The Giannis Antetokounmpo era in Milwaukee may be nearing its end.
According to league insiders, the Bucks and their franchise cornerstone are “most likely” headed for a split this offseason. While Giannis has publicly maintained that he won’t request a trade - a sentiment that speaks to his loyalty and competitive spirit - the writing on the wall suggests a potential departure could come through a different route.
Here’s the situation: Milwaukee is expected to offer Giannis a max extension this summer. If he turns it down, which many around the league anticipate, it would send a clear message - without him ever having to utter the words “I want out.” In today’s NBA, declining that kind of offer is as close to a trade request as you can get without actually making one.
And for the Bucks, that puts them in a tough spot. They either trade Giannis and try to recoup value before his contract expires in 2027, or they risk losing him for nothing - a scenario that would be devastating for a franchise built around his singular talent.
There’s precedent here. In the past, Giannis has used his contract situation as leverage to push the Bucks to improve the roster.
That’s how Milwaukee landed Jrue Holiday in 2020 and, more recently, Damian Lillard. But this time feels different.
The Bucks are currently sitting in 11th place in the Eastern Conference, outside even the play-in picture. After three consecutive first-round exits, the momentum that once defined this team has clearly stalled.
Giannis, now a two-time MVP, Finals MVP, Defensive Player of the Year, and 10-time All-Star, is in the prime of his career. He’s making $54.1 million this season, with a player option for $62.8 million in 2027-28. Crucially, there’s no no-trade clause in his contract - meaning the Bucks have full control if it comes to exploring trade options.
And teams are already circling. He’s been linked in rumors to the Knicks, Heat, Lakers, Warriors, Hawks, and Nets - all franchises with either the market, the assets, or the championship aspirations to make a serious run at him. According to sources, Giannis even expressed interest in joining the Knicks before the season, though talks between New York and Milwaukee never materialized into a deal.
For now, the Bucks are still Giannis’ team. But the pressure is mounting. If Milwaukee can’t turn things around - on the court and in the front office - the franchise may be forced to make a move it hoped it would never have to consider.
And for Giannis? He may not have to ask for a trade. The circumstances might do the talking for him.