play1:26Doc Rivers: Giannis’ calf injury history is concerningBucks coach Doc Rivers discusses Giannis Antetokounmpo’s recurring calf injuries.
Shams confirms several ‘aggressive’ offers made for Giannis (1:46)Shams Charania details the next steps for Giannis Antetokounmpo and the Bucks as the trade deadline approaches. (1:46)
Doc Rivers: Giannis’ calf injury history is concerningBucks coach Doc Rivers discusses Giannis Antetokounmpo’s recurring calf injuries.
Bobby MarksJan 28, 2026, 11:40 AM ETCloseFollow on XMultiple Authors
Bucks’ options: Do they need to trade Giannis at the deadline?
At some point between now and the 2026 NBA offseason, the Milwaukee Bucks will face a franchise-altering decision:
Since he was drafted in 2013, Antetokounmpo has been committed to the franchise, signing extensions in 2016, 2020 and 2023. And general manager Jon Horst has been committed to building around Milwaukee’s superstar, hoping to recreate the championship-caliber supporting cast that helped end a 50-year title drought in 2021.
But flashy offseason moves — among them, an ill-fated trade for guard Damian Lillard in 2023 and the free agent signing of center Myles Turner last summer — haven’t gotten Milwaukee any closer to title contention. This season, the 18-27 Bucks are on pace for their worst record in 10 years and are in danger of picking in the lottery for the first time since 2015.
The combination of a below-average supporting cast — the Bucks are minus-11.2 points per 100 possessions when Antetokounmpo sits — and the realization that the 31-year-old forward is set to enter the final year of his contract had created a feeling around the league that a trade is closer than ever.
But to where? Which teams have the draft assets and salary cap space to get a deal done? Which teams would risk a move without any guarantee of Antetokounmpo signing an extension? Would the Oklahoma City Thunder or Detroit Pistons — each conference’s current No. 1 seed — dare to enter trade talks with Milwaukee?
We’re putting the other 29 teams into tiers, from the franchises that could offer the most appealing trade packages to teams that have no realistic chance at landing the 10-time All-Star.
Jump to a section: What options do the Bucks have? 11 franchises with the most to offer Picks, but a mismatched timeline Teams with injured/former All-Stars Contracts, but light on draft picks Assets for a deal, but with big risks Empty pockets | Waiting on sideline
Getting younger, building draft assets and acquiring win-now players should be the goals for Milwaukee. But can they accomplish those without trading away a franchise icon?
After deals for Jrue Holiday, Lillard and then signing Turner, Milwaukee’s collection of tradable assets and contracts continues to shrink. The Bucks do have their 2031 or 2032 first-round pick to include in any trade but are bottom-heavy in salary — 11 of 15 players under contract earn between $2.3 million to $5.1 million.
If Antetokounmpo is not moved, that leaves Turner ($25.3 million), Kyle Kuzma ($22.4 million) and Bobby Portis ($13.5 million) as the most appealing contracts to use in deals ahead of the Feb. 5 deadline.
Doc Rivers: Giannis’ calf injury history is concerning
Bucks coach Doc Rivers discusses Giannis Antetokounmpo’s recurring calf injuries.
But considering Antetokounmpo will be out an extended period, Horst and the front office could choose to wait and regroup this summer. While missing the playoffs was not the goal before the season, Milwaukee is now slated to add a lottery pick to the league’s fifth-oldest roster. (The Bucks have the less favorable first-rounder between their own and the Pelicans.)
And starting the night of the draft, Milwaukee is allowed to trade three first-round picks (2026, 2031 and 2033) to potentially bolster the roster around Antetokounmpo.
Adding in free agency could prove more difficult. Milwaukee has nine free agents this summer, but five have player options (Kevin Porter Jr., Gary Trent Jr., Gary Harris, Taurean Prince and Jericho Sims).
The Bucks are also projected to be over the cap this offseason, thanks in part to the Turner signing last offseason at the expense of Lillard. After waiving and stretching his contract, Milwaukee owes the guard $20.2 million per season through 2029-30. Outside of creating room by trading Turner, Kuzma or Portis, Milwaukee will have the $15.1 million non-tax midlevel, $5.5 million biannual and veteran minimum exceptions available to sign players this summer.
But if Milwaukee decides the best path forward is indeed to trade Antetokounmpo ahead of the deadline, which franchises have the draft capital, the contracts and the young stars to swing a deal? (An important reminder for teams chasing Antetokounmpo: Any franchise without cap space would have to send Milwaukee at least $43.5 million in salary and remain below the first apron.)
Deal difficulty: 7/10 (with 10 being the most difficult). The Pelicans’ pick might be a deal-breaker.
