Giannis Antetokounmpo Trade Rumors Intensify as Bucks Open to Listening

The Milwaukee Bucks are increasingly open to trade discussions involving franchise cornerstone Giannis Antetokounmpo, though any potential move before next week’s NBA trade deadline remains far from certain.

Multiple league sources say rival teams have been given the impression that Milwaukee is more receptive than at any previous point to hearing offers for the two-time NBA Most Valuable Player. Still, the organization has made clear it is under no pressure to act immediately and is prepared to revisit Antetokounmpo’s future during the offseason if its valuation is not met.

The evolving situation reflects mounting tension between competitive urgency and long-term roster planning for a Bucks team struggling well below expectations, even as Antetokounmpo has publicly denied requesting a trade.

Bucks listening, but price remains high

According to reporting by ESPN’s Shams Charania, Milwaukee has begun gauging the market ahead of the Feb. 5 trade deadline, with several teams believing the door is now at least partially open. However, league sources emphasized that the Bucks’ asking price remains steep, centered on either a blue-chip young player or a significant package of draft assets, if not both.

Milwaukee has also communicated that waiting until the summer could allow for a broader range of offers. Teams with more flexibility in June may be able to present stronger draft capital or clearer long-term fit, factors that could be decisive in any deal involving a player of Antetokounmpo’s stature.

Those close to the situation have said Antetokounmpo has privately expressed to the organization for months that he believes the partnership has reached a natural breaking point after more than a decade together. While that sentiment has made a trade increasingly plausible, it has not translated into a formal request.

Public denials and private frustration

Antetokounmpo has repeatedly and emphatically denied seeking a trade, stating publicly that he would “never” make such a demand and that it is “not in his nature.” Nevertheless, the context around those statements has grown more complex as Milwaukee’s season has unraveled.

The Bucks entered the year with championship aspirations but have fallen to 18–27, including a 3–12 record in games Antetokounmpo has missed. The forward has been candid about his frustration, at times criticizing the team’s execution and calling out what he described as selfish play.

Around the league, the prevailing expectation has been that any definitive break would come this summer rather than at the deadline. Antetokounmpo becomes eligible on Oct. 1 to sign a four-year, $275 million supermax extension with Milwaukee. If he signals an unwillingness to commit long term, the Bucks would face mounting pressure to trade him rather than risk losing him for nothing when he can opt into free agency in 2027.

Leverage and long-term considerations

Antetokounmpo’s contract timeline gives him inherent leverage in any trade scenario. Teams weighing a blockbuster offer must consider not only the immediate cost in players and draft picks, but also whether he would commit beyond the 2026–27 season.

If Antetokounmpo were to indicate he would not re-sign with a potential acquiring team, it could significantly limit what that team would be willing to surrender. That dynamic has quietly shaped conversations around his future for months and remains a central factor in Milwaukee’s calculus.

Salary cap rules complicate deadline deals

Beyond leverage and valuation, structural barriers make a midseason trade exceptionally difficult. The NBA’s new collective bargaining agreement imposes strict trade limitations on teams above the luxury tax “aprons,” restricting their ability to aggregate salaries or take back additional money.

Antetokounmpo is earning approximately $54.1 million this season, a figure that presents immediate logistical challenges. The New York Knicks, frequently mentioned as a preferred destination, are hard-capped at the second apron and sit less than $150,000 below it. Under those constraints, they would need to send out more salary than they receive, a near-impossible task given their current roster and asset pool.

Other teams often linked to Antetokounmpo face similar issues. Golden State is also hard-capped at the second apron, while Miami is constrained by the first apron. Even clubs with cap flexibility must weigh whether depleting young cores and draft capital aligns with their long-term strategies.

Some rebuilding teams that once appeared as theoretical suitors, such as San Antonio or Detroit, may also hesitate to pivot away from youth-driven progress to pursue a star entering his thirties.

Injury concerns add another layer

Antetokounmpo’s current calf strain further complicates any deadline calculus. The Bucks have not set a firm timetable for his return, though Antetokounmpo has indicated a recovery window of four to six weeks.

For contenders, acquiring him now would be driven largely by the hope of a deep playoff run this season. Yet he has missed significant time in recent postseasons due to similar lower-body injuries, raising understandable caution about making an all-in move without clarity on his health.

From Milwaukee’s perspective, waiting until the offseason could also allow Antetokounmpo to return fully, restoring both his on-court value and trade leverage.

Offseason remains most likely outcome

While league chatter around Antetokounmpo has intensified, the consensus among executives remains that a trade, if it happens at all, is more likely to occur in the summer. The combination of salary cap restrictions, injury uncertainty, and Milwaukee’s high valuation makes a deadline deal difficult to justify for most teams.

Still, the fact that the Bucks are now openly listening represents a notable shift. After more than a decade built around one of the league’s defining stars, Milwaukee appears to be preparing, at least internally, for the possibility of a future without Giannis Antetokounmpo.