If Giannis Antetokounmpo is truly available ahead of Thursday’s trade deadline, the Miami Heat are making one thing clear: just about everyone not named Bam Adebayo is on the table. And that level of urgency makes sense-superstars of Giannis’ caliber don’t hit the market often, and when they do, you move mountains.
According to reports, Miami is prepared to part with nearly every player on the roster outside of Adebayo in a bid to land the two-time MVP. That includes a mix of young talent and draft capital, which aligns with what Milwaukee is reportedly looking for in return-namely, “young blue-chip talent” and/or picks to jumpstart a post-Giannis rebuild.
One player who wouldn’t be a fit for Milwaukee’s timeline is Norman Powell. At 32, and fresh off his first All-Star selection, Powell doesn’t align with a youth movement.
But for Miami, he could be a key veteran piece in a new-look core alongside Giannis and Bam. That trio alone would give the Heat a serious shot at contending in the East.
But as any championship team knows, star power isn’t enough-you need the right role players to tie it all together.
And that’s where things get interesting.
If a deal does materialize, the Bucks would have a pool of young Heat players to choose from-Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., Nikola Jovic, Kasparas Jakucionis, and Pelle Larsson. Herro and Ware are considered near-locks to be included in any potential deal, which makes sense given their upside and trade value.
The question becomes: who else is expendable?
Ideally for Miami, the Heat would like to hold onto at least one of their breakout rotation guys-Jaquez or Larsson. Jaquez has emerged as an early Sixth Man of the Year candidate, bringing energy and scoring off the bench. But it’s Larsson who’s generating the most internal buzz.
According to Heat insider Greg Sylvander, Miami “prefers” to keep Pelle Larsson out of the deal-not because they overvalue him, but because of how well he fits the roster construction around a Giannis-Adebayo core. And it’s hard to argue with that line of thinking.
Larsson has been one of the team’s most impactful two-way players this season. He’s not just filling a role-he’s thriving in it.
Over his last three games, the second-year wing is averaging 19 points, 5.7 rebounds, and 2.7 steals while shooting a scorching 63% from the field and 54.5% from beyond the arc. More importantly, the Heat are 25-18 when he starts.
He’s become the kind of glue guy every contender needs-versatile, efficient, and unselfish.
That’s why, even in the pursuit of a generational talent like Giannis, Miami is trying to thread the needle. They’ll offer just about anything-but if they can keep Larsson, they will.
Sylvander made it clear: “They will trade anybody for Giannis. Except Bam, but only because they don’t have to.”
From Milwaukee’s perspective, Larsson may not be as appealing as higher-upside prospects like Ware, Jaquez, or even Jovic-despite Jovic’s uneven season. For a team potentially entering a rebuild, the focus is on ceiling more than floor.
Larsson, as good as he is, projects more as a high-level role player than a future star. That could work in Miami’s favor if the Bucks prioritize raw potential over NBA-readiness.
Still, Milwaukee holds the cards. If they decide to move Giannis, they’ll dictate the terms.
And while we don’t know exactly how they value each Heat asset, what’s clear is this: Miami is all-in. They’re willing to pay a steep price to land a transformative player, and they’re hoping to do it in a way that doesn’t gut the entire roster.
If they can pull it off-if they can land Giannis while keeping Bam and a guy like Larsson in the fold-then the Heat won’t just be making a splash. They’ll be building a contender that’s ready to win now and built to last.