NBA trade deadline: Six proposals for Giannis – which one will the Bucks choose?
Giannis Antetokounmpo and the Milwaukee Bucks are closer than ever to a potential trade.
While this does not guarantee that the two-time MVP will find a new team by Thursday’s deadline, it indicates that franchises throughout the league are analyzing contracts and evaluating draft pick assets to determine sufficient value to offer Milwaukee.
According to league sources who spoke with ESPN’s Shams Charania last week, four teams have surfaced as prominent contenders for Antetokounmpo: The Golden State Warriors, New York Knicks, Miami Heat, and Minnesota Timberwolves.
Which team can present the most advantageous offer? Which franchises might assist in facilitating the trade? Which star players could join the Bucks? What other contenders might enter the discussions regarding Giannis?
NBA analysts Zach Kram and Kevin Pelton outline trade scenarios from the Warriors, Knicks, Heat, and Wolves—along with two alternative options—that meet Milwaukee’s criteria for an ideal return. Additionally, NBA front office expert Bobby Marks, acting as Bucks general manager Jon Horst, evaluates each proposal and selects a preferred option.
Jump to a Giannis trade:
Warriors | Knicks | Heat | Timberwolves
Two wild-cards | Verdict: Marks’ best deal
What every NBA franchise can offer Bucks
Warriors trade everything to form Giannis-Steph duo
Golden State Warriors receive:
Giannis Antetokounmpo
Myles Turner
Milwaukee Bucks receive:
Jimmy Butler III
Jonathan Kuminga
Brandin Podziemski
2026 first-round pick
2028 first-round pick
2030 first-round pick (if 1-20)
2031 first-round swap
2032 first-round pick
Golden State, which can trade up to four of its own first-round selections and possesses a suitable matching salary in the injured Butler, has the clearest route to a two-team trade that provides Milwaukee with young talent, picks, and salary cap flexibility. Butler’s contract will expire next season, and he could yield value at the 2027 deadline if he recovers from an ACL injury that has sidelined him for the remainder of this season.
In this scenario, the Warriors also relinquish two swaps and Podziemski to accommodate Kuminga’s trade request and acquire Turner. This would result in a congested frontcourt for Golden State, alongside incumbents Draymond Green and Al Horford, although the Warriors would likely want to manage their minutes and Antetokounmpo’s recovery from another calf injury. — Pelton
Marks’ analysis: No trades involving Giannis will be straightforward, but this is the most uncomplicated given the absence of a third team. The Warriors are essentially allowing Milwaukee to dictate the terms of the deal without including Stephen Curry. The added benefit for the Bucks is the potential to secure a fifth first-round pick if they can trade Butler at next year’s deadline.
play2:05Why Stephen A. wants to see Steph and Giannis team up
Stephen A. Smith discusses his desire to see Giannis Antetokounmpo join the Golden State Warriors before the NBA trade deadline.
Giannis to Knicks, KAT to Blazers in three-team blockbuster
New York Knicks receive:
Giannis Antetokounmpo
Jrue Holiday
Portland Trail Blazers receive:
Karl-Anthony Towns
Mikal Bridges
Miles McBride
Milwaukee Bucks receive:
Jerami Grant
Matisse Thybulle
Guerschon Yabusele
2026 first-round pick (from Wizards via Knicks, top-eight protected)
2029 first-round pick (best of Bucks, Trail Blazers, and Celtics)
Return of 2030 swap rights (via Trail Blazers)
2030 pick swap via Knicks
2032 pick swap via Knicks
Any trade involving Antetokounmpo moving to the Knicks is inherently complex. The Bucks are reportedly looking for young players and draft picks in exchange for their star, but the Knicks have limited assets in that regard. New York’s top eight scorers are all 25 or older, and the only tradeable first-round pick they possess is a top-eight-protected selection from the Wizards, which is highly unlikely to convey. (It would convert into second-round picks in 2026 and 2027.)
