Seemingly every week, Milwaukee Bucks fans wake up to new details about a possible Giannis Antetokounmpo trade. Ahead of the February 5th deadline, Milwaukee and Antetokounmpo have seemingly never been closer to a split. While some Bucks fans may feel it’s time to firmly hit the reset button and jettison their 2-time MVP, general manager Jon Horst should feel no need to rush into a deal this February.
Jan 19, 2026; Atlanta, Georgia, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) dribbles the ball down the court against the Atlanta Hawks during the fourth quarter at State Farm Arena. Mandatory Credit: Jordan Godfree-Imagn Images
Giannis Antetokounmpo Trade Rumors Are Reaching An All-Time High
It’s hard to even remember when the Giannis Antetokounmpo trade rumors really began. They seem to have lasted for years, and during this disastrous season, have been re-shaped by a new storyline basically every week.
Currently, many media outlets are reporting that, despite interest from the Minnesota Timberwolves and the New York Knicks, the Golden State Warriors and the Miami Heat are in a two-horse race for Antetokounmpo’s talents.
The Heat and the Warriors are the two teams that are neck-and-neck in trade talks with the Bucks for Giannis.
Milwaukee wants “blue-chip young talent” or a surplus of draft picks. New York and Minnesota don’t have either. pic.twitter.com/USKQSxk9zT
— Polymarket Hoops (@PolymarketHoops) February 2, 2026
Both Miami and Golden State’s offers center around multiple young talents and a heap of draft picks. While fans can debate whether the Bucks should be more interested in a player like Jonathan Kuminga versus Tyler Herro, that is not the question the Bucks’ front office should be asking themselves.
Jan 24, 2024; Milwaukee, Wisconsin, USA; Milwaukee Bucks general manager Jon Horst address the media after head coach Adrian Griffin (not pictured) was dismissed at Fiserv Forum. Mandatory Credit: Benny Sieu-USA TODAY Sports
Milwaukee Cannot Afford to Rush A Giannis Antetokounmpo Deal
On the one-year anniversary of the absolutely shocking Luka Dončić trade, Antetokounmpo looks like he might be next-up as a monumental domino to fall. The Dončić deal was unfathomable for two reasons – one being that players as good as Luka are rarely ever traded, but also the out-of-the-blue nature of the move. Dončić is one of the league’s best players – but even he does not have the resume that Giannis does.
While both players have the otherworldly highlights and talent, only one of them has taken home an MVP award – and Antetokounmpo has done it twice. That doesn’t even count his Finals MVP, which of course came with the actual championship banner that he was able to help hang in Fiserv Forum. As transcendent of a talent as Luka is, Giannis is even better.
Jul 20, 2021; Milwaukee, Wisconsin, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) celebrates with the NBA Finals MVP Trophy following the game against the Phoenix Suns following game six of the 2021 NBA Finals at Fiserv Forum. Mandatory Credit: Jeff Hanisch-USA TODAY Sports
It’s likely that Milwaukee has been getting calls about Antetokounmpo for years now, but it’s impossible for fans to know how long the Bucks have been seriously fielding such calls. One thing is for sure – a team trading a player as good as Antetokounmpo cannot afford to rush anything.
The trade deadline represents exactly that – a deadline. But the reality is, Horst does not have to rush into a deal this February. Even if the Bucks bottom out and Giannis continues to be shelved with injuries, the summer represents a much better time to form a deal.
Jan 21, 2026; Milwaukee, Wisconsin, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) drives to the basket against Oklahoma City Thunder guard Cason Wallace (22) in the second half at Fiserv Forum. Mandatory Credit: Michael McLoone-Imagn Images
For one, NBA teams will have access to another 1st-round pick once we reach the summer. The 2033 crop of draft picks would then be able to be included in a deal. Particularly if dealing Antetokounmpo to the Warriors, that pick could represent a massive amount of value. Rushing into a deal now would mean that Golden State cannot offer that pick even if they want to.
Unless the situation escalates by something like a trade request – which Giannis has said he would never do – then Milwaukee continues to have all the leverage against suitors. This means that they can afford to be patient. With the looming deadline, it’s possible that a desperate Miami or Golden State would fork over a king’s ransom, but outside of a truly eye-popping offer, waiting until the summer is the most sensible course of action.
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