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LOS ANGELES, CALIFORNIA - JANUARY 09: Giannis Antetokounmpo #34 of the Milwaukee Bucks reacts on the sidelines during the first half against the Los Angeles Lakers at Crypto.com Arena on January 09, 2026 in Los Angeles, California. (Photo by Harry How/Getty Images) NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Harry How/Getty Images)
The Golden State Warriors made their move for Giannis Antetokounmpo before the trade deadline. It did not get very far. Now, with the offseason approaching and the Milwaukee Bucks in freefall, the picture around one of the most consequential trades in recent NBA history is becoming clearer.
ESPN’s Ramona Shelburne reported that the Bucks’ asking price for Antetokounmpo prior to the deadline was “enormous.” Golden State put together an offer of four unprotected first-round picks, but the proposal “never seemed to gain much momentum” with Milwaukee. One team executive described the Bucks’ demands as wanting “all our draft picks and good young player,” a price tag that reflects just how seriously the organisation values the two-time MVP even as his tenure in Wisconsin appears to be winding down.
The types of players Milwaukee was targeting were described as “younger building blocks.” Shelburne cited VJ Edgecombe and Evan Mobley as the kinds of names the Bucks had in mind.
Giannis Is Refusing to Shut Down as Bucks’ Season Collapses
The NBA rumor mill will be packed with speculation about Giannis Antetokounmpo this summer.
GettyThe Giannis Antetokounmpo trade conversation will dominate the NBA offseason this summer.
The situation in Milwaukee has deteriorated rapidly. The Bucks lost to the Utah Jazz by 32 points on Thursday night and have gone 2-10 in their last 12 games. They have fallen 7.5 games behind the Charlotte Hornets for the No. 10 seed in the Eastern Conference. A play-in spot, once a realistic target, now looks out of reach.
Against that backdrop, the organisation reportedly wants to shut Antetokounmpo down for the remainder of the season. He has other ideas.
According to Shams Charania, Giannis has refused the Bucks’ requests to sit out and wants to keep playing. The tension between a franchise managing its future and a superstar who simply wants to compete captures everything about where this relationship currently stands.
Why a Trade Has Never Felt More Likely
Earlier this month, Bleacher Report’s Eric Pincus reported that several executives across the league believe an Antetokounmpo trade has “never been more likely” than it is this coming offseason. The events of the past few weeks have done nothing to suggest otherwise.
Milwaukee is not close to being a title contender. The roster around Antetokounmpo has not been good enough for long enough, and the team’s collapse this season has accelerated a timeline that was already moving in one direction. The Bucks are approaching a crossroads that every struggling franchise eventually reaches. Hold on and hope things change, or move the asset while it still commands a premium return.
Antetokounmpo is a 10-time All-Star and one of the most dominant players the league has seen in a generation. The package required to acquire him will be steep regardless of when a deal gets done. Golden State’s four unprotected first-round picks were not enough. The question heading into the offseason is whether any team is willing to meet Milwaukee’s price.
Final Word for the Warriors
Stephen Curry #30 of the Golden State Warriors
GettyStephen Curry #30 of the Golden State Warriors.
Golden State swung for Giannis before the deadline and came up short. The Bucks wanted more than four unprotected firsts. They wanted younger building blocks too.
Whether the Warriors come back with a stronger offer this summer depends on how the play-in race plays out and what the roster looks like heading into the offseason. Porzingis is on an expiring deal. Curry is 38. The window for a superstar addition is not getting wider.
The Bucks will listen. The price will be high. Golden State already knows that better than anyone.