Warriors Reportedly Assured Jimmy Butler They Won’t Trade Him
The Warriors recently informed Jimmy Butler they don’t plan to trade him as he rehabilitates from a torn ACL in his right knee, a league source tells Nick Friedell of The Athletic.
Jake Fischer and Marc Stein of The Stein Line reported on Saturday that they have received “strong indications” that Golden State’s offer for Giannis Antetokounmpo is unlikely to include Butler. Both players make $54.1MM this season.
General manager Mike Dunleavy Jr. said he didn’t expect to trade Butler in the wake of the six-time All-Star’s season-ending injury. However, that was before the Bucks became more receptive to offers for the two-time MVP.
Multiple reports have indicated Stephen Curry is the only untouchable Warrior in talks for Antetokounmpo. Golden State’s actions will speak louder than words when it comes to Butler, Friedell notes.
If Butler is not part of the Warriors’ offer, four-time champion Draymond Green will likely have to be part of the outgoing package for salary-matching purposes. He addressed that possibility on Friday.
“I’ve been here for 14 years,” Green said. “I have no reason to sit and worry about leaving. But if I’m traded, that’s part of the business. I ain’t losing no sleep, though. I slept great last night.”
Other members of Golden State’s roster admit the lead-up to the trade deadline is a stressful experience.
“It’s hard on all of us,” veteran big man Al Horford told Monte Poole of NBC Sports Bay Area, “but especially for younger players that are trying to find their way and establish themselves. This time of year, I find that it doesn’t matter what team you’re on, it’s always going to be stressful.
“It’s tough. We kind of have to have some sort of empathy for everybody, because we’re all just kind of going through it. And there’s a lot of ‘what ifs’ and things like that. From my experience, once the deadline passes, everybody kind of takes a deep breath. It slows down, and you’ll see a better team.”
Backup guard De’Anthony Melton is trying to tune out the outside noise, according to Poole.
“Honestly, you just got to put your head down and work,” Melton said. “Some stuff is out of your control. Early in my career, one of the vets told that when a superstar or whatever wants to get moved, everybody’s on the (trading) block. Nobody’s above the program.”
Trade Rumors: Ellis, Hunter, Ball, Bucks, Sochan, Deadline
In addition to the Cavaliers, the Lakers, Pacers, Spurs and Celtics are among the many suitors for Kings guard Keon Ellis, sources tell Marc Stein and Jake Fischer of The Stein Line (Substack link). The Timberwolves and Knicks have also been mentioned as teams interested in Ellis.
The 26-year-old is an intriguing trade candidate because his $2.3MM expiring contract makes him an attainable piece for just about any NBA team. If he’s dealt, Ellis’ Bird rights would travel with him and he’d become extension-eligible on February 9, just a few days after the trade deadline.
Cleveland has seemed to be in the best position to acquire Ellis over the past 48 hours, Fischer reports (via Twitter), but other teams are still in the mix as well.
According to Stein and Fischer, while the Kings are reluctant to take on long-term money in trades, they’re believed to be open to that possibility if Malik Monk is included the deal. Sacramento has also brought up including DeMar DeRozan in trades involving Ellis.
Here are several more trade rumors from around the NBA:
- Although the Lakers have been mentioned multiple times as a potential suitor for De’Andre Hunter, Stein and Fischer hear Los Angeles’ interest in the Cavaliers forward has been “repeatedly overstated.” As Stein and Fischer explain, Hunter’s $24.9MM salary for next season would inhibit the Lakers’ offseason flexibility, which they prefer to maintain.
- Before Giannis Antetokounmpo became the focus of the trade deadline, the Bucks made offers for Hunter centered around Kyle Kuzma and/or Bobby Portis, Stein and Fischer confirm. Chris Fedor of Cleveland.com reported on Friday that Milwaukee had pitched Cleveland on the idea of a Portis/Hunter trade, but the Cavaliers declined. The Warriors also held a level of interest in Hunter, per Stein and Fischer, but that was before the Bucks began listening to offers for Antetokounmpo and now their focus is on the two-time MVP.
- The Wizards have checked in with the Cavaliers about Lonzo Ball and have let teams know they’re willing to be a salary dumping ground if they receive draft compensation in return, reports Michael Scotto of HoopsHype. Cleveland is the only team in the NBA over the second tax apron, and Ball — who is shooting just 26.9% from three-point range — is on pseudo-expiring $10MM contract ($10MM team option for next season).
