The New York Knicks made waves this past offseason when they reportedly had an exclusive negotiating window to pursue a blockbuster deal for Giannis Antetokounmpo. Now, with tensions between Antetokounmpo and the Milwaukee Bucks reportedly reaching a critical point, the idea of the two-time MVP landing in New York is once again front and center-and this time, it might be more than just smoke.
According to reports, Antetokounmpo’s frustration with the Bucks has intensified, and a formal trade request could be on the horizon. If that happens, the Knicks are expected to be among the top contenders for his services. But as with any potential megadeal, the details are where things get complicated-and in this case, timing and cap mechanics are playing a major role.
Let’s unpack what we know.
The Cap Crunch
Back when the Knicks reportedly had their shot at landing Antetokounmpo during the offseason, the deal being discussed also included Kyle Kuzma. That pairing-Giannis and Kuzma both heading to New York-would’ve brought in over $76.5 million in combined salary. That’s a huge number, especially for a team operating above the first apron of the salary cap.
Because the Knicks were over that threshold, they couldn’t take back more salary than they were sending out. That immediately limited the combinations of players they could include in a trade.
One key outcome: New York couldn’t package OG Anunoby, Josh Hart, and Mitchell Robinson together in the same deal. That trio, which might otherwise have made sense from a roster and value perspective, was off the table due to salary-matching constraints.
Other player combinations could have worked, but the cap math was always going to be tight. When you’re trying to land a superstar like Antetokounmpo, every dollar counts-and the Knicks were already operating with very little wiggle room.
The Bridges Factor
Another wrinkle? Mikal Bridges.
After acquiring Bridges in 2024, Knicks president Leon Rose doubled down by signing him to a four-year, $150 million extension in July. That move signaled a long-term commitment to Bridges-but it also came with a trade restriction.
Under NBA rules, newly extended players can’t be traded for six months. In Bridges’ case, that means he’s off the table until January 31, 2026-just one week before the trade deadline.
That restriction effectively ruled Bridges out of any deal during the Knicks’ reported offseason window with Milwaukee. And it still looms large as the season progresses. If the Knicks want to make a serious run at Antetokounmpo before the deadline, they’ll either have to do it without including Bridges or wait until the very last minute.
Giannis Holds the Cards
Of course, all of this hinges on one thing: whether Giannis actually asks out-and if he does, where he wants to go.
At 30 years old and still performing at an elite level, Antetokounmpo is the kind of player who can dictate his next move. If he tells the Bucks he only wants to play in New York, that gives the Knicks significant leverage. Milwaukee would then be tasked with making the best deal possible with a single team, rather than opening up a bidding war across the league.
But that exclusivity may no longer be in play. While New York reportedly had a unique negotiating window in August, that door has since closed. Other teams are now expected to be in the mix, and there’s no shortage of suitors for a player of Giannis’ caliber.
Still, the Knicks remain in a strong position-especially if Antetokounmpo makes it clear he won’t extend with any team other than New York. That would effectively chill the market and give the Knicks a clearer path to pulling off one of the biggest trades in franchise history.
The Road Ahead
Antetokounmpo has a player option for the 2027-28 season, giving him some control over his future even if he’s traded. But the next few weeks could be pivotal. If he formally asks out and names the Knicks as his preferred destination, the pressure shifts to Milwaukee to make a deal happen.
For now, all eyes are on the Bucks and their franchise cornerstone. The Knicks have positioned themselves as a potential landing spot-but the clock is ticking, and the margins are razor-thin.
Giannis Antetokounmpo may not be wearing orange and blue yet. But if things break a certain way, Madison Square Garden could be getting a new king.