The New York Knicks are very much in the Giannis Antetokounmpo conversation-but don’t expect that conversation to heat up until the summer. That’s the reality Knicks fans are facing as the 2026 NBA trade deadline approaches.
While the buzz around a potential Giannis move continues to simmer, the odds of anything materializing before the deadline are slim. And that has serious implications for what the Knicks can-or will-do in the coming weeks.
The Giannis Path: Still Open, Just Not Yet
Let’s start with the big picture. The Knicks remain a legitimate contender in the Giannis sweepstakes, but the window for that opportunity doesn’t really open until the offseason.
According to recent league chatter, the Portland Trail Blazers-who hold Milwaukee’s first-round picks in 2028, 2029, and 2030-could look to get involved if talks between the Bucks and Knicks ever get serious. Portland reportedly has long admired Mikal Bridges, which could open up some creative trade mechanics if the Knicks want to build a multi-team deal.
That’s notable because it gives New York another path to pursue Giannis without having to rely solely on Karl-Anthony Towns as the centerpiece of an offer. If Portland’s interest in Bridges is real, the Knicks could potentially flip him in a way that helps facilitate a larger trade, possibly improving their overall package without gutting their core.
But none of this changes the timeline. A Giannis trade before the February 5 deadline is unlikely.
He’s dealing with his third calf strain of the season, and teams aren’t going to offer the farm for a superstar who’s currently sidelined. Even if he were to push for a move, Milwaukee is better off waiting until the summer, when more teams-fresh off playoff exits-are likely to enter the bidding war.
Why That’s Actually Good News for the Knicks
Here’s where things get interesting. The Knicks don’t have the draft capital or blue-chip prospects to outbid teams like Oklahoma City or San Antonio in a traditional sense.
But if Giannis makes it clear he wants to be in New York-and only New York-that changes the math entirely. In that case, the Knicks wouldn’t win the sweepstakes because of the strength of their offer.
They’d win because Giannis says so.
Still, leverage only goes so far. The Knicks can’t expect to land a two-time MVP for pennies on the dollar. They’ll need to bring a real package to the table-likely including multiple first-round picks, young players like Tyler Kolek or Deuce McBride, and potentially second-rounders from Washington in 2026 and 2027, along with pick swaps and other assets.
That’s why asset preservation is the name of the game right now. If New York is serious about making a run at Giannis, they can’t afford to burn through their trade chips on short-term upgrades. Which means the deadline could be quieter than some fans would like.
The Ripple Effect on the Deadline
This Giannis-focused strategy doesn’t just affect big-splash deals-it trickles down to the fringes of the roster, too. Moving players like Guerschon Yabusele or Pacome Dadiet would likely require attaching sweeteners, and the Knicks may not be willing to part with those kinds of assets just to clear roster spots or marginally improve.
Even the idea of trading Karl-Anthony Towns becomes complicated. His value isn’t as high as some might think, and his large salary could be crucial in a future deal with Milwaukee-especially if the Bucks want to offload a contract like Kyle Kuzma’s or Myles Turner’s in return.
Mitchell Robinson also becomes more important by extension. While he’s not expected to be moved, he becomes close to untouchable if there’s uncertainty around who would man the center position in a post-Giannis trade scenario. The Knicks can’t afford to lose a foundational piece unless they know exactly what’s coming back.
So, What Can the Knicks Do?
Leon Rose and his front office have built a reputation for being aggressive and creative, and that won’t change. But the ceiling on what they can realistically accomplish at this trade deadline is now lower than it might’ve been a few weeks ago. The Knicks may still explore marginal moves, but anything that costs significant draft capital or young talent is likely off the table.
That’s a tough pill for some fans to swallow-especially those who want to see this team push harder in the short term. But this isn’t just about chasing a dream.
It’s about positioning the franchise for a potentially franchise-altering move. Giannis is still in his prime.
He’s still one of the most dominant forces in the league. If there’s even a sliver of a chance to land him, it’s a chance the Knicks have to take seriously.
This current roster, as solid as it’s been, hasn’t shown it’s ready to win a title. That’s not a knock-it’s just the reality.
And if the cost of keeping the Giannis door open is a quiet trade deadline, then so be it. For New York, this isn’t about patience for patience’s sake.
It’s about playing the long game-and maybe, just maybe, hitting the biggest home run in franchise history.