It appears Giannis Watch has taken one other flip.
Sources advised ESPN’s Shams Charania on Wednesday that Bucks famous person Giannis Antetokounmpo and his agent are having conversations with the franchise in regards to the two-time MVP’s future — with Milwaukee or elsewhere.
Antetokounmpo, who the Bucks stated suffered a proper calf pressure early of their win over the Jap Convention-leading Detroit Pistons, might miss time. However whether or not he’s on the courtroom or not, hypothesis about this saga’s subsequent step will proceed.
The place do issues at present stand between participant and franchise? Can basic supervisor Jon Horst, who has by no means shied away from making offers to construct across the Bucks famous person, swing one other to bolster the supporting forged? And which touchdown spots take advantage of sense ought to Milwaukee open commerce talks for Giannis?
Our NBA insiders study the commerce market and greatest potential matches for Antetokounmpo, together with 5 offers that would reshape the 2026 NBA title race and past.
Bounce to a piece:
The place the Giannis saga stands
Can Bucks construct round Giannis?
Giannis to: ATL | NY | HOU | SA | GS
The place do Giannis and the Bucks stand proper now?
A hush fell over Fiserv Discussion board solely three minutes into Wednesday’s recreation in opposition to the Pistons, when Antetokounmpo crumpled to the courtroom with a calf damage. And though the Bucks imagine they’ve averted the worst-case state of affairs — coach Doc Rivers stated the group has dominated out an Achilles damage — they are going to nonetheless look ahead to MRI outcomes to see how lengthy their star might be sidelined.
Earlier than the sport, Rivers vehemently denied the concept the group and Antetokounmpo have begun discussing the following steps, pointing to the Bucks’ present skid — Wednesday was simply their second win previously 10 video games — as the explanation Antetokounmpo’s future was in query.
Hypothesis additionally swirled round Antetokounmpo as a result of he not too long ago cleared out his social media feed, though a supply near him advised ESPN he had executed so a number of weeks in the past, not in response to the group’s latest struggles.
Milwaukee has believed a powerful season could be sufficient to quell hypothesis, however the group went 0-4 when their two-time MVP was sidelined final month with a groin damage.
Sources throughout the group advised ESPN on Wednesday they have been hopeful that when Antetokounmpo and Kevin Porter Jr. are wholesome, the Bucks might begin taking part in higher within the coming weeks. And so they noticed some proof of that when Milwaukee rallied for a victory behind 26 factors from Porter Jr. with Antetokounmpo sidelined.
“I believe [Giannis] might be happy with us that we have been in a position to come again and end the sport, get a win,” Porter stated after the competition.
Nonetheless, the remainder of the league might be monitoring Milwaukee carefully. Sources from a number of groups advised ESPN they have been assembly quickly to debate a possible commerce package deal for Antetokounmpo, focusing on Dec. 15, when gamers throughout the league who signed this previous offseason could be moved.
One factor to bear in mind is that Antetokounmpo is eligible to signal a four-year, $275 million extension with Milwaukee or a group he’s traded to beginning on Oct. 1, 2026. A group buying and selling for Antetokounmpo might want to trust that an extension is prone to occur earlier than giving up important gamers or draft picks. If there isn’t a extension, Antetokounmpo will seemingly develop into a free agent within the 2027 offseason. — Jamal Collier
Can the Bucks nonetheless enhance the roster round Giannis?
Do not underestimate Horst in the case of enhancing the roster round Antetokounmpo. Since 2020, Milwaukee has made 17 trades, together with offers for Jrue Vacation, Damian Lillard and Kyle Kuzma. With restricted choices this previous summer season, Horst took an unprecedented transfer, waiving and stretching the contract of Lillard to signal free agent middle Myles Turner. Because the Bucks tumble within the standings, and with Antetokounmpo’s future in Milwaukee in query, Horst might be requested if there’s yet one more transfer to bolster the supporting forged.
It is unlikely such a deal might be obtainable.
Whereas each participant on the Bucks roster is eligible to be traded beginning Dec. 15 aside from Ryan Rollins and AJ Inexperienced — Rollins will not be eligible till Jan. 15 and Inexperienced by no means — Milwaukee has boxed itself right into a nook by way of tradeable choices.
The roster options 11 gamers incomes between $2.2 million to $5.1 million, which leaves the Bucks with $60 million in contracts from Turner, Kuzma and Portis. All three gamers have at the very least two years remaining. Extra importantly, the Bucks do not management their very own first-round choose till 2031, leaving them with one tradeable first in that yr’s draft or in 2032. Milwaukee sending Pat Connaughton to the Charlotte Hornets to make room to signal Turner has left the Bucks with no second-rounders.
