All eyes are on the Milwaukee Bucks and Giannis Antetokounmpo with the 2026 NBA trade deadline less than a week away. Is this the moment Giannis, after years of speculation about his long-term future being with the Bucks, is finally on the move and continues his Hall of Fame career somewhere else?
At this time, it's safe to assume that Antetokounmpo's future in the NBA will be with one of the other 29 teams. The only question is whether he is dealt before Feb. 5 or if executive Jon Horst and the Bucks hold off on making this franchise-altering decision in the summer. Either way, almost nobody around the NBA believes Giannis will be in Milwaukee come time for the start of the 2026-27 season.
For months, the word from Milwaukee has been consistent regarding Giannis. Every team that called Horst and the Bucks about the two-time MVP was met with a swift and firm rejection, and even Giannis made it publicly known in an exclusive one-on-one with Sam Amick of The Athletic that he would never request a trade from the organization he has spent his entire career with.
That remains true, as Giannis has still not formally requested a trade, but both he and the Bucks are aware of what is on the horizon. That is why Horst and his staff have been more receptive than ever on trade requests for Antetokounmpo before this season's trade deadline.
Giannis has done everything he could for the Bucks over the years. He is their all-time leader in almost every major statistical category, and he was the main reason why this organization was able to raise a banner in 2021. No matter where he goes, the Bucks' lore will always start with Giannis, and his number will be hanging in the rafters in Milwaukee one day.
The time has come for Antetokounmpo to move on, especially with the Bucks taking major steps back over the last few seasons and failing to surround their superstar with adequate talent needed to compete for another championship.
With the trade deadline less than a week away, the Bucks' decision to trade Giannis directly revolves around what assets rival teams are offering.
Bucks' key talking points in Giannis trade discussions
Milwaukee Bucks forward Giannis Antetokounmpo (34) following the game against the Denver Nuggets at Fiserv Forum.
Jeff Hanisch-Imagn Images
Trading Giannis has suddenly gone from a myth to the Bucks' reality ahead of this season's trade deadline. Even if they hold onto him and finish the 2025-26 season with Antetokounmpo on their roster, the fact that Horst and his staff are seriously considering offers right now signals that a trade will happen either now or in the summer.
Unlike Luka Doncic last year, who the Dallas Mavericks did not make available and hear out every team's offer for, the Bucks' phones are open to everyone's best offer. However, this organization has made its asking price very clear for its legend.
The Bucks won't accept anything less than a trade package involving all of the team's draft picks and young players. After all, this is Giannis we are talking about. If he were to join any of the teams highly involved in discussions with the Bucks before the deadline, he would instantly make them favorites to win the NBA Finals.
So, who are some of those teams actively pursuing Giannis? As reported on ClutchPoints and from various outlets, the Golden State Warriors, New York Knicks, Minnesota Timberwolves, and Miami Heat have been the four prominent suitors for Giannis before the trade deadline, and all of these teams have been making their case to the Bucks' leadership.
As of this moment, nobody really knows where Giannis wants to go.
There has been a lot of speculation about New York being Antetokounmpo's preferred spot after reports of “exclusive negotiations” the Bucks held with the Knicks before the 2025-26 season, but Giannis has also been on the record saying how much he likes the games of both Anthony Edwards and Stephen Curry.
It is also worth pointing out that Giannis is represented by Octagon agent Alex Saratsis, who also represents Heat All-Star Bam Adebayo. Saratsis also works closely with Jeff Austin at Octagon, who just so happens to represent Curry.
The main reason all of these little details regarding Giannis are so important is that nobody really knows where or who Antetokounmpo wants to go and play with for the foreseeable future.
Although the Bucks will demand an enormous amount of assets from any team they eventually trade Giannis to, the organization also wants to do good by him. Antetokounmpo will obviously have a say in where he ends up being traded to, and the Bucks will explore every avenue to get Giannis exactly what he has told them behind closed doors, information that is not known by anyone right now.
But at the same time, Horst and his staff have a job to do, and that's to make sure the future of the Bucks is set up to succeed long-term without Antetokounmpo. That is why the Bucks are very much open to the idea of trading Giannis over the course of the next six days leading up to the trade deadline.
Advantage to making Giannis trade at deadline
Milwaukee Bucks forward Giannis Antetokounmpo (34) during warmups prior to the game against the Denver Nuggets at Fiserv Forum.
Jeff Hanisch-Imagn Images
Since before the 2025-26 season, the Bucks' leadership had been working extremely hard to get Giannis capable, win-now talents so the franchise could compete at the highest level right now. This mindset led to the risky move of waiving Damian Lillard and signing Myles Turner in free agency.
Milwaukee has also attempted to trade for multiple notable talents since the start of the season. Zach LaVine, Jerami Grant, Andrew Wiggins, Michael Porter Jr., and De'Andre Hunter are all players the Bucks have either held direct trade discussions about or inquired about this season.
