The Milwaukee Bucks are making it clear: they’re not folding. Despite Giannis Antetokounmpo’s uncertain injury timeline, the front office is signaling that they’re staying aggressive, looking to add talent ahead of the trade deadline. And according to recent reporting, one name that’s surfaced again on their radar is Portland Trail Blazers forward Jerami Grant.
Let’s unpack what that really means.
First off, the Bucks have been adamant that Giannis isn’t going anywhere. That’s been their stance publicly and privately.
But behind the scenes, Milwaukee is shifting into buyer mode. The message from GM Jon Horst’s office is that the Eastern Conference is wide open, and even with Giannis sidelined, they believe they can still put together a roster that gives them a puncher’s chance in the playoffs.
That’s not just posturing - rival executives are buying it. One GM even said the Bucks are “going big-game hunting.”
Enter Jerami Grant.
Grant’s a name that’s popped up in Milwaukee’s orbit before. He’s under contract for two more seasons after this one, with just over $70 million still owed.
That’s not a bargain, but it’s not outrageous either for a versatile two-way wing who can score, defend, and fit into multiple lineups. He’s the kind of player who could, in theory, help stabilize Milwaukee’s defense and give them another reliable option next to Damian Lillard - especially while Giannis is out.
But here’s where things get interesting: Portland already controls Milwaukee’s first-round picks in 2028, 2029, and 2030, thanks to the blockbuster Damian Lillard trade. That gives the Blazers a unique position in any future deal involving the Bucks - particularly if Milwaukee ever has to consider a rebuild or, down the line, a Giannis trade. Some league strategists have already floated the idea that Portland could be a key piece in a multi-team deal if Milwaukee ever goes that route.
In the short term, though, it’s unclear if the Bucks could even pry Grant away. Trail Blazers GM Joe Cronin reportedly views Grant as a key piece of Portland’s rebuild.
At 31, he’s one of the few veterans on a young roster, and he’s been a steadying presence. Unless the return is too good to pass up - or Grant is rerouted in a larger, multi-team deal - Portland doesn’t seem eager to move him.
That brings us to another layer of this: draft capital.
Milwaukee doesn’t control its own first-round pick for several years. Portland holds swaps in 2028 and 2030, and outright owns the unprotected 2029 pick.
That’s a lot of leverage in Portland’s hands. So it’s fair to wonder if Milwaukee’s interest in Grant is actually about something else: getting some of those picks back.
If the Bucks are trying to retool around Giannis, regaining control of their draft future would be a smart play - and involving Grant in a multi-team deal could be the mechanism to make it happen.
Now, there’s a technical wrinkle here. Portland can trade back the 2028 and 2030 pick swaps to Milwaukee.
But the 2029 unprotected pick? That’s a bit more complicated.
It’s currently tied up in the Deni Avdija trade, which sent the second-best of the Portland-Milwaukee-Boston 2029 picks to Washington. So even if Portland wanted to give that pick back to Milwaukee, they’d need to get creative - maybe some kind of conditional language in a deal.
But if that Bucks pick ends up being the second-best of the three, it’s going to the Wizards no matter what. Even if it’s the No. 2 overall pick.
So yeah - this isn’t a simple trade rumor. It’s a web of draft pick protections, multi-year planning, and long-term franchise direction.
The Bucks are trying to stay in the contender mix while Giannis recovers, and potentially even protect themselves against a worst-case scenario down the road. Meanwhile, Portland holds some of the keys to Milwaukee’s future - and that makes them a team to watch whether or not Jerami Grant ever suits up in green and cream.
Bottom line: the Bucks are swinging big. Whether that means landing Jerami Grant, reclaiming their draft future, or laying the groundwork for something even bigger, Milwaukee is clearly not standing pat. And in a wide-open East, standing still might be the most dangerous move of all.