- While this sort of move would be contingent on what happens with other trade constructs, the Bucks have expressed interest in packaging some of their minimum-salary contracts to acquire higher-priced players, including Nets guard Cam Thomas and Mavericks guard D’Angelo Russell, sources tell Scotto. As Scotto explains, Milwaukee’s goal would be to either take an upside swing (Thomas) or add second-round picks by taking on unwanted money (Russell). Thomas, an unrestricted free agent this summer, holds an implied no-trade clause after signing his qualifying offer last offseason.
- Several teams — including the Suns — have talked to the Spurs about fourth-year forward Jeremy Sochan, according to Scotto. Those discussions, which Scotto describes as exploratory, also involved Phoenix center Nick Richards, but the Suns weren’t interested in that swap because it would have pushed them deeper into the luxury tax, which they’d prefer to dip below.
- We’ve only seen one in-season trade to this point. One veteran NBA executive who spoke to Stein and Fischer is optimistic about that number rising significantly in the coming days. “I still think the avalanche is coming,” said the team official.
Latest On Bucks, Giannis Antetokounmpo
Opposing teams are split on whether the Bucks actually intend to trade Giannis Antetokounmpo ahead of the February 5 deadline. According to Marc Stein and Jake Fischer of The Stein Line (Substack link), some teams in touch with Milwaukee have gotten the impression the Bucks prefer to wait until the offseason, when more suitors could arise.
However, Sam Amick of The Athletic hears other clubs think the Bucks are more likely to move the superstar forward in the next five days, pointing to the “human factor” as a reason why it could make sense for both sides to part ways sooner rather than later. Keeping Antetokounmpo on the roster into the offseason would create an “uncomfortable” and “unhealthy” dynamic, since everyone on the team knows the partnership seems inevitable to end, Amick writes.
Although Giannis never made a public request, teams in pursuit of the perennial MVP candidate “strongly” believe his preference is to be traded in the next five days, per Stein and Fischer.
Amick, John Hollinger, Eric Nehm and Nick Friedell of The Athletic weigh the various potential outcomes of Antetokounmpo being on the trade block. As Hollinger observes, Giannis and teams interested in acquiring him stand to benefit most by a deadline deal, while Nehm points out that Milwaukee would likely be better positioned to maximize its return in the offseason.
As Friedell writes, Antetokounmpo’s preferred list of destinations is unknown, and that could have a significant impact on discussions as well, since he only has one guaranteed year left on his contract beyond 2025/26.
The Warriors — one of the four teams rumored to in strong pursuit of Antetokounmpo — have been repeatedly mentioned as a possible landing spot, since they can send all four of their own first-round picks to the Bucks right now (it’s debatable how valuable some of those picks would be, Amick notes). They also have fairly straightforward ways to match salaries.
Sources tell Monte Poole of NBC Sports Bay Area that Stephen Curry is the only Warrior who is off limits in talks for Antetokounmpo, and Anthony Slater of ESPN has heard the same.
While Jimmy Butler, who is out for the year with a torn ACL in his right knee, has been mentioned as a possible salary-matching piece, Stein and Fischer have received “strong indications” that Golden State’s offer for Antetokounmpo is unlikely to include Butler. Both players are on maximum-salary contracts and make $54.1MM this season.
As Stein and Fischer write, if Butler isn’t included, Draymond Green ($25.8MM) may have to be part of the deal for matching purposes. The former Defensive Player of the Year addressed that possibility after Friday’s loss to Detroit, per Slater.
“I’ve been here for 14 years,” Green said. “I have no reason to sit and worry about leaving. But if I’m traded, that’s part of the business. I ain’t losing no sleep, though. I slept great last night.”
Warriors Notes: Giannis, Front Office, Kerr, More
The Warriors are reportedly among the most serious suitors for Giannis Antetokounmpo. Team owner Joe Lacob is a huge fan of the 10-time All-Star, according to Monte Poole of NBC Sports Bay Area, who hears from sources that Golden State is “ready to give up a whole lot” to acquire Antetokounmpo.
The Warriors are “aligned” in their belief that Giannis is the type of player worth going all-in for, Poole adds.
“If we’re talking about trading draft picks that will be going out when Steph (Curry) isn’t here,” Warriors general manager Mike Dunleavy Jr. said last week, “it’s going to have to be a player that we think we’ll be getting back that is going to be here when those picks are going out. And that player’s going to have to be pretty impactful.
