Giannis Antetokounmpo and Bucks officials have both attempted to quash speculation about a potential trade over the past two weeks, but teams around the league continue to closely monitor the situation, according to two prominent NBA observers.
ESPN’s Brian Windhorst said during a recent appearance on NBA Countdown (YouTube link) that numerous deals are on hold because rival teams aren’t convinced that Antetokounmpo won’t be moved by the February 5 trade deadline. General managers are reluctant to part with assets that could be useful if the two-time MVP were suddenly to become available over the next two-and-a-half weeks.
“The biggest question in the NBA right now is are the Bucks really going to stand for this and is Giannis really going to stand for this,” Windhorst said. “And I know what Giannis has said on the record and I know that the Bucks have been out there trying to buy, but I’m telling you when I talk to people in the league, they’re still holding, waiting to see. … There are deals that are on hold … because teams still aren’t 100% sure whether Giannis is going to be on the team the rest of the year, and these last few games have made them even stutter some more.”
NBA insider Zach Lowe identifies the Hawks, Warriors, Lakers, Heat and Knicks as teams that are “considering holding onto their assets for a potential pursuit of Giannis Antetokounmpo now or in the summer” (Twitter video link). Lowe notes that Antetokounmpo, who’s signed through next season and holds a $62.8MM player option for 2027/28, will become eligible for an extension in October.
“If he doesn’t take that extension, that’s the same things as basically demanding a trade,” Lowe said. “… Right now, the Bucks are only 5-5 since he came back from injury. They are getting shellacked every second that he’s off the floor on the bench resting. They’re still in 11th in the East, and the time to convince him that this group can actually do anything serious might be now.”
Lowe suggests the Bucks should target Grizzlies guard Ja Morant in their search for immediate help. Morant, who had 24 points and 13 assists on Sunday as he returned from a right calf injury, has been among the most prominent names on the trade market, but he said after the game that he’s a “loyal guy” and prefers to stay in Memphis.
“The whole league is watching,” Lowe added. “If they slide any further down the standings, if they can’t even get up to 10th or ninth in the East, does Giannis push the button now instead of waiting until the summer? It’s the biggest story in the NBA potentially.”
Milwaukee is coming off a miserable week, dropping three straight games, including an 18-point loss to San Antonio and a 33-point loss to Minnesota. At 17-24, the team is still only 1.5 games behind 10th-place Atlanta for the East’s final play-in spot and 2.5 games in back of ninth-place Chicago.
The Bucks have sent out strong indications that they’ll approach the trade deadline as buyers in hopes of making a late-season run. But they have limited trade assets available and are reportedly reluctant to part with their lone tradable first-round pick (in either 2031 or 2032).
Even if Milwaukee manages to earn a playoff spot, there’s no guarantee that will satisfy Antetokounmpo, who has stated repeatedly that he wants to win another championship before he retires. Regardless of the Bucks’ official position, teams are preparing for the possibility that a trade might happen by the deadline.