The Toronto Raptors are stuck in NBA purgatory - not tanking, not contending, just floating somewhere in between. And while that might sound like a no-man’s land, it’s not necessarily a death sentence.
Just ask the Indiana Pacers, who never fully tore it down but still found themselves a win away from the NBA Finals last season. But make no mistake: being in the middle is a tough place to build from, especially with trade season heating up and big names like Giannis Antetokounmpo and Anthony Davis looming as potential targets.
Let’s get this out of the way - the Raptors aren’t out of the running for a blockbuster move. In fact, they’re better positioned than most teams to make one.
They’re one of only seven franchises that still control all of their own first-round picks, a major asset in a league where so many contenders have already mortgaged their futures. That flexibility alone keeps them in the conversation for any star who becomes available.
But being able to make a move and needing to make a move are two very different things.
There’s no question that Toronto has some trade limitations. The biggest issue?
Salary matching. Jakob Poeltl makes $19.5 million, and the next biggest contract after that is Ochai Agbaji’s $6.4 million.
That gap makes it tricky to cobble together enough salary to bring in a max-level player without gutting the roster. And that’s where the Giannis conversation starts to lose steam.
Antetokounmpo is still one of the most dominant forces in basketball. When he’s healthy, he’s a walking mismatch - a freight train in transition, a defensive anchor, and an MVP-caliber presence.
But if recent history has taught us anything - think Kevin Durant to Phoenix, James Harden to Brooklyn and then Philly and then L.A. - it’s that if you’re going all-in for a superstar over 30, you better be ready to win right now. And the Raptors?
They’re not.
Toronto is an average team with a lot of question marks. Scottie Barnes is a legitimate two-way building block, but he’s not the easiest star to build around.
In some ways, his game even mirrors Giannis - a versatile forward who thrives with the ball in his hands, attacks the paint, and defends multiple positions. But pairing two players with overlapping skill sets isn’t always a clean fit.
Beyond Barnes, the Raptors have a solid starting five, but none of those players are on bargain deals that make them especially appealing in a trade. First-round picks Collin Murray-Boyles (2025) and Ja’Kobe Walter (2024) have promise, but they’re still unproven.
And if the Bucks ever did entertain a Raptors offer for Giannis, the conversation would almost certainly start with Barnes. He’s younger, cheaper, and healthier - even if he’ll likely never reach Giannis’ peak.
Milwaukee would also want a haul of future picks, especially those that extend beyond Giannis’ prime. So now we’re talking about a package of Poeltl, R.J.
Barrett, Murray-Boyles, and multiple first-rounders. That’s a lot.
And if you make that deal, what’s left? You’re looking at a starting five of Barnes, Giannis, Brandon Ingram, Immanuel Quickley, and Walter.
The bench? Jamal Shead, Sandro Mamukelashvili, Agbaji, and Gradey Dick.
That’s a thin group - and notably, it lacks a true center.
Even with Giannis, would that roster stack up to the Knicks? To the Celtics or Sixers once they’re fully healthy?
And if you need another year to fine-tune the roster, you’ve already burned one of Giannis’ prime seasons. Plus, you’ve emptied the asset cupboard, making it nearly impossible to build around your new core.
Then there’s the Anthony Davis angle. The Raptors have reportedly been linked to the Lakers big man, and on paper, that’s a different conversation.
Davis is older (he’ll be 33 in March) and has a longer injury history, so the acquisition cost would likely be lower. That’s the appeal - if you can flip Poeltl and maybe Barrett for Davis without giving up your young core or too many picks, it’s at least worth a conversation.
But even then, the fit is questionable. Davis doesn’t love playing center, and while he offers more spacing than Poeltl, it’s not exactly game-changing.
Yes, he could elevate the Raptors’ defense to elite levels - if he stays healthy. But he doesn’t move the needle much on offense, which is Toronto’s bigger issue right now.
It’s worth remembering what made the Raptors’ 2019 title run possible. That team had a deep, well-developed roster built through smart drafting and internal growth.
When they traded for Kawhi Leonard and later Marc Gasol, they were already a 50-win team. Those were finishing moves, not foundational ones.
This version of the Raptors isn’t one piece away. They’re not deep enough, not cohesive enough, and not close enough to contention to justify a massive swing.
That’s not a knock - it’s just reality. Sometimes the best move is patience.
Let this group grow. See what Barnes becomes.
Give your recent draft picks time to develop. Maybe trim around the edges, but don’t blow up your flexibility for a long-shot bid at contention.
The Raptors are in the middle. That’s not always a fun place to be, but it’s not the worst place either - as long as you know where you're trying to go.