RealGM Basketball Wiretap

31 January 2026

• Blazers Interested In Acquiring Giannis Antetokounmpo Vs Only Helping To Facilitate Trade

  The Portland Trail Blazers have been linked as a potential facilitator in Giannis Antetokounmpo trade talks. However, Portland as let the Milwaukee Bucks know that they have some interest in acquiring Antetokounmpo themselves.

  Portland has both Damian Lillard and Jrue Holiday on their roster, who the Bucks star enjoyed playing with in Milwaukee. The Blazers also have control of future Bucks first-round picks and swaps from 2028 through 2030.

  It's the draft capital that has had Portland linked to trades where Antetokounmpo lands elsewhere. In those constructions, the Trail Blazers would receive a player or two themselves, while routing the draft capital to the Bucks for a team that doesn't have sufficient draft assets of their own to offer.

• Giannis Antetokounmpo Trade Unlikely Until Thursday Deadline, Could Wait Summer

  The prevailing expectation from rival executives is that the Milwaukee Bucks will not trade Giannis Antetokounmpo until right before the trade deadline on Thursday, and some are preparing for the possibility that no deal will be completed until the offseason, sources tell ESPN.

  "I'm just not sure why it wouldn't make sense to wait," an East scout said. "They can see where the draft [lottery] is, and survey their options then."

  The Bucks have clearly indicated they are listening to Antetokounmpo trade offers for the first time, but general manager Jon Horst has signaled there is no urgency in the discussions. The Golden State Warriors, Minnesota Timberwolves, Miami Heat and New York Knicks have initially emerged as the teams with the most interest. The Los Angeles Lakers represent a team that could assemble a much stronger offer in the offseason.

  There are four key reasons why the Bucks could wait until the offseason to execute an Antetokounmpo trade:

  1. Antetokounmpo is currently sidelined multiple weeks with a calf injury. Any team acquiring him will be forced to sacrifice existing players in a trade, making it challenging to continue winning games before his return.
  
  2. Teams will have access to more draft picks in June, and the Bucks will have the opportunity to evaluate the results of the 2026 lottery.
  
  3. Teams with disappointing playoffs may be more motivated to enter the bidding for Antetokounmpo than they are currently.
  
  4. Constructing a blockbuster trade is functionally easier in the offseason when roster limits are not an issue.

• Lakers Team To Watch For Giannis Antetokounmpo

  Multiple NBA teams are putting together their best offers for Giannis Antetokounmpo. For some teams, that best possible package of assets will have to be delayed until the offseason. One such team is the Los Angeles Lakers.

  The Lakers and Antetokounmpo reