As the NBA trade deadline looms on February 5, the Portland Trail Blazers find themselves in a position few would’ve predicted heading into the season: right in the thick of the Giannis Antetokounmpo sweepstakes. Yes, that Giannis - two-time MVP, 2021 NBA champion, and one of the most dominant forces the league has seen in the last decade.
With Milwaukee struggling and Giannis sidelined by a calf injury, the Bucks are reportedly at least listening to offers. And Portland?
They're not just listening - they're talking.
It’s a bold twist in what’s already been a transitional year for the Blazers. At 23-25, Portland is clinging to the 9th seed in the West, stuck in that all-too-familiar NBA purgatory: not quite rebuilding, not quite contending.
But a player like Giannis doesn’t just shift the needle - he breaks the scale. The question now is whether the Blazers should go all-in on a franchise-altering move or stay the course with their promising young core.
Let’s break down both sides.
The Case for Going Big: A Legit Shot at Contention
Let’s start with the obvious: Giannis is still Giannis. Even in a turbulent season for the Bucks, he’s averaging 28 points, 10 rebounds, and nearly 6 assists per game while shooting an absurd 65% from the field - and that’s in under 30 minutes a night.
He remains one of the league’s most efficient scorers and a perennial Defensive Player of the Year candidate. When healthy, he’s a top-five player in the world.
Period.
Now picture him in Portland, flanked by Damian Lillard and Jrue Holiday - a trio that already has championship chemistry from their 2021 title run in Milwaukee. Lillard may still be rehabbing, but his shooting gravity alone warps defenses.
Holiday brings elite perimeter defense and veteran leadership. That’s a core that could be ready to compete as soon as next season.
What gives Portland a real seat at the table is their unique leverage. Thanks to the Lillard trade, they own Milwaukee’s 2029 first-round pick outright, along with pick swaps in 2028 and 2030.
If the Bucks are ready to move on from Giannis, those picks suddenly become golden lottery tickets. Sending them back to Milwaukee could help Portland land Giannis without completely gutting their roster.
And the on-court vision? It’s compelling.
Imagine a lineup built around Giannis, Deni Avdija, Shaedon Sharpe, Toumani Camara, and Donovan Clingan. That’s a blend of star power, youth, and positional versatility.
Avdija has been quietly excellent on a team-friendly deal. Sharpe continues to flash All-Star potential.
Clingan gives them a legit interior presence. That group doesn’t just make the playoffs - they could make noise.
Then there’s the ownership factor. New team governor Tom Dundon hasn’t been shy about swinging big, and GM Joe Cronin has shown a willingness to be patient but bold.
If Giannis is open to the idea, Portland could offer him a four-year supermax extension come October. This wouldn’t be a rental.
It could be the start of something special.
The Case for Pumping the Brakes: Risk, Fit, and Long-Term Impact
Of course, there’s a reason this kind of move gives front offices heartburn.
For starters, the odds aren’t exactly in Portland’s favor. Reports suggest Giannis isn’t enamored with small markets, cold winters, or long-haul flights to Greece - all of which Portland has in spades. He holds a massive player option in 2027-28, and if he walks after a year and a half, the damage to Portland’s long-term plans could be catastrophic.
Then there’s the cost. Milwaukee wouldn’t just want their picks back - they’d want real talent.
That likely means parting with at least one of Avdija, Sharpe, Camara, Scoot Henderson, or Clingan. That’s a steep price for a player entering his 30s with a growing injury history.
Fit is another concern. Giannis and Avdija both operate best with the ball in their hands and love to attack the paint.
Spacing could get tight quickly, especially with Giannis’ limited three-point shooting. And with Portland just $7.9 million below the first luxury tax apron, the financial flexibility to reshape the roster around him is limited.
There’s also a more measured path forward. Portland could position itself as a third team in a Giannis trade, using its Milwaukee draft capital to extract value without taking on the full risk.
A player like Mikal Bridges or Jaden McDaniels could be a more realistic target - someone who upgrades the roster, fits the timeline, and doesn’t require blowing everything up. Meanwhile, if Milwaukee does implode, those Blazers-held picks only grow in value.
And let’s not forget: teams like the Knicks, Heat, and Warriors can offer bigger markets and more immediate title windows. Portland is in the race, but they’re not leading it.
The Bottom Line: Be Bold, But Be Smart
If there’s a real shot at Giannis, the Blazers owe it to themselves to explore it. Players like him don’t become available often, and Portland has the assets to make a legitimate offer.
But this can’t be a reckless swing. It has to be calculated.
Protect the young core. Use the Bucks’ picks as leverage.
Push for protections and extension assurances. And if the price gets too high?
Walk away. There’s no shame in knowing your limits - especially when your foundation is already promising.
Portland has options. Whether they go big, act as a facilitator, or simply hold tight and let their assets appreciate, they’re in a position of rare flexibility. That’s a good place to be - especially when the league’s biggest domino might be ready to fall.