“It would take a good amount, positionally, play style, archetype, all that. I would leave it pretty broad and open. But if there’s a great player to be had, we’ve got everything in the war chest that we would be willing to use.”
Appearing on NBA Countdown on Friday (YouTube link), ESPN’s Brian Windhorst said he thinks the Warriors might have the best current trade package among the group of teams pursuing Antetokounmpo. However, that may not be the case in the offseason, when other suitors will have additional draft assets to include in offers.
“I think (the Warriors) have to be very aggressive,” Windhorst said. “They understand it — they are in the eye of this storm. Because if they are going to make this move, they’re going to have to close, I really believe, by next Thursday. Their offer cannot really improve by the summer.”
Here are a few more notes on the Warriors:
- If Golden State does trade for Antetokounmpo, the decision will have lasting implications for years to come, writes Nick Friedell of The Athletic. Organizational mainstays Curry and Draymond Green say they aren’t the type of players to push for deals, but they’re generally kept in the loop when moves are being considered. “We’ve got a great team in this locker room,” Green said. “If a move is made, a move is made. But that’s not our job, that’s not our place to sit and wait or worry about if a move is gonna be made. … We’re not chasing anything but greatness. And you don’t chase greatness by whining about a roster. You chase greatness by embracing the roster that you have, getting the best out of every single guy, and that’s what we’ve done for years and that’s what we’re gonna continue to do.”
- Head coach Steve Kerr doesn’t expect any deals to be completed until closer to the February 5 deadline, as Eden Collier of NBC Sports Bay Area relays. “I talk to Mike (Dunleavy) pretty much every day, and he keeps me up to speed,” Kerr said on 95.7 The Game’s Steiny and Guru show. “But honestly, what he told me the other day was that everything’s going to go ’til the last second. There literally hasn’t been a single thing where he’s called me and said, ‘So-and-so offered this or that.’ Not one thing. … It’s all speculation at this point. It’s going to go down to the wire.”
- Multiple Warriors executives, including Dunleavy and assistant GM Larry Harris, were in New Zealand on Friday scouting NBL prospects Karim Lopez and Dash Daniels, tweets Olgun Uluc of ESPN. Both players are considered potential first-round picks.
- Kerr is on an expiring contact and he’s undecided on whether he’ll return to coach Golden State for a 13th season, he tells Anthony Slater of ESPN. “Let’s wait until the end of the year and see if everybody’s aligned,” Kerr said. “If we are, then we’ll keep going. If not, then we won’t. (It’ll depend) how the season ends, what the future looks like, all of that factors in. And they, meaning Joe and management, they’ve got a lot to think about. It’s a really interesting time for the organization.”
Spencer Jones Among Two-Way Players Nearing Active-Game Limit
Second-year forward Spencer Jones has emerged as a key part of the Nuggets‘ rotation this season, starting 31 games and averaging 23.5 minutes per night for the Western Conference’s No. 3 team. However, Jones’ two-way contract only allows him to be eligible for up to 50 regular season games and he’s just three away from that limit — he has appeared in 43 contests and was a DNP-CD in four more early in the season.
While the Nuggets have let Jones and his representatives know that they want to promote him to the standard roster, the 24-year-old is also aware he may run out of games before that happens, writes Bennett Durando of The Denver Post (subscription required).
“You want to figure out, where you’ve got a championship push, everything you need to make that push. So yeah, I always knew the decision wasn’t going to be until the (trade) deadline, (that it) won’t be decided until around then,” Jones said. “I may run out of games before then. So they’ve mentioned the possibility of sitting out one or two just ’cause. So we’ll see how it pans out.”
Denver has an open spot on its 15-man roster, so the front office could convert Jones’ contract today without making a corresponding move. However, the Nuggets will likely want to hold that spot open for a few more days to maximize their roster flexibility at the trade deadline.
The Nuggets are also operating above the luxury tax line by about $400K and have reportedly made it a priority to finish this season as a non-taxpayer. That means Jones might have to wait for his promotion until after Denver makes a move to shed a little salary.
If they were to trade one of their lowest-paid players without taking back any salary, the Nuggets could sign Jones and remain below the tax line due to the gap between a full-season and prorated salary. For instance, Hunter Tyson‘s deal features a $2,221,677 cap hit, whereas a minimum-salary contract for Jones would count for just $871K as of February 6 (Denver could also use a portion of its mid-level exception to sign Jones for more than the minimum).