One space of energy? The Bucks are under each luxurious tax aprons sufficient to take again wage in a possible deal. They do owe $20.2 million to Lillard in every of the following 5 years, together with this season. — Bobby Marks
5 Giannis trades that might shake up the title race
Atlanta Hawks get:
Giannis Antetokounmpo
Cole Anthony
Bucks get:
Trae Younger
Zaccharie Risacher
2026 first-round choose (by way of higher of Pelicans and Bucks)
2027 first-round choose (top-four protected, by way of worse of Pelicans and Bucks)
2029 first-round choose (top-four protected 2029 to 2031, unprotected in 2032 if not conveyed)
2031 first-round choose (top-four protected in 2031 if eligible, in any other case unprotected in 2032)
Observe: Commerce can’t be accomplished till Dec. 15
The Hawks have the distinctive capability to assist Milwaukee regain its personal picks as a part of a post-Giannis rebuild. Technically, Atlanta solely controls shares of picks from the Bucks and New Orleans Pelicans, who obtained them within the Jrue Vacation commerce 5 years in the past. Nevertheless, the higher of their two picks in 2026 might very nicely land within the prime 5 and even the lesser of their 2027 choices ought to be strong.
Milwaukee would certainly ask for Wisconsin native Jalen Johnson in commerce talks, however I might maintain the road there if I am the Hawks. As is, they’re giving up a former No. 1 choose and an inexpensive shot at one other one in 2026, a worthy threat given the potential for Atlanta to develop into the East favourite with this commerce. Sending out a budding star in Johnson, whose five-year, $150 million extension now seems like a cut price, for simply two assured years of Antetokounmpo in a non-glamour market could be an excessive amount of to ask.
Flipping Younger to a 3rd group would most likely take advantage of sense for the Bucks. In a worst-case state of affairs, nonetheless, Younger’s contract would doubtlessly give Milwaukee cap aid as quickly as this summer season. — Kevin Pelton
Houston Rockets get:
Giannis Antetokounmpo
Thanasis Antetokounmpo
Bucks get:
Alperen Sengun
Fred VanVleet
2027 first-round choose (unprotected, by way of Suns)
With a 13-5 file, the No. 2 offense and the No. 3 protection within the league, the Rockets won’t wish to upset the apple cart. But when they may improve from Sengun to Antetokounmpo, they must at the very least think about it, given their probability to knock off the Oklahoma Metropolis Thunder and win a title this season and subsequent.
For all of Sengun’s many strengths, his effectivity continues to be solely common, whereas Antetokounmpo is among the most effective, highest-usage scorers in NBA historical past. He would match completely in Houston’s bodily, paint-based offense whereas nonetheless supplying the identical kind of frontcourt playmaking as Sengun.
For Milwaukee, Sengun represents one of the best participant it might realistically purchase in a commerce: a 23-year-old offensive middle who ought to make his second All-Star group this season. Partnering with Ryan Rollins in Milwaukee, Sengun would function the foremost constructing participant for the following period of the Bucks, who they want given their lack of first-round picks in upcoming drafts. Houston seemingly would not wish to provide many picks in the event that they’re together with Sengun in a deal, however a future unprotected first-rounder from Phoenix is engaging even when the Suns are taking part in higher basketball this season. — Zach Kram
New York Knicks get:
Giannis Antetokounmpo
Jericho Sims
Bucks get:
Karl-Anthony Cities
Pacome Dadiet
Tyler Kolek
2026 first-round choose (top-eight protected, by way of Wizards; in any other case, second-round choices in 2026 and 2027)
2028 first-round swap (worse of Bucks or Path Blazers for Knicks)
2030 first-round swap (worse of Bucks or Path Blazers for Knicks)
2032 first-round swap
Observe: Commerce can’t be accomplished till Dec. 15
Let’s be clear: The Knicks, after buying and selling 5 first-round picks for Mikal Bridges final yr, don’t have any probability of touchdown Giannis if the Bucks open commerce talks with a number of groups. New York has to hope Antetokounmpo pegs it as his desired vacation spot. The Knicks can not commerce any of their very own first-round picks, solely swaps and one first-rounder from the Washington Wizards that’s top-eight protected this yr and converts to second-round picks if not conveyed.
Definitely, a New York provide would come with important expertise. This building makes use of Cities, an All-NBA third-team choose a yr in the past, as matching wage. Alternate packages would seemingly be constructed round OG Anunoby and Josh Hart. If for some purpose Milwaukee desires to construct one of the best group attainable with out Antetokounmpo, the Knicks may also help it get there.
Extra realistically, the Bucks would wish to discover a taker for Cities, who would provide further draft picks. New York’s first-round swaps maintain some worth for Milwaukee as a result of they occur to fall in the identical years the Bucks’ personal first-rounder is swapped to the Portland Path Blazers. So there’s an opportunity for Milwaukee to maneuver again up even when the Knicks are increased within the standings these seasons. — Pelton
San Antonio Spurs get:
Giannis Antetokounmpo
Bucks get:
Stephon Citadel
Harrison Barnes
Kelly Olynyk
Jordan McLaughlin
2027 first-round choose (by way of Hawks)
2029 first-round choose
2032 first-round choose
Pairing Antetokounmpo with Victor Wembanyama would make for essentially the most fascinating basketball experiment. The value to speed up San Antonio’s timeline would not be low cost, costing a set of first-round picks and Citadel, the reigning Rookie of the Yr.
