The NBA trade deadline is just around the corner-February 5 at 3 p.m. ET-and the rumor mill is heating up in a big way.
At the center of it all? Giannis Antetokounmpo.
Yes, that Giannis. Two-time MVP, Finals MVP, Defensive Player of the Year, 10-time All-Star.
A walking, dunking, rim-protecting force of nature who’s averaged 24.0 points, 9.9 rebounds, 5.0 assists, 1.1 steals, and 1.2 blocks per game over his career. And now, according to reports, he may be ready for a fresh start.
With no no-trade clause in his current contract-and a player option looming in 2027-28 worth $62.8 million-Antetokounmpo’s future in Milwaukee is suddenly anything but guaranteed. The Bucks, who’ve now suffered first-round playoff exits three years running, could be facing the unthinkable: moving on from their franchise cornerstone.
That possibility has sparked a flurry of hypothetical trade proposals, with several big-market and up-and-coming teams lining up as potential landing spots. Let’s break down some of the most eye-catching scenarios that have been floated.
New York Knicks: Going All-In
Knicks receive:
- Giannis Antetokounmpo
- Thanasis Antetokounmpo or Jerami Grant (depending on the version)
Bucks receive:
- Karl-Anthony Towns
- Miles McBride
- Pacôme Dadiet
- 2026 first-round pick (via Washington)
- 2028 first-round pick (via Orlando)
- Swap rights returned on 2028 and 2030 first-rounders
- First-round pick swaps in 2030 and 2032
Portland Trail Blazers receive:
- Mikal Bridges
- Guerschon Yabusele
This is about as blockbuster as it gets. The Knicks would finally land a true superstar, pairing Giannis with Jalen Brunson and Julius Randle (assuming he stays), while also reuniting him with his brother Thanasis-or adding a versatile forward in Jerami Grant.
For Milwaukee, Karl-Anthony Towns gives them a new offensive centerpiece, while the haul of picks and young talent sets the stage for a retool rather than a full rebuild. Portland’s involvement adds another layer, snagging Mikal Bridges and Yabusele in what would be a three-team mega-deal.
San Antonio Spurs: Giannis Meets Wemby
Spurs receive:
- Giannis Antetokounmpo
- Thanasis Antetokounmpo
Talk about a frontcourt dream team. Pairing Giannis with Victor Wembanyama would instantly create the most fearsome defensive duo in the league-and potentially the most athletic as well. The Spurs have cap flexibility and draft capital to make a move like this, and if they believe Wemby is ready to contend sooner rather than later, this could be the kind of bold swing that accelerates their timeline.
Portland Trail Blazers: A New Era Begins
Blazers receive:
- Giannis Antetokounmpo
- Thanasis Antetokounmpo
Bucks receive:
- Jerami Grant
- Robert Williams III
- Scoot Henderson
- 2028 first-round pick (via Milwaukee)
- 2030 first-round pick (via Milwaukee)
- 2032 first-round pick
This one’s a full-on youth movement for Milwaukee. Scoot Henderson is a high-upside guard with star potential, and Robert Williams brings elite rim protection when healthy. Jerami Grant gives the Bucks a proven forward in the now, while the trio of first-round picks adds long-term value.
For Portland, landing Giannis would be a seismic shift. It would signal that they’re done waiting on a rebuild and ready to compete right now. Imagine Giannis running the floor with Anfernee Simons and Shaedon Sharpe-suddenly, the Blazers are back in the Western Conference conversation.
Miami Heat: Culture Meets Dominance
Heat receive:
- Giannis Antetokounmpo
- Thanasis Antetokounmpo
Miami has long been a rumored destination for stars, and Giannis would fit right into the Heat’s hard-nosed, defense-first identity. With Jimmy Butler and Bam Adebayo already in place, adding Antetokounmpo would give Miami arguably the best two-way trio in the league.
The details of what Miami would give up weren’t laid out in this particular scenario, but any deal would likely include a mix of young assets, picks, and possibly Butler himself.
Golden State Warriors: One Last Run
Warriors receive:
- Giannis Antetokounmpo
- Kyle Kuzma
- Thanasis Antetokounmpo
Bucks receive:
- Jimmy Butler
- Jonathan Kuminga
- Moses Moody
- 2026 first-round pick swap
- 2028 first-round pick
- 2030 first-round pick
- 2031 pick swap
- 2032 first-round pick
This one’s spicy. Giannis in a Warriors jersey?
That’s the kind of move that could extend the dynasty-or at least give it one final, thunderous chapter. Pairing him with Steph Curry would be a nightmare for opposing defenses, and Kyle Kuzma adds scoring punch on the wing.
Milwaukee, meanwhile, gets a mix of win-now and future-focused pieces. Jimmy Butler brings leadership and toughness, Kuminga and Moody offer upside, and the draft capital provides plenty of flexibility.
Where This Leaves Milwaukee
Giannis is making $54.1 million this season, and while his contract doesn’t include a no-trade clause, his presence alone gives him leverage. The Bucks are in a tough spot-do they ride it out and hope to convince him to stay, or pull the trigger now and get maximum value before the deadline?
Either way, the clock is ticking. With the trade deadline just days away, the league is watching closely. If Giannis really is ready for a new chapter, we could be on the verge of one of the most franchise-altering trades in recent memory.