“Whatever happens with Spence, he’ll be fine. What he’s done and what he’s put on tape is a professional basketball player that belongs in a rotation,” head coach David Adelman said. “And he’s earned it. … We’ll figure it out. What that means, I don’t know. And those are Ben (Tenzer) and Jon (Wallace) questions; we’ll have that conversation with them. But we’ll do the best we can do for (Jones) and for the whole roster as we go forward.”
As Durando points out (via Twitter), Jones got a bit of a reprieve when the Nuggets had a game postponed last Sunday and rescheduled for March. But Denver still plays four times between now and next Thursday’s deadline, so if the club isn’t ready to promote Jones until after the deadline, he’ll have to sit out one of those four contests.
There are several other two-way players around the NBA who are nearing their active game limits. Here are the players who are within 10 of the limit, with the number of games they have remaining noted in parentheses:
- Chris Youngblood, Thunder (2)
- Pat Spencer, Warriors (3)
- Jabari Walker, Sixers (3)
- Note: The Sixers have reached their limit of 90 “under-15” two-way games and must maintain a full 15-man standard roster to use their two-way players.
- Daniss Jenkins, Pistons (4)
- Johnny Juzang, Timberwolves (4)
- Nae’Qwan Tomlin, Cavaliers (5)
- Sidy Cissoko, Trail Blazers (7)
- JD Davison, Rockets (8)
- Ryan Nembhard, Mavericks (9)
- Caleb Love, Trail Blazers (10)
- Kobe Sanders, Clippers (10)
Warriors Notes: Trade Options, Kuminga, Curry, Horford
Although the Warriors appear willing to move several future first-round picks – and either Jimmy Butler or Draymond Green – in a deal for Giannis Antetokounmpo, there are no other players on the trade market at the moment who would prompt the team to act with that level of aggression, writes Anthony Slater of ESPN.
As Slater notes, Golden State has continually been linked to Pelicans wing Trey Murphy III, but Joe Dumars and his front office have “stonewalled” the Warriors’ efforts to land Murphy, conveying that they’re not interested in moving members of New Orleans’ young core.
The Warriors have also been connected to possible trade targets like Michael Porter Jr. of the Nets and Andrew Wiggins of the Heat, but team sources have thrown “cold water” on those concepts, according to Slater, who hears from one source that Golden State doesn’t intend to engage with Miami about a Wiggins reunion. Multiple reports on Wednesday indicated that the two teams had explored that possibility.
Here’s more on the Warriors:
- Since Butler went down with a season-ending ACL tear, Warriors team sources have referred to their trade deadline approach as more “future-focused,” Slater reports. That stance suggests the club will be less inclined to move Jonathan Kuminga in a deal for a marginal or short-term upgrade on the wing.
- Although Stephen Curry is kept in the loop by management when a trade is receiving serious consideration, he said on Wednesday that he trusts general manager Mike Dunleavy Jr. and doesn’t feel the need to constantly check in on the front office’s pursuit of roster upgrades. “Myself, Draymond, just knowing the conversations are happening all the time. I don’t ever get into hypotheticals. It’s a waste of time, it’s a waste of energy,” Curry said, per Nick Friedell of ESPN. “It’s not my job to do that. Mike and the entire front office, I’m sure are making calls and I’m sure are taking looks, seeing what’s going on and then if there’s something material, something real, we have conversations about it. And decisions are made. So that’s our process, it’s always been that way.”
- After joining the Warriors as a free agent last fall, Al Horford battled health issues to open the season and got off to an up-and-down start. However, the big man has been consistently available since Christmas and has been inserted into the starting lineup within the past week. Head coach Steve Kerr said on Wednesday that he plans to stick with Horford as a starter for now. “Now that he can play 24 minutes, which is where his restriction is, I feel comfortable starting him and still being able to close with him,” Kerr explained, adding that he likes using Horford alongside Green in the frontcourt (Twitter video link via Slater).
- Horford is the starting center Golden State has always wanted, according to Dalton Johnson of NBC Sports Bay Area, who notes that the 40-year-old has helped shore up the Warriors’ defense while providing passing and shooting on offense. Horford has a positive plus/minus mark in each of his past seven outings and nine of his last 10.
Giannis Antetokounmpo Rumors: Wolves, Warriors, Heat, More
The Timberwolves are among the most serious suitors for Giannis Antetokounmpo, league sources tell ESPN’s Shams Charania. Charania reported on Wednesday that the Bucks star is “ready for a new home” and that Milwaukee is showing more willingness than ever to listen to offers for the two-time MVP.
