are waiting to see fall, as it's no secret that Kuminga wants a new home and the Warriors want to trade him.
However, Golden State executive Mike Dunleavy Jr. recently dropped a bar that had everyone around the league smirking: “When you make a demand, there needs to be a demand on the market.” Quite honestly, Dunleavy should be nominated for Executive of the Year for simply delivering this line in the wake of all the drama surrounding the Dubs and Kuminga since this past offseason.
The Bucks certainly have the biggest question mark ahead of the trade deadline, but it's the Warriors who find themselves in a peculiar position, one that could make or break Stephen Curry's final few years in the NBA.
That is where we will start today's column, as the Warriors' mindset of being one of the trade deadline's biggest buyers holds true just about a week away from Feb. 5.
What will the Warriors do with Jonathan Kuminga?
Golden State Warriors forward Jonathan Kuminga (1) looks to pass against the Toronto Raptors in the second quarter at Chase Center.
David Gonzales-Imagn Images
When Jonathan Kuminga was reinserted back into the nightly rotation by head coach Steve Kerr in the wake of Jimmy Butler's ACL injury, the Warriors expected Kuminga to hold a key role off the bench. In 30 minutes across two games, he scored 30 points and was delivering despite still being of the mindset that he doesn't want to stay with the team past the trade deadline.
Unfortunately for Golden State and Kuminga, he suffered a minor hyperextension that led to a bone bruise in his left knee. As a result, the former lottery pick missed both games the Warriors played in Minnesota, and he will miss his third straight game on Wednesday night against the Utah Jazz. At this moment, there is no timetable for Kuminga's return or whether he will be back on the court with the Warriors.
However, nothing has changed in terms of the Warriors' front office and their mindset to try and turn Kuminga's $22.5 million contract into a valuable player or two who can immediately contribute to this team's winning efforts this season. As long as Stephen Curry and Draymond Green are healthy with the depth around them, the Dubs believe they can compete come playoff time in the West.
That is why trading Kuminga and replacing him with a capable, two-way wing is essential, and that is also why the Warriors won't simply give in to Kuminga's demands and trade him for anything. Golden State holds no desire to take back any long-term money, and they would prefer to find a player who aligns with the contracts of Curry, Butler, and Green, all of whom will be free agents after the 2026-27 season.
In their efforts to find said player on a slim trade market, the Warriors have held direct conversations with the Miami Heat regarding former Dubs forward Andrew Wiggins, league sources told ClutchPoints on Wednesday. Wiggins, who was traded to Miami last season in the blockbuster Butler deal, fits the mold of a two-way wing Golden State is searching for, and sources say he's still highly viewed by almost everyone within the organization.
The talk around the league surrounding Wiggins is that the Heat have been searching for at least a first-round pick for the former All-Star forward. It is unknown if the Warriors have offered a clear first-round pick for Wiggins to this point in recent dialogue between the two teams, but they have engaged in trade conversations. One can assume Dunleavy is operating with a similar mindset to the Butler trade from a year ago.
Last season, the Warriors traded their 2025 first-round pick with top-10 protections to the Heat to acquire Butler, and that philosophy could apply this year with their 2026 first-round pick. These talks between the Warriors and Heat are very real, and Miami has shown interest in acquiring Kuminga, sources said.
When discussing this Wiggins-Kuminga swap scenario with rival front offices, many tend to believe that such a move could be a precursor for the Warriors to make an even greater move before the Feb. 5 deadline. Although Dunleavy and the Warriors have pushed back at the notion of trading Butler following his injury, league personnel believe trading for Wiggins could be a part of a larger scheme for Golden State to move Butler for either Anthony Davis or Giannis Antetokounmpo.
The Dallas Mavericks, who were fielding interest from the Atlanta Hawks and Toronto Raptors for Davis, no longer hold a market for their star big man. While it is unlikely that they would want to take on Butler's remaining salary for the 2026-27 season, the possibility of obtaining an unprotected first-round pick from the Warriors would raise an eyebrow in Dallas.
As for Antetokounmpo, he has been owner Joe Lacob's dream trade target ever since Kevin Durant departed in 2019. The Warriors are one of the many teams calling the Bucks about Giannis, which is why Golden State is operating with a patient approach with multiple options on the table before this year's trade deadline.
