The Milwaukee Bucks are officially listening - and responding - to trade offers for Giannis Antetokounmpo, with the Feb. 5 deadline looming. According to reports, the Bucks have begun sending counteroffers to teams making serious pushes for the two-time MVP, signaling a shift in Milwaukee’s stance that could reshape the league’s landscape.
Among the teams firmly in the mix: the Miami Heat, Minnesota Timberwolves, Golden State Warriors, and New York Knicks. Each franchise brings its own flavor to the table, and Milwaukee's front office is reportedly weighing offers that feature either a blue-chip player, a haul of draft picks, or some combination of both.
Let’s break it down: Golden State is said to be leading with a pick-heavy package - no surprise from a team with a deep war chest of future assets and a front office unafraid to swing big. Minnesota, on the other hand, is offering a player-centric deal, likely banking on the appeal of young talent to entice the Bucks.
Miami, ever the opportunist, is striking a balance - picks and players - in an effort to land a true superstar to pair with Jimmy Butler and Bam Adebayo. And then there’s New York, a team perennially linked to big names, now reportedly in the thick of things with serious interest.
What’s changed in Milwaukee? For one, the Bucks are 12th in the Eastern Conference, four games back of the final play-in spot.
That’s not where anyone expected them to be at this stage, especially with Giannis still playing at an elite level when healthy. But injuries and inconsistency have taken a toll.
The Bucks also face a complicated draft situation in 2026, with a first-round pick swap involving both the Atlanta Hawks and New Orleans Pelicans. As it stands, Milwaukee would keep its pick - but the uncertainty around their draft future only adds urgency to the decision-making process.
Antetokounmpo himself appears open to a change of scenery, whether that comes before the deadline or during the offseason. That’s a significant development. For a player who’s been the face of the franchise for over a decade, this kind of openness speaks volumes about where things stand behind the scenes.
Giannis, now 31, has been out of action since aggravating a calf strain on Jan. 23.
While there’s no official timetable for his return, he estimated a four-to-six week recovery window. Despite the injury, he was still voted an All-Star starter last week - a testament to his continued dominance.
Through 30 games this season, he’s averaging 28.0 points, 10.0 rebounds, and 5.6 assists on a blistering 64% shooting clip. That’s not just All-Star production - that’s MVP-caliber efficiency.
And that’s why this moment is so seismic. When a player of Giannis’ stature hits the trade market - even tentatively - it sends shockwaves through the league.
He’s a generational talent, a seven-time All-NBA First Team selection, and one of the most complete forces in the game. If Milwaukee decides to move him, it’s not just a blockbuster - it’s a franchise-altering pivot.
The Bucks are weighing their options, and the offers are coming in. What happens next could define the direction of multiple teams for years to come.