This framework would satisfy multiple requirements. In addition to sending Antetokounmpo to New York, it would provide the Knicks with an ideal backcourt partner for Jalen Brunson and reunite Antetokounmpo with Holiday, five years after they won a championship together in Milwaukee. It would also return to the Bucks two future picks they sent to Portland (along with Holiday) in the unsuccessful Damian Lillard trade, granting them flexibility in the post-Antetokounmpo era. Furthermore, it would significantly enhance the Trail Blazers’ roster as they pursue their first playoff appearance since 2020-21. McBride could quickly become the best guard in Portland, and lineups featuring Bridges, Deni Avdija, Towns, and Donovan Clingan could thrive on both ends.
Whether that upgrade—and shedding Grant’s contract—is worth the additional draft capital could be a point of contention for the Blazers. Milwaukee would also need to determine if it prefers to receive fewer picks while regaining control over its draft future instead of opting for a return with more selections from another team. Additionally, New York would condense its two major acquisitions from last season (Towns and Bridges) into one larger star. However, this type of trade structure is essential to facilitate Antetokounmpo’s move to Madison Square Garden and holds some appeal for all parties involved. — Kram
Marks’ analysis: This trade hinges on how much Milwaukee values regaining control of its 2028 and 2030 first-round picks. If those picks are deemed vital to the Bucks’ rebuilding efforts, a deal could be feasible. The potential obstacle is the $70 million owed to Grant over the next two seasons and the lack of a young player for Milwaukee to build around. The trade appears more like Milwaukee rectifying a mistake made in the Lillard trade of 2023.
Heat acquire their latest superstar
Miami Heat receive:
Giannis Antetokounmpo
Milwaukee Bucks receive:
Tyler Herro
Terry Rozier
Kel’el Ware
2029 first-round pick
2030 swap rights
2031 first-round pick
The Heat may not possess the most draft picks or the most promising young talent to offer Milwaukee, but they do have a combination of both, including two tradeable first-round picks, a promising 21-year-old center in Ware, and a former All-Star (and Wisconsin native) in Herro. The Heat could also consider trading Jaime Jaquez Jr., a candidate for Sixth Man of the Year this season, but they would need to ensure they retain enough talent to remain competitive alongside Antetokounmpo.
Miami’s best opportunity to acquire the two-time MVP might hinge on whether Antetokounmpo desires to move to South Beach and if the Bucks choose to honor that wish. Such targeting does not always succeed—see: Lillard’s move to Milwaukee instead of Miami—but since the Heat cannot present the most compelling overall offer, they require some intangible advantage to finalize a trade.
It is crucial to note that this scenario assumes the NBA allows the use of Rozier’s expiring contract in a trade, despite his facing federal charges related to illegal sports betting. In December, ESPN reported that while “there isn’t guidance from the NBA regarding whether the Heat could trade Rozier, the fact that he remains on the roster suggests the Heat believe it is a possibility.” — Kram
Marks’ analysis: Given what other teams might offer, this trade is only likely to occur if Antetokounmpo’s camp indicates that the Heat is his sole preferred destination. The two unprotected first-round picks and Ware are valuable, but unless the Bucks can convert Herro into multiple first-round selections in a separate deal, it is challenging to envision Milwaukee trading and then extending the former All-Star to a significant contract this offseason.
Wolves engage Raptors, while Bucks secure draft assets for Giannis
Minnesota Timberwolves receive:
Giannis Antetokounmpo
Thanasis Antetokounmpo
Gary Trent Jr.
Milwaukee Bucks receive:
RJ Barrett
Joan Beringer
Rob Dillingham
Julius Randle
Terrence Shannon Jr.
2026 first-round pick (via Raptors)
2029 first-round pick (via Raptors)
2028 first-round swap (via Timberwolves)
2030 first-round swap (via worse of Timberwolves and Spurs for worse of Bucks and Trail Blazers)
2027 second-round pick (via Cavaliers)
2030 second-round pick (via better of Timberwolves and Warriors)
2031 second-round pick (via better of Rockets and Suns)
Toronto Raptors receive:
Cole Anthony
Jaden McDaniels
This scenario demonstrates how challenging it would be for Minnesota to provide sufficient value for Giannis. The Timberwolves are unable to trade a first-round pick and possess only one unprotected swap to offer. Minnesota would return quality players, matching Antetokounmpo’s salary with starting forwards McDaniels and Randle. Additionally, the Timberwolves would clear out their recent first-round selections, none of whom are currently in their rotation.