While Timberwolves president of basketball operations Tim Connelly is one of the NBA’s most aggressive front office executives, it’s difficult to envision Minnesota putting together a package that would appeal to the Bucks. The Wolves don’t have any tradable first-round picks, so an offer would would have to be heavy on player value. With Anthony Edwards off the table, a package would probably start with Jaden McDaniels, Naz Reid, and Donte DiVincenzo.
As talented as those players are, none are All-Stars. Plus, ESPN’s Brian Windhorst (YouTube link) anticipates that the Bucks would be seeking a more draft-heavy return if they end up moving Antetokounmpo.
“They have to prioritize the draft,” Windhorst said. “This year’s draft and their pick situation going forward. Their future is going to be tied to (the) draft.”
Here are several more Giannis-related rumors, a week out from the February 5 deadline:
- The Warriors have contacted the Bucks within the past week to convey their “firm” interest in Antetokounmpo and to make it clear they’re prepared to make a strong offer, reports Anthony Slater of ESPN. While Golden State isn’t actively shopping Jimmy Butler, he would be on the table in a Giannis scenario for salary-matching purposes, according to Slater, who adds that the Bucks have some interest in Warriors forward Jonathan Kuminga. Milwaukee native Brandin Podziemski could also be a factor in those trade talks, Slater notes.
- Ira Winderman of The South Florida Sun Sentinel (subscription required) considers what the Heat‘s best deadline for offer for Antetokounmpo might look like, suggesting it would probably consist of Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., Kasparas Jakucionis, Terry Rozier‘s expiring contract, and Miami’s two tradable first-round picks.
- The Rockets are unlikely to get involved in the Antetokounmpo sweepstakes, ESPN’s Tim MacMahon said in the latest episode of the Hoop Collective podcast (YouTube link). “I have been told that the Rockets will not be bidders,” MacMahon said. “Now, hey, nobody was under oath, but I’ve been told that repeatedly and I’ll say that they’ve got a pretty good track record of shooting me straight.”
- MacMahon also doesn’t anticipate the Spurs being a player for Antetokounmpo. “I have been told by folks with the Spurs, ‘We’re not a home for Giannis,'” he said on the Hoop Collective podcast (YouTube link). “And there’s been a lot of smoke going back to the summer, but everything in San Antonio is about the (Victor Wembanyama) timeline, and this is a decade past the Wemby timeline when you bring in Giannis at his age.”
- The Thunder have more than enough assets to make a strong offer for Antetokounmpo, but they shouldn’t – and likely won’t – seriously entertain the idea, according to Rylan Stiles of SI.com, who suggests that making a move for a veteran star like Giannis would shorten Oklahoma City’s window of championship contention.
Pacific Notes: Warriors, James, Clippers, Brooks
Many factors will go into any trade for Giannis Antetokounmpo, but among realistic suitors, the Warriors could have the cleanest path to putting together a compelling trade package, writes ESPN’s Bobby Marks.
Marks looks at 11 teams who could potentially make a move for the Bucks’ star. Among those 11, he has the Warriors and Pistons tied for the lowest degree of difficulty in terms of making an enticing offer due to the two teams’ combination of young players, salary-matching contracts, and available draft picks.
He notes that Jimmy Butler‘s two-year, $111MM contract would be required in any deal for Antetokounmpo, and that the Warriors could then include Jonathan Kuminga, Brandin Podziemski, four first-round picks (including one in this year’s loaded draft) and up to three pick swaps. Such a deal would require taking back either Bobby Portis or Kyle Kuzma, whom the Bucks would likely be interested in moving off.
While Antetokounmpo’s preference will likely come into play in any deal, the number of picks the Warriors can offer should appeal to the Bucks. By comparison the Heat can only offer two first-rounders starting in 2030, while the Knicks can’t trade a first-round selection until the offseason outside of a protected Wizards 2026 pick that is unlikely to convey.
We have more from around the Pacific Division:
- LeBron James is almost certain to stay with the Lakers through this trade deadline, but some in his circle have speculated he could play another season in the NBA somewhere outside of Los Angeles, reports Shams Charania for ESPN (YouTube video link). “If he does actually play one more season, there is definitely chatter,” Sharania said. “Where could that be? Could that be in Cleveland? Where could that be? Could it be back in L.A.?” Charania emphasized that James’ focus at present is playing out the year with the Lakers, who will be active trying to improve the team at the trade deadline.
