Giannis Antetokounmpo, Bucks
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Giannis Antetokounmpo of the Milwaukee Bucks.
The Miami Heat are among the small handful of teams that Giannis Antetokounmpo would prefer to join after requesting a trade from the Milwaukee Bucks, and the Heat may narrowly possess the asset stores required to get a deal done.
ESPN’s Shams Charania reported Antetokounmpo’s desire to move on from Milwaukee on Wednesday, January 28, just days after the NBA superstar suffered a calf strain that will sideline him for at least a month.
“Two-time MVP Giannis Antetokounmpo is ready for a new home at the Feb. 5 NBA trade deadline or in the offseason as several rival teams make aggressive offers to the Milwaukee Bucks for him, and the franchise is starting to listen, league sources tell ESPN,” Charania posted to X.
Henry Abbott of TrueHoop reported on Tuesday that Antetokounmpo’s list of his top-three preferred destinations includes the Heat.
“One person told me that Giannis’ preferred list is three teams: the Heat, the [Minnesota Timberwolves] and the [New York] Knicks,” Abbot said.
Because the deadline is just eight days away, Milwaukee remains the most likely team to employ Antetokounmpo as of February 6 (-110). However, DraftKings Sportsbook projects that the Knicks are +330 to trade for him by then, while the Heat are the next likeliest destination at +600. The Golden State Warriors are +750.
Miami potentially has the juice to land Antetokounmpo from the Bucks, but it is likely going to cost both of its tradable first-round picks plus Tyler Herro and the franchise’s top two rookie scale players, plus another contract.
Heat Would Have to Deplete Depth to Trade for Giannis Antetokounmpo
Tyler Herro #14 of the Miami Heat
GettyTyler Herro of the Miami Heat.
There are a couple schools of thought on what the Heat’s most valuable trade package offer might be. But assuming the Bucks want to bottom out over the remainder of the 2025-26 season with partial control of their first-round pick this summer, one grouping of assets makes the most sense.
Trade Proposal — Players: Herro, Kel’el Ware and Jaime Jaquez Jr.; Draft Assets: first-round picks in 2030 and 2032, first-round swap rights in 2029 and 2031; Expiring Contracts: Terry Rozier’s $26.6 million deal.
Rozier is under federal investigation stemming from gambling accusations, for which the NBA put him on leave in October. The general consensus is that the league is likely to allow the Heat leeway to move Rozier’s money as an expiring contract to help facilitate a trade.
His salary, plus Herro’s, would put Miami beyond the amount of money necessary to meet the NBA’s financial requirements for an Antetokounmpo deal — teams must essentially match incoming and outgoing salary in any trade, and the rules become more stringent when one or both teams is facing first- or second-apron restrictions.
Miami’s inclusion of Ware and Jaquez would be necessary to allow the Bucks to build in the near-term, as none of the Heat’s draft assets would arrive in Milwaukee for another three and a half years.
Their salaries total $8.3 million, which combined with Herro’s and Rozier’s contracts would necessitate the Bucks sending another player(s) to South Beach along with Antetokounmpo whose salary totals in the range of $12 million.
Andrew Wiggins Could Prove Pivot Point in Any Heat, Bucks Trade Involving Giannis Antetokounmpo
Andrew Wiggins
GettyAndrew Wiggins of the Miami Heat.
Another option for the Heat would be to include Andrew Wiggins along with Herro, which Miami would have to do if the league doesn’t allow the team to move Rozier’s deal as part of a trade. However, that might not be ideal for either side.
Wiggins is a winning player, and after giving up an All-Star-level scorer in Herro and two young depth pieces with high potential in Ware and Jaquez, the Heat would likely prefer to hold onto Wiggins to keep the team as competitive as possible in 2025-26.
Meanwhile, the Bucks would be better down the stretch of this season with Wiggins on the team, which isn’t going to be the goal if Milwaukee trades Antetokounmpo.
The Bucks will want to be good again immediately in 2026-27 given how much of their own draft capital they’ve traded away over the next several years, at which point Wiggins’ $30.2 million expiring contract could do them considerable good.
Depending on how Milwaukee looks at it, and how efficiently they could tank for as high of a pick as possible come this summer (they take the higher selection between themselves and the New Orleans Pelicans in Round 1 via swap rights), the Bucks might want Wiggins.
Thus, Wiggins and Rozier’s expiring contract are essentially interchangeable in the proposed trade above.