Giannis Antetokounmpo, Warriors
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Giannis Antetokounmpo of the Milwaukee Bucks complains about a call after he was fouled by Draymond Green of the Golden State Warriors.
The Golden State Warriors received an unexpected boost in their pursuit of Giannis Antetokounmpo as two franchises with deeper draft capital and younger blue-chip talent signaled they will not enter the bidding.
According to ESPN reporters Tim MacMahon and Michael C. Wright, neither the San Antonio Spurs nor the Houston Rockets plan to pursue Antetokounmpo, narrowing the field of realistic suitors and reshaping the trade landscape.
“Could the San Antonio Spurs be involved? The simplest answer I can give you is no,” MacMahon said on the Howdy Partners podcast. “Based on what they’ve told us, they’re not part of this.”
Wright reinforced that position, citing the Spurs’ long-term approach around Victor Wembanyama.
“You can go all the way back to the summer, when people were trying to connect the Spurs with Giannis, and the people I talked to told me they hadn’t even had a conversation,” Wright said. “There was no interest. Giannis doesn’t fit San Antonio’s timeline.”
Spurs Staying Patient Around Victor Wembanyama
San Antonio’s stance has remained consistent throughout Wembanyama’s first two seasons. Rather than accelerating into an all-in move, the Spurs have prioritized internal evaluation and gradual roster building.
“The thinking there has always been — and (Spurs general manager) Brian Wright has said this repeatedly — that they need to see what they have around Victor first before making any major moves,” Wright said. “I think they feel like they have enough around Victor at this point.”
Despite possessing the type of assets Milwaukee would covet — including No. 2 overall pick Dylan Harper and reigning Rookie of the Year Stephon Castle — the Spurs appear unwilling to sacrifice their developmental runway for a win-now swing.
Rockets Also Decline to Shorten Timeline
Houston, another franchise frequently mentioned as a potential Giannis suitor, is operating with a similar philosophy.
“It’s honestly the same thing with the Houston Rockets,” MacMahon said. “It’s not hard to figure out who would have to be involved in a deal like that, and it would be Alperen Şengün.”
MacMahon added that Houston has no appetite to disrupt its young core for a short championship window.
“They are not punting on the future of Şengün to go all-in on essentially a Giannis–KD type team right now,” he said.
The Rockets’ young core includes Şengün, Amen Thompson and former No. 3 pick Reed Sheppard — three players viewed internally as long-term pillars.
“What that approach does is give them a two-to-three-year window where they’re evaluating things, with the hope of having a decade-long contending window,” MacMahon said. “Şengün and Amen Thompson are expected to be in Rockets uniforms for a long, long time.”
Warriors’ Package Gains Relative Strength
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GettyThe Golden State Warriors are reportedly ready to send a massive trade package to the Bucks for Giannis Antetokounmpo by the trade deadline.
With the Spurs and Rockets effectively out of the race, the Warriors’ offer now compares more favorably among teams willing to engage Milwaukee.
Golden State does not possess the same volume of blue-chip prospects, but it can assemble a competitive combination of salary relief, draft capital and upside talent.
The Warriors can offer Jimmy Butler’s nearly $57 million expiring contract next season, Jonathan Kuminga, and up to four first-round picks. Alternate constructions could include Draymond Green alongside Golden State’s young rotation players.
While Kuminga has yet to consistently translate his athletic upside into wins without Stephen Curry, he remains a 23-year-old former lottery pick with developmental appeal. Wisconsin native Brandin Podziemski and Moses Moody profile more as complementary pieces but could help fill out a rebuilding roster.
That blend of expiring salary, draft flexibility and youth aligns with the type of reset Milwaukee could prioritize if it ultimately moves Antetokounmpo.
Bucks’ Patience Remains the Final Variable
ESPN’s Shams Charania previously reported that Milwaukee is open to listening to offers but remains in no rush, preferring to evaluate options into the offseason if its price is not met.
With two of the league’s deepest asset pools opting out, Golden State’s path has become clearer — though not necessarily easier.
The remaining question is timing: whether the Bucks choose to maximize leverage by waiting until the summer or accept the strongest available package before the Feb. 5 trade deadline.
For the Warriors, the math has shifted. The competition has thinned, the window is open and the stakes are unmistakable.