Bucks star Giannis Antetokounmpo has become open-minded about considering opportunities outside of Milwaukee for the first time in his career, sources tell Shams Charania of ESPN.
Teams have routinely called to check on Antetokounmpo’s potential availability in recent years, and that process is expected to intensify as they gather in Chicago this week for the draft combine, Charania adds.
Antetokounmpo’s representatives, Giorgios Panou and Alex Saratsis, will meet with Bucks officials at some point to discuss the team’s future and determine whether Milwaukee is still the best fit for their client, according to Charania’s sources. The Bucks are reportedly resistant toward the idea of trading Antetokounmpo, who is still under contract through the 2026/27 season and holds a $62.8MM player option for the following year, and are unlikely to pursue a deal unless he requests it.
Speculation about a possible Antetokounmpo trade has been rampant since the Bucks were eliminated by the Pacers last month, marking the third straight year they have been ousted in the first round. Antetokounmpo has been open about his desire to add another championship to the one he captured in 2021, and there are doubts regarding whether he still has any hope of achieving that in Milwaukee.
The situation became more dire with the torn left Achilles that Damian Lillard suffered in Game 4 of the Indiana series. Lillard underwent surgery last week and faces a lengthy rehab process that could force him to miss all of next season. That would leave the Bucks without a second star to team with Antetokounmpo and little chance to acquire one as Lillard remains on the books for $54.1MM next season with a $58.5MM player option for 2026/27.
Charania notes that Antetokounmpo, a finalist for MVP honors, just completed one of the best seasons of his career, averaging 30.4 points, 11.9 rebounds and 6.5 assists in 67 games while shooting 60.1% from the field. He raised those numbers in the playoffs, posting 33 points, 15.4 rebounds and 6.6 assists per night in the five-game loss.
Antetokounmpo has established himself as one of the greatest players in Bucks history since being selected with the 15th pick in the 2013 draft. He’s a two-time MVP and a nine-time All-Star, and he delivered the team’s first NBA title in 50 years.
According to Charania, Milwaukee’s .663 winning percentage since 2018/19 is the best in the league. However, the Bucks only have one playoff series victory since their 2021 championship season.
If Antetokounmpo goes on the market, teams that can offer young talent and a stockpile of draft assets are considered to be the most likely destinations. The Rockets, Spurs, Thunder and Nets have already been mentioned prominently in trade speculation, but Milwaukee’s front office would likely hear offers from all 29 rival teams.
Charania notes that the Bucks have an opportunity to remake their roster this summer, with Kyle Kuzma, A.J. Green, Andre Jackson, Chris Livingston and Tyler Smith joining Antetokounmpo and Lillard as the only players currently under contract. Bobby Portis, Pat Connaughton and Kevin Porter Jr. hold player options for next season, and they could decide to join Brook Lopez, Taurean Prince and Gary Trent Jr. as free agents.
However, the Bucks are already facing cap concerns as Antetokounmpo, Lillard and Kuzma will earn roughly $130MM of the $164MM they already have committed for 2025/26. General manager Jon Horst has limited draft assets to offer in any trade, with the franchise not controlling any of its first-round picks until 2031.
Charania notes that the Bucks were able to escape the second apron with the Kuzma trade in February, but they still have limited breathing room heading into the summer. They’re currently about $23MM below the luxury tax and $41MM away from a return to the second apron for next season.
Charania points out that even a modest offseason that includes re-signing Lopez, using the $14.1MM non-taxpayer midlevel exception and filling out the roster with minimum-salary signees would put Milwaukee into tax territory for the sixth straight year.