Miami and Dallas both hold interest in Kuminga, as do some other teams around the NBA. The Sacramento Kings' dream at the deadline would be moving either DeMar DeRozan or Malik Monk to acquire Kuminga, yet this won't happen unless more teams are involved. The Los Angeles Lakers also hold interest in Kuminga, yet the Warriors hold zero interest in anything LA could possibly offer, league sources said.
To this point, the Lakers have not made an offer for Kuminga, and the two teams have not engaged in back-and-forth trade dialogue, sources said. There is no path in which Los Angeles can acquire Kuminga from the Warriors without a few other teams also being involved.
Of course, the Warriors' current pursuit of Wiggins and dreams of landing Giannis are not a given. Kuminga remaining on the Dubs' roster past the trade deadline is still very much a possibility, especially if Antetokounmpo is to stay in Milwaukee past the deadline. Holding onto Kuminga and trading him in the summer, especially if he comes back from injury and performs well, is still a scenario we could realistically see play out.
Along with names already mentioned, the Warriors have also been connected to New Orleans Pelicans wing Trey Murphy III and Brooklyn Nets forward Michael Porter Jr. over the last few months. As previously reported here on ClutchPoints, Porter no longer appears to be on the Warriors' radar following brief conversations with the Nets at the start of 2026.
The Nets hold a high asking price of at least two first-round picks for Porter, and the assumption around the NBA is that he will remain in Brooklyn past the trade deadline as a result. That term “high asking price” also applies to Murphy and New Orleans, as the Pelicans are seeking a similar package to what the Nets got for Mikal Bridges from the New York Knicks in 2024, sources said.
This is a price the Warriors are not willing to pay, and while they will continue to talk with the Pelicans, Golden State is moving in other directions. That is why trade talks regarding Wiggins have picked up, and that is why the Warriors continue to be linked to Giannis, a dream they are pushing hard to try and make a reality next to Curry.
Antetokounmpo is the player the Warriors would be willing to relinquish all of their assets for and is at the top of their wish list, which leads to a major decision to come in the next eight days for Giannis and the Bucks.
Teams pressing for Giannis Antetokounmpo trade
Milwaukee Bucks forward Giannis Antetokounmpo (34) following the game against the Denver Nuggets at Fiserv Forum.
Jeff Hanisch-Imagn Images
Giannis is the center of attention around the NBA. Plenty of teams have called the Bucks since the start of 2026 regarding Antetokounmpo's potential availability, and a handful of teams have been pushing for the two-time MVP to be traded before the Feb. 5 trade deadline. As ESPN reports, Antetokounmpo appears ready for a new home and the Bucks are beginning to listen to offers for him.
The Heat, Warriors, and Toronto Raptors are among several franchises that have been pushing hard for an Antetokounmpo trade before the deadline, multiple league sources said. There are developing trades involving these teams, as well as the New York Knicks, that could be impacted by Giannis' decision.
Ever since reports from ESPN from this offseason pointing to Giannis wanting to play in New York, both the Knicks and Nets have been focal points in rumors connected to the Bucks' superstar. The Nets obviously have the ability to put together a lucrative offer centered around draft picks, yet it's the Knicks that seem to be the team everyone talks about as Antetokounmpo's “preferred destination.”
Well, we heard that before with Damian Lillard when he wanted to go to the Heat in 2023 before ending up with the Bucks. Perhaps we could see this happen with Giannis, especially because of how difficult a path to landing Antetokounmpo is for the Knicks eight days before the trade deadline.
Obviously, Mikal Bridges becoming trade eligible at the end of January changes some things for the Knicks, and maybe there is some sort of multi-team framework that could be drafted up involving Bridges, Karl-Anthony Towns, and other assets from New York. After all, Marc Stein has mentioned Jrue Holiday being on the Knicks' radar, which is notable given the veteran guard's relationship with Giannis dating back to their 2021 championship run in Milwaukee.
Still, sources close to the Knicks continue to downplay the notion that New York is shopping Towns on the trade market, and the persistent message of New York keeping its core group together this season remains. Is this just posturing, or is there actually more to this storyline?
This is why the NBA trade deadline is such a fun period of rumors and gossip, as it directly impacts future moves to come in June and July.
Along with being tied to Giannis, the Knicks have been active in trade talks as of late regarding French forward Guerschon Yabusele, as reported by ClutchPoints on Sunday. The Knicks have discussed potential Yabusele trades with both the San Antonio Spurs and New Orleans Pelicans, with Jeremy Sochan, Jose Alvarado, and Yves Missi all being players New York holds interest in.