Could the Hawks interest Milwaukee in one of the top picks in this year’s draft for the opportunity to select Darryn Peterson, AJ Dybantsa or Cameron Boozer? Atlanta does not control its own first-round pick until 2028 but has one of the most coveted draft assets in the league: the more favorable 2026 first-rounder between New Orleans and Milwaukee. (The Hawks also have the less favorable 2027 first-rounder between New Orleans and Milwaukee if it falls outside of the top four.)
Adding Antetokounmpo to a young rising core led by Jalen Johnson would be fascinating to watch. So would the risk: trading away a potential No. 1 pick in a stacked draft with the potential of Antetokounmpo leaving for nothing in the 2027 offseason.
Deal difficulty: 2/10. Detroit has the contracts, draft picks and young players to get an Antetokounmpo deal done, but does the best team in the East dare disrupt its run?
If we are going by coach J.B. Bickerstaff’s comments last month, do not expect the front office to rush in improving its roster. “You don’t need to skip steps and go out and trade for some sort of superstar right away because you never know how that’s going to end up,” Bickerstaff told FanDuel TV.
But what if one of those steps was acquiring Antetokounmpo? Detroit would check many boxes for Milwaukee’s ideal offer. The Pistons can trade up to four first-round picks, have a large tradable contract in Tobias Harris and have promising young players Ausar Thompson, Jaden Ivey and Ron Holland.
Deal difficulty: 7/10. Another Houston blockbuster would require picks and likely a young cornerstone.
After a first-round loss to Golden State in last season’s playoffs, Houston used many of its trade assets to acquire Kevin Durant. (So far, so good.) But the Rockets still have a valuable 2027 swap with Brooklyn and an unprotected first-round pick from Phoenix in that same draft. While the draft picks are enticing, the Bucks would almost certainly circle Amen Thompson as a player they can build around in the wake of losing Antetokounmpo.
Deal difficulty: 7/10. Miami has the cap room, young players and (maybe) a very important expiring contract to include in deals. But it can’t trade a first-round pick until the next decade.
The Heat are positioned to take back Antetokounmpo’s salary and still not be impeded by the first apron hard cap. From a contract standpoint, the Heat have three players earning more than $25 million, including former All-Stars Tyler Herro and Andrew Wiggins. Both players are free agents in 2027. Miami could also have the $26.6 million expiring contract of Terry Rozier, who was placed on leave by the NBA in October.
While the Heat have young players such as Kel’el Ware and Jaime Jaquez Jr., a sticking point in any potential trade talks with Milwaukee would be Miami’s two available firsts — in 2030 and 2032.
Deal difficulty: 8/10. Minnesota has no first-round picks available and is walking a financial tightrope. Landing Antetokounmpo could require some deadline maneuvering from president Tim Connelly.
While the Wolves have players who can accelerate a rebuild in Milwaukee in Julius Randle, Naz Reid and Jaden McDaniels, they have no first-round picks to send in a deal. One option for the front office could be to reroute players to a third team for a future first-rounder that goes to Milwaukee. Making any trade construction more difficult, the Timberwolves are not allowed to take back more salary than they receive in a trade.
Deal difficulty: 8/10. New York’s one tradable pick likely won’t convey, so any Antetokounmpo offer will require a star.
Like the Wolves, the Knicks are light on draft assets and heavily into the apron and its financial limitations. The Knicks’ lone non-swap first-round asset is a 2026 top-eight-protected pick that will likely stay with the Wizards in June.
And because it is over the first apron, New York is not allowed to take on more salary than it sends out in a trade. That would leave the front office with the option of swapping Karl-Anthony Towns straight up or packaging a combination of OG Anunoby, Josh Hart and Mikal Bridges. (Note: Bridges cannot be traded until Feb. 1.)
Deal difficulty: 7/10. Oklahoma City has an enviable collection of draft picks. But would adding Antetokounmpo be worth breaking up a championship roster and depleting many of those future assets?
In fairness, we should leave the defending champions off this list. Thunder GM Sam Presti has largely built the roster around Shai Gilgeous-Alexander through the draft and shrewd free agent signings. Even with 11 tradable first-round picks and swaps, young players and expiring contracts, taking this big of a swing is not in the DNA of Oklahoma City.
Deal difficulty: 4/10. Portland has young players and the Bucks’ own 2029 pick to use in deals. But would gutting a promising young roster be worth a short-term contention window — and a Damian Lillard-Antetokounmpo reunion?
Remember the 2023 trade that sent Lillard to the Bucks? The draft picks that Milwaukee sent to Portland included two years of pick swaps (2028 and 2030) and its own unprotected first in 2029. (After getting waived by Milwaukee in July, Lillard is now back on the Trail Blazers as he rehabs a torn Achilles.)