To acquire more draft picks, this arrangement has the Bucks sending McDaniels to Toronto in exchange for a pair of first-rounders. McDaniels’ manageable long-term salary (averaging less than $27 million through 2028-29) would align well with the Raptors’ young core, as would his 3-and-D skill set. Nevertheless, if this was genuinely all it took to acquire Antetokounmpo, teams not currently in the running would likely become involved—perhaps only to secure Antetokounmpo for the short term, similar to Toronto’s acquisition of Kawhi Leonard in 2018 that led to the franchise’s first championship. — Pelton
Marks’ analysis: Even with Golden State offering a substantial package, it is difficult to envision a trade surpassing what Milwaukee would receive from Minnesota and Toronto. This trade fulfills the requirements for draft equity, young players on manageable contracts, and veterans to build around or trade separately.
Wild card: Philadelphia proposes its star rookie
Philadelphia 76ers receive:
Giannis Antetokounmpo
Milwaukee Bucks receive:
Paul George
VJ Edgecombe
2028 first-round pick (from Clippers)
2030 first-round pick
The 76ers may decline to include Edgecombe in any trade discussions, given the promising start to the No. 3 pick’s career. They could choose to build around Edgecombe and Maxey as a long-term backcourt duo. However, GM Daryl Morey has consistently pursued stars, and he might not pass up the opportunity to create a contender with, arguably, three of the top players in the East. Assuming health, Antetokounmpo, Maxey, and Joel Embiid could lead Morey to his first Finals appearance—and the 76ers to their first conference finals since 2001.
This trade would also reduce the 76ers’ payroll below the luxury tax threshold and create a roster spot to convert one of the team’s effective two-way players (Dominick Barlow and Jabari Walker) to a standard contract.
For Milwaukee, the financial aspects of this deal equate to Edgecombe and one pick for Antetokounmpo, plus a second pick to absorb the two years and $110.7 million remaining on George’s contract after this season. George is eligible for trade despite beginning a 25-game suspension for violating the NBA’s drug policy over the weekend. His absence could actually benefit Milwaukee, which would presumably prefer to lose as many games as possible for the remainder of the season if they trade Antetokounmpo.
While this may not yield as many picks as the Bucks could secure from other trade partners, Edgecombe’s potential makes up for that difference. The 20-year-old rookie is averaging 15.4 points, 5.4 rebounds, and 4.2 assists and would be a valuable player to develop in Milwaukee. — Kram
Marks’ analysis: Do the Bucks value Edgecombe’s potential enough to accept the entirety of George’s remaining contract? If they do, Edgecombe and two unprotected first-round picks represent a strong return for Antetokounmpo. With George on the suspended list, Milwaukee would gain financial and roster relief, allowing them to sign another player. For the 76ers, a trio of Maxey, Antetokounmpo, and Embiid positions Philadelphia as a championship contender now, albeit at the expense of its future.
Wild card: Cavaliers propose a package centered around Mobley
Cleveland Cavaliers receive:
Giannis Antetokounmpo
Thanasis Antetokounmpo
Milwaukee Bucks receive:
Lonzo Ball
Evan Mobley
Jalen Wilson
2031 first-round pick (via Cavaliers)
Brooklyn Nets receive:
Max Strus
2030 swap (via Cavaliers)
2032 swap (via Cavaliers)
Mobley, who won Defensive Player of the Year and made All-NBA last season at age 23, has been the cornerstone of Cleveland’s future. With the Cavaliers’ current outlook appearing less stable, would the organization contemplate trading him to pair Antetokounmpo with fellow All-NBA first-team selection Donovan Mitchell?
Since Cleveland is currently over the second luxury tax apron and has no player earning as much as Antetokounmpo, a legal trade necessitates shedding at least $22 million in salary. They would achieve this by sending Strus to Brooklyn, which can absorb more salary using cap space. Milwaukee would receive two players on expiring contracts (Ball has a team option for 2026-27), an unprotected first-round pick in 2031, and a new cornerstone in Mobley. — Pelton
Marks’ analysis: This trade receives high marks for creativity, given Cleveland’s efforts to offload enough salary to comply with the second apron. Beyond finances