League sources indicate that the Spurs have been exploring potential paths to trade Sochan, despite pushback from the organization, and there is a belief that San Antonio could also move on from veteran big man Kelly Olynyk. These two combined would give the Spurs over $20 million to play around with on the trade market.
Going back to Giannis — the Knicks certainly have competition, and it starts with the Heat.
Miami may just be in the best position possible out of any team to pull off a trade for Giannis before the trade deadline when it comes to the talent they can offer. Tyler Herro, who is a Milwaukee native, is joined by Kel'el Ware, Jaime Jaquez Jr., and Nikola Jovic as young assets that would be appealing to a Bucks team that would obviously enter a rebuilding phase without Giannis.
Not to mention, the Heat also have tradeable first-round picks in 2030 and 2032. It is possible that Miami could unlock its picks in 2026 or 2029 if able to acquire a draft pick in either 2027 or 2028 by trading Wiggins. Should Giannis remain with the Bucks past the trade deadline, the Heat will have access to their picks in 2026, 2030, 2031, 2032, and 2033.
That is why various teams continue to point to the Heat as being legitimate suitors for Antetokounmpo either right now at the trade deadline orin the offseason.
While the Heat are discussed as the team with the best talent to offer in a Giannis trade right now, rival organizations keep pointing to the Warriors and their slew of first-round picks as the most valuable draft picks since many of them will be after Curry retires. The best package of draft assets the Warriors could offer right now includes unprotected picks in 2026, 2028, and 2032, as well as swaps in 2027, 2029, and 2031.
No other team in the league, other than possibly Brooklyn, could put together as competitive an offer, assuming all of these picks would be in play for a potential Giannis trade.
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So many little details go into the idea of Giannis being traded and attempting to figure out where he could end up, but the key piece of information we still don't know is whether he has played his final game in a Bucks uniform after suffering another calf strain that will sideline him likely through the end of February.
Even though the expectation around the NBA is that he will remain in Milwaukee and Giannis will seriously consider his immediate future in the summer, teams continue to call the Bucks about the idea of something happening over the next eight days.
As a result, the trade market as a whole continues to be stuck in limbo.
How Giannis, Bucks impact rest of trade market
Chicago Bulls guard Coby White (0) dribbles the ball against the Minnesota Timberwolves in the second half at Target Center.
Jesse Johnson-Imagn Images
The Bucks have been doing everything they possibly can to try to add help around Giannis this season. In doing so, Milwaukee's trade calls have taken them a bunch of different directions, from Zach LaVine to Jerami Grant to Miles Bridges to De'Andre Hunter as of late, sources said.
Not much has developed regarding LaVine, despite the Sacramento Kings holding clear interest in moving him, and the Portland Trail Blazers seem to have turned their attention to being buyers instead of sellers at this year's deadline. While Grant and Holiday have been made available, league sources have indicated that the Blazers are open to moving Holiday if there is a means to immediately improve their outlook.
At 23-25 this season and currently in the West play-in picture, Portland is ready to take that next step from their rebuild and has a desire to find a star to pair with Deni Avdija and Shaedon Sharpe. Some type of move is coming for the Blazers over the next week, and it will likely be a sneaky, unexpected one that increases their chances of competing in the West.
Bridges has drawn a fair amount of interest around the league in what has become a very minimal forward market, and the Bucks have held discussions with the Charlotte Hornets regarding Bobby Portis, sources said. The Hornets do hold a level of interest in Portis as an experienced frontcourt piece, yet nothing has really materialized there. Charlotte would need more value than just Portis to move on from Bridges.
Much of the same can be said about Hunter and the Cleveland Cavaliers. The Bucks have attempted to center their offer to Cleveland on Kyle Kuzma, sources said. Kuzma is not a player the Cavs hold interest in, nor would they be able to make anything work salary-wise since they are a second-apron team.
The Cavs have received plenty of interest from teams in both conferences regarding Hunter and have been hesitant to trade the 28-year-old wing. While it is believed that Cleveland's front office is closely monitoring their cap situation and has explored ways to move out of the second apron, the Cavs have signaled that they don't want to take back less value than they gave up for Hunter last season, especially with the need many teams have for a player of his skills.
This next week will be very telling for the Cavaliers, as there has been conflicting info about what their true intentions at the trade deadline are. The majority's belief is that the Cavs will keep their roster together and attempt to make a minor move for a key secondary player.
Essentially, everywhere the Bucks look to make an improvement to their roster, they are met with complications since many teams continue to look at Giannis' situation. A handful of teams have been unwilling to discuss trade scenarios with Milwaukee because of their belief that Antetokounmpo will request a trade soon, sources said.
