Giannis Antetokounmpo, Warriors
Getty
Giannis Antetokounmpo of the Milwaukee Bucks stands on the side of the court during their game Golden State Warriors.
The Golden State Warriors had already positioned themselves for a potential Giannis Antetokounmpo blockbuster before ESPN’s Shams Charania reported that the Milwaukee Bucks had begun listening to trade offers.
According to Sports Illustrated’s Chris Mannix, Golden State has made it known internally and around the league that it is prepared to assemble a massive trade package should Milwaukee become serious about moving its franchise star.
The Warriors’ interest goes beyond Antetokounmpo alone.
Warriors Eye Giannis Antetokounmpo–Bobby Portis Package
Speaking Tuesday on NBA on NBC, Mannix reported that Golden State’s exploratory framework includes both Antetokounmpo and Bucks forward Bobby Portis Jr. in a deal designed to meet salary requirements and maximize roster fit.
“Golden State continues to be aggressive in looking to find upgrades before the trade deadline,” Mannix said. “There’s no indication yet that Milwaukee is willing to deal Giannis. Most likely, the Bucks are not going to deal him before the deadline. But from what I’m told, the Warriors have made it known that if Milwaukee gets serious about trading Giannis, they’re ready to make an offer.”
Mannix said the proposed structure would center on Jimmy Butler’s expiring contract and Jonathan Kuminga, with Portis included to help balance salaries. Golden State would also need to include significant draft capital to satisfy Milwaukee’s demands.
“That’s out there,” Mannix added. “If Giannis becomes available, that’s something Golden State could push.”
Bucks Open Door, but Maintain High Threshold
One day later, Charania reported that Milwaukee has indeed become more open to listening on Antetokounmpo, who is currently sidelined with a right calf strain.
“Multiple teams have received a sense that the Bucks are more open than ever to Antetokounmpo offers between now and the deadline,” Charania wrote Wednesday. “However, Milwaukee has indicated to interested teams that the organization is not in a rush to complete a move and is willing to navigate Antetokounmpo’s future in the offseason if its believed price point of a blue-chip young talent and/or a surplus of draft picks isn’t met.”
Antetokounmpo, 31, becomes eligible to sign a four-year, $275 million supermax extension on Oct. 1. If no extension is reached, he could become an unrestricted free agent in 2027 by declining a $62.8 million player option.
By waiting until the summer, Charania added, Milwaukee could benefit from expanded draft availability and clearer cap structures across the league.
Butler’s Contract Central to Any Blockbuster
Stephen Curry, Draymond Green, Jimmy Butler, and Al Horford are all over 35 years old, and trying to compete in a Western Conference with young players yet to hit the prime of their careers is a difficult task.
GettyJimmy Butler III, Draymond Green and Stephen Curry of the Golden State Warriors huddle during a break in the game.
Golden State’s ability to enter the Antetokounmpo sweepstakes hinges on Butler’s contract.
Butler, 36, is owed nearly $57 million next season, making his deal a necessary salary-matching component in any Giannis trade. Despite that reality, Warriors general manager Mike Dunleavy Jr. has publicly downplayed the idea of moving the six-time All-Star.
“I don’t envision that,” Dunleavy said when asked about trading Butler. “My vision for him is to give us a boost next year, the same way he did last year when he arrived.”
Before suffering a season-ending ACL tear, Butler was still performing at a high level. In January, he averaged 21.3 points per game on 53% shooting and scored 17 points in just 21 minutes against Miami before the injury.
Warriors’ Longstanding Interest in Bobby Portis
Portis’ inclusion in Mannix’s reported framework is not new for Golden State.
The Warriors previously expressed interest in Portis last summer in discussions involving Kuminga, though Milwaukee ultimately declined, according to ClutchPoints’ Brett Siegel. The Bucks did retain interest in Kuminga during those talks.
Before Portis re-signed with Milwaukee on a three-year, $44 million contract, NBA insider Jake Fischer also linked him to Golden State.
“Golden State has always been a team to monitor for Portis,” Fischer wrote in The Stein Line newsletter in June. “He has a notable fan in head coach Steve Kerr from their shared time with USA Basketball during the 2023 FIBA World Cup.”
Draft Capital Gives Warriors Flexibility
Beyond Butler and Kuminga, the Warriors can offer up to four future first-round picks, giving them one of the deepest draft portfolios among contending teams.
That combination of expiring salary, young talent and draft capital places Golden State among the most structurally prepared teams should Milwaukee’s stance on Antetokounmpo shift from listening to dealing.
For now, the Bucks remain patient. But the Warriors, by all indications, are already prepared.