But no move has been made by Horst and his staff because of their lack of assets and the team's struggles. Not to mention, the giant elephant in the room has been Antetokounmpo's eventual departure, and the time for this dreaded scenario in Milwaukee has finally come.
Perhaps waiting until the summer makes a little bit of sense for the Bucks to try and maximize their return for Giannis.
The Knicks will have access to two tradeable first-round picks they won't currently have, and the Heat's first-round assets, which could be included in a trade, will jump from two to four. Every team will also have access to their 2033 first-round pick, giving the Bucks a chance to gather even more assets deep into the future to ensure a successful era after Antetokounmpo.
At the same time, there are also some major advantages to trading Giannis right now, and none are bigger than the fact that this franchise currently has some leverage over their star player. By fielding all of the offers and being willing to trade Antetokounmpo before the trade deadline, the Bucks know not only which teams are serious in their pursuit of Giannis, but just how far each team is willing to go.
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For example, the Warriors are making their entire arsenal of draft picks available in trade talks for Giannis, along with young talents like Jonathan Kuminga, Moses Moody, and Brandin Podziemski. The Bucks know how much the Warriors can offer, and that essentially sets a very high asking price from other teams.
Will the Heat be willing to go all-in and surrender Tyler Herro, Kel'el Ware, Jaime Jaquez Jr., Kasparas Jakucionis, and first-round draft picks for Giannis? That may very well be what it takes if Miami is to win the Giannis sweepstakes.
As for teams like the Knicks and Timberwolves who don't have the same amount of picks as the Heat and Warriors, are they able to flip their current stars and high-level talents for what Milwaukee would want? Whereas the Knicks have Karl-Anthony Towns, Mikal Bridges, and OG Anunoby, the Timberwolves have Julius Randle and Jaden McDaniels.
Waiting until the offseason to make a Giannis trade could open more assets up from certain teams for the Bucks to potentially gain, but all of the offers are clearly present before the trade deadline. None of the offers will get better from a talent perspective, so Milwaukee's decision will basically be determined by where they want to receive draft picks from.
Even if some teams have more draft picks to offer, maybe the best deal currently on the table won't be there several months from now. That is the risk the Bucks will take if they do not trade Giannis before the Feb. 5 deadline. Also, waiting until the offseason takes all the leverage away from Horst and the Bucks.
Since Giannis owns a player option for the 2027-28 season, he will essentially be operating in the final year of his contract next year. No team will want to trade for him and surrender all of their valuable assets unless they have firm confirmation that he would sign an extension, which is why it would be Giannis in the driver's seat with all the leverage over Milwaukee.
Even without a no-trade clause, Antetokounmpo would be the one to dictate where is ultimately goes, whereas right now, before the trade deadline, the Bucks and Giannis can work together to find something that works for everyone.
Of course, the biggest advantage to the Bucks trading Giannis right now actually favors the superstar and his money on a potential contract extension this upcoming offseason.
Why Giannis should want a trade right now
Milwaukee Bucks forward Giannis Antetokounmpo (34) looks on during the second quarter against the Denver Nuggets at Fiserv Forum.
Jeff Hanisch-Imagn Images
Urgency is the best word to describe Giannis' situation with the Bucks. Maybe he has yet to officially ask for a trade, but the Bucks understand what their star player ultimately wants, which is why they are suddenly aggressive in trade talks with teams inquiring about the superstar.
As previously mentioned, Milwaukee obviously holds a high asking price, and there are teams willing to sacrifice everything to make obtaining Giannis their reality.
There are obviously clear advantages to the Bucks finding a trade for Giannis before the Feb. 5 deadline, and a deal right now tends to make the most sense for Antetokounmpo as well. This is not only because of his urgency to be a part of a winning organization, but also due to Giannis' contract situation.
The 31-year-old signed a three-year, $175.3 million extension with the Bucks in October 2023. That means Giannis will be entering Year 2 of this extension and be eligible for another supermax deal in October before the 2026-27 season begins.
However, should Antetokounmpo be traded, he won't be able to sign a contract extension with his new team for six months. Essentially, as long as he is traded before Feb. 5, Giannis can sign the four-year, $275 million extension with his new team before the 2026-27 season with no issues.
But if the Bucks wait until the offseason to trade Giannis, he won't be able to sign this mega extension until January 2027. Over the course of the next week leading up to the trade deadline, this could wind up being a key talking point from Giannis' camp that puts pressure on the Bucks to make a move right now.
Besides, both sides understand that this relationship is over, so why not just rip the band-aid off and get this over with?
The longer Giannis is in Milwaukee, the more negative media attention will be cast their way. As much as it may pain the Bucks to do, it is time to trade Giannis Antetokounmpo before the trade deadline.