As a result, the Bucks are stuck searching for answers before the trade deadline.
Many teams have been operating with patience before the trade deadline due to Giannis' situation with the Bucks. Some trade talks have been put on hold until there is a clear answer in Milwaukee, and that is why this trade market revolves around Giannis. However, there are still several scenarios being discussed around the league, and you can look no further than Toronto to find trade dialogue.
Along with keeping a close eye on the Bucks and Giannis, the Raptors have been discussing several trade options to upgrade their frontcourt talent next to Jakob Poeltl, sources said.
Dallas Mavericks center Daniel Gafford and New Orleans Pelicans center Yves Missi are at the forefront of the Raptors' trade deadline plans. Missi is also drawing a lot of interest from the Chicago Bulls, who are holding separate conversations with teams regarding Coby White and Ayo Dosunmu.
To this point, indications from Chicago suggest that they would rather keep Dosunmu and extend him in the offseason over White.
As previously reported, both the Minnesota Timberwolves and Houston Rockets hold a level of interest in trading for White, and the LA Clippers are another team that continues to come up in conversations about Chicago's scoring guard. White is the best guard on the market right now, which is why he has generated wide interest around the league outside of these three teams.
Regarding Missi, both the Bulls and Raptors have held trade dialogue with the Pelicans. After being an All-Rookie selection a season ago, Missi does not hold first-round value in trade talks, and teams believe a deal involving him before the deadline that revolves around second-round picks is likely, sources said.
Whereas the Bulls spoke with the Pelicans about both Missi and Zion Williamson, the Raptors were focused on Missi and Trey Murphy III. Toronto has been aggressive this season on the trade market, and they brought up the idea of packaging RJ Barrett, Ochai Agbaji, and draft picks to acquire both Missi and Murphy from New Orleans, which sources said was something the Pelicans weren't willing to do.
While the Pelicans have been receptive to trade calls, they have remained firm on their high asking prices for both Murphy and Herb Jones — multiple first-round picks and young talents with potential. Instead of attempting to trade either wing, the Pelicans have been focused on attempting to create a market for Jordan Poole and Dejounte Murray.
It is believed that Klutch Sports and Murray would like a change in scenery, especially with the veteran guard finding himself in a crowded backcourt upon returning from his Achilles injury. As far as what the Pelicans are looking for in general, league sources have indicated that New Orleans is trying to obtain a first-round pick in the 2026 NBA Draft, something they may not be able to do until the offseason.
In talks with Toronto, the Pelicans have not shown interest in moving Murphy. But trading Missi to Toronto is very much in play, as the Raptors want to add another big man and dip below the luxury tax this season.
Although the Raptors have expressed interest in stars like Anthony Davis and Domantas Sabonis, there has been no movement on either front, sources said. Toronto is said to be prioritizing moves, like Gafford or Missi, over ripping their core apart to pursue Sabonis in Sacramento. Sabonis is still an option for the Raptors, but head coach Darko Rajakovic and the players have made it clear to front-office personnel that they do not want this roster to change much.
Going from Toronto to Sacramento, the Kings will be making at least one move before the trade deadline, and that involves selling Keon Ellis to the highest bidder. Ellis will be traded within the week, and over half the league has expressed interest in acquiring the defensive-minded swingman because he is on a minimum-like contract.
What team will end up with Ellis, you may ask? Take the logo of every playoff team, throw them in a hat, and then choose one. That is basically what Ellis' market is right now, and it will come down to which team offers the Kings the most assets in return.
No teams have expressed much interest in LaVine or DeRozan to this point, sources said. Nothing ever came of the Clippers possibly acquiring both Ellis and DeRozan, but perhaps that's something that could be revisited within the next week. However, this is unlikely to happen with how well the Clippers have been playing as of late.
Our last piece of intel for today points in the direction of the Indiana Pacers and an upcoming move involving Bennedict Mathurin. The talk around the NBA is that the Pacers are in discussions with multiple teams regarding Mathurin, and it is very likely he will be traded before Feb. 5.
The Pacers have expressed interest in several notable centers around the league, including Gafford, Missi, and Ivica Zubac, sources said. Should Mathurin not be traded and remain in Indiana through the conclusion of the 2025-26 season, he will be a prime sign-and-trade candidate as a restricted free agent, as the Pacers do not want to give him a long-term, high-paying contract.