Nonetheless, the potential to group up two MVP candidates within the frontcourt may be too nice for the Spurs to withstand. Since drafting Wembanyama, they’ve already traded future property for one veteran All-Star, De’Aaron Fox, and Antetokounmpo is a way more invaluable participant than the previous Kings level guard. If Wembanyama is wholesome, a group with Fox, Antetokounmpo and Wembanyama — not to mention rookie guard Dylan Harper, Devin Vassell and standout reserves Luke Kornet and Keldon Johnson — might compete for the title this season. In any case, the Spurs are 15-6 with Fox, Citadel, Harper and Wembanyama all lacking time. And the Giannis-Wemby pairing might dominate for the following a number of seasons.
Citadel could be a first-rate pickup if the Bucks need to commerce their two-time MVP, as he appeared within the midst of a sophomore leap earlier than straining his left hip flexor final month. This deal would additionally enable them to refill a few of their barren draft coffers — albeit not with their very own picks. Milwaukee might moreover strive flipping Barnes, a veteran having a strong season, for added picks on the commerce deadline. — Kram
Golden State Warriors get:
Giannis Antetokounmpo
Thanasis Antetokounmpo
Bucks get:
Draymond Inexperienced
Jonathan Kuminga
Buddy Hield
2026 first-round choose
2028 first-round choose
2030 first-round choose (if 1 by way of 20)
2032 first-round choose
This might be a Hail Mary commerce for each groups.
Milwaukee might give Kuminga loads of runway to see if he is a long-term keeper, reroute Inexperienced, a confirmed winner and nonetheless elite defender, to a contender and extract the maximal choose package deal from Golden State, hoping that a few of these outlying picks might be extraordinarily profitable as soon as Stephen Curry retires.
For the Warriors, a blockbuster commerce would signify an try to interrupt out of the funk that has plagued them this season. Including Antetokounmpo could be a supercharged model of final season’s commerce for Jimmy Butler III and create a championship-caliber core, doubtlessly with sufficient depth behind that star trio to scare the Thunder and the West’s greatest groups.
Apart from {a partially} protected choose they owe to the Wizards in 2030, the Warriors nonetheless possess all of their future first-rounders. They should determine whether or not they’re holding onto these picks to construct for a post-Curry future, or whether or not they wish to go all-in to pry open Curry’s championship window one ultimate time. — Kram
One of the best commerce for Milwaukee is…
The considering in Milwaukee ought to be find out how to get two bites of the apple: gamers on controllable contracts that may assist now and first-round picks to rebuild draft choices.
There isn’t any incentive for the Bucks to enter a full-scale rebuild. Subsequently, what Atlanta might provide — Younger, Risacher and 4 first-rounders — could be an excessive amount of to cross up.
The Hawks deal has large attraction as a result of the Pelicans’ first-round choose in June might simply find yourself at No. 1. Mixed with their very own, the Bucks would seemingly have two first-rounders within the lottery. The Bucks would additionally get three further firsts in future years.
Risacher would give Milwaukee an enormous athletic wing they lack and who is not eligible for an extension till the 2027 offseason. Any apprehension comes with the price of Trae Younger’s subsequent contract. He’s eligible to enroll to a four-year, $229 million extension and generally is a free agent in July if he declines his participant possibility.
Regardless of the Knicks’ inclusion of Karl-Anthony Cities, their provide ought to be a nonstarter because of the lack of first-rounders — other than the Wizards’ top-eight protected choose in 2026 — headed to Milwaukee.
The Warriors commerce, in the meantime, might be one of the best worth in the case of first-round picks. Even with Antetokounmpo, the roster will proceed to age, leaving the first-rounders in 2028 and 2030 as attainable lottery picks in a possible post-Curry period.
A Spurs commerce involving Citadel provides the Bucks a participant they’ll construct round that has three years remaining on his rookie contract. Though Barnes is beginning and having one in all his higher capturing seasons, he and Kelly Olynyk are wage filler. Whereas there are three unprotected first-rounders included, the Bucks’ concern could be how a lot worth the Spurs’ 2029 and 2032 first-rounders truly maintain with Antetokounmpo, Wembanyama, Fox and Harper anchoring a chase for a title in San Antonio.
Houston’s deal options Sengun as one of the best participant included in any of the trades who additionally has 4 years left on a non-max contract. Nevertheless, can he and Myles Turner play collectively, or is it greatest to do the commerce and fear about that later? (The Bucks would have $60 million per season tied up in two facilities.) VanVleet has a participant possibility for subsequent season and would give Milwaukee a starting-caliber level guard if he opted-in. The 2027 first-rounder by way of Phoenix holds worth as a result of it’s unprotected, nevertheless it might simply land outdoors of the lottery if the Suns begin to this season is any indication of their trajectory.
— Marks