- With Patrick Baldwin Jr.‘s 10-day deal having expired, the under-15 clock is back on for the Clippers, notes Spotrac’s Keith Smith (via Twitter). This rule prevents a team from having its two-way players active for more than 90 combined games while carrying fewer than 15 players on its standard roster. Unless the team re-adds a 15th man, Los Angeles has just five more games in which both Kobe Sanders and Jordan Miller can be active. Converting one of the two of them to a standard contract after the trade deadline could solve the issue, with Miller looking the more likely candidate for a promotion. The third-year wing has averaged 14.3 points in 28.5 minutes per game over his last 10 games.
- A technical foul that Dillon Brooks received in the second quarter of Tuesday’s game between the Suns and Nets, the NBA announced (Twitter link). This puts Brooks at a league-leading 14 technicals for the season, one ahead of the Lakers’ Luka Doncic, which means he’s still two techs away from a one-game suspension.
Warriors, Heat Have Discussed Andrew Wiggins
The Warriors and Heat have had conversations about the possibility of a trade that would send forward Andrew Wiggins back to Golden State, according to reports from Jake Fischer of The Stein Line (Substack link) and Brett Siegel of ClutchPoints.
Wiggins was initially dealt from the Warriors to the Heat in the Jimmy Butler blockbuster at last season’s trade deadline. However, with Butler recovering from an ACL tear and Kuminga’s days in Golden State seemingly numbered, the Warriors’ search for help on the wing has led them back to the former No. 1 overall pick, who is still highly regarded within the organization, sources tell Siegel.
A Golden State offer for Wiggins would almost certainly start with Kuminga, and Miami has shown some interest in acquiring the fifth-year forward, according to Siegel. Still, there are several factors which could complicate talks between the two clubs.
For one, chatter around the NBA indicates the Heat have been seeking at least one first-round pick in exchange for Wiggins, per Siegel. It’s unclear whether the Warriors have conveyed a willingness to put a first-rounder on the table.
Golden State is also operating right up against a second-apron hard cap and would need to add more salary beyond Kuminga’s $22.5MM cap hit to take back Wiggins, who is earning $28.2MM this season, with a $30.2MM player option for 2026/27. Adding Moses Moody ($11.6MM) or Buddy Hield ($9.2MM) would make it a legal trade for the Warriors, but the Heat would have their own reservations about taking on much additional money, since they’re operating just $1.6MM below the luxury tax line.
Finally, if they do part with Wiggins, the Heat would prefer to use his salary to bring back a star-level player, Fischer writes. Bucks forward Giannis Antetokounmpo is one such player, and the fact that both Miami and Golden State reportedly covet the two-time MVP would presumably make it more difficult for the two teams to work out a separate trade that could impact their chances of making a play for Giannis.
The Bucks have “long coveted” Wiggins, according to Fischer, though he points out that Milwaukee’s interest in the 30-year-old has been framed as part of the team’s efforts to upgrade its roster around Antetokounmpo. It remains to be seen whether Wiggins would still appeal to the Bucks as part of a package for Giannis.
In 43 games (all starts) for the Heat this season, Wiggins has averaged 15.7 points, 5.0 rebounds, 2.9 assists, and 1.2 steals in 31.3 minutes per night, with a shooting line of .470/.390/.789.
Giannis Reportedly ‘Ready For New Home’; Bucks Listening To Offers
Bucks star Giannis Antetokounmpo is “ready for a new home,” either at next week’s trade deadline or this offseason, reports ESPN’s Shams Charania.
According to Charania, multiple teams have made “aggressive” trade offers for Antetokounmpo and the Bucks have begun listening to those pitches. While rival clubs have gotten the sense that Milwaukee is more open than ever to weighing offers on or before February 5, the Bucks have conveyed that they’re willing to wait until the summer to address the forward’s future if their asking price isn’t met, Charania writes.
Sources tell ESPN that the Bucks are believed to be seeking “blue-chip young talent” and several draft picks in any deal involving the two-time MVP. Waiting until after the 2026 draft lottery to make a deal could give Milwaukee a clearer sense of exactly which picks teams are prepared to offer for Antetokounmpo, Charania notes.
Antetokounmpo told The Athletic earlier this month that he’ll “never” come out and say he wants a trade, and that it’s not in his nature to make such a request. However, Charania hears that Giannis and the Bucks have had “honest and open conversations” about the future and that the 31-year-old has suggested to the team “for months” that he thinks it may be time to part ways.
The Knicks reportedly spoke to the Bucks about a possible Antetokounmpo trade last offseason after Giannis identified New York as a preferred landing spot. Those talks didn’t go anywhere, but Ian Begley of SNY.tv tweets that the Knicks will be among the teams aggressively pursuing Giannis now that Milwaukee is apparently prepared to open up the bidding to a larger group of suitors.
The Heat will also be in pursuit of Antetokounmpo, tweets Barry Jackson of The Miami Herald. As we relayed earlier today, a Marc Stein report named Miami as a possible frontrunner for the Greek star, with Stein citing a “vibe of confidence” coming from the Heat.
Although the Knicks and Heat will be among the teams trying to land Antetokounmpo, neither club is loaded with the type of draft assets that the Bucks would presumably be seeking in a blockbuster of this magnitude. The Knicks don’t currently have any tradable first-round picks, while Miami can offer just two first-rounders as a result of a protected 2027 pick owed to Charlotte that creates Stepien rule complications.
As Yossi Gozlan of The Third Apron points out (via Twitter), both teams would be better equipped to pursue Giannis in the offseason, when the Heat could offer up to four first-round picks (one would be conditional) and the Knicks could offer two.
The Warriors are also considered a likely suitor for Antetokounmpo, with Brett Siegel of ClutchPoints referring to him as Joe Lacob‘s “dream” trade target. Golden State has indicated it would be willing to offer a package that includes Jimmy Butler (who recently suffered an ACL tear), Jonathan Kuminga, and multiple draft picks, sources tell Chris Mannix of SI.com.
The Warriors have traded their 2030 first-round pick with top-20 protection, but could still offer first-rounders in 2026, 2028, and 2032, and could even include that ’30 pick in a package by attaching 21-30 protection.
The Raptors are another club with legitimate interest in Giannis, Siegel adds. Toronto controls all of its future first-round selections.
Trade speculation has swirled around Antetokounmpo for years and has gained steam since last spring, when the Bucks were eliminated in the first round of the playoffs for a third straight year as star point guard Damian Lillard suffered an Achilles tear.
Milwaukee’s front office aggressively reshaped the roster around Giannis in the offseason, waiving and stretching the final two years of Lillard’s maximum-salary contract in order to bring in center Myles Turner, one of the top free agents on the market. But those moves haven’t paid dividends for the Bucks, who fell to 18-27 on the season on Tuesday and are three-and-a-half games out of a play-in spot in the Eastern Conference.
The Bucks have scoured the trade market during the season and made players like Kyle Kuzma and Bobby Portis available as they look to improve their roster, but they haven’t gained traction on any deal they like. Charania suggests Antetokounmpo’s uncertain future and Milwaukee’s lack of appealing trade assets have complicated that search for roster upgrades.
Jake Fischer of The Stein Line reported over the weekend that rival teams believed the prospect of an Antetokounmpo trade was becoming more realistic. Reiterating that point today, Fischer says (via Twitter) multiple sources viewed last Wednesday’s loss to Oklahoma City – and Giannis’ comments after the game – as a point of no return for the Bucks and their longtime star.
Charania reported last week that Antetokounmpo’s frustration level was at an “all-time high” and writes within his latest story that the uncertainty around the forward’s future has resulted in some unease and tension in the Bucks’ locker room.
Antetokounmpo is currently sidelined by a calf strain and appears unlikely to suit up again before next Thursday’s trade deadline. The Bucks haven’t provided a projected timeline for his recovery, but Giannis predicted after sustaining the injury last Friday that he’d be out for four-to-six weeks.
With Milwaukee struggling to win games and Antetokounmpo not expected to play anytime soon, the team could be incentivized to pivot to tanking mode – with or without a Giannis trade – during the second half of the season in order to secure a favorable pick in the 2026 draft. The Bucks don’t control their own selection, but they’ll have the last favorable of the Pelicans’ first-rounder and their own — given that New Orleans holds a 12-37 pick, even the lesser of those two picks should end up firmly in the lottery.
Antetokounmpo is earning $54.1MM this season, with a guaranteed $58.5MM salary for 2026/27 and a $62.8MM player option for ’27/28. He’ll be eligible to sign a new maximum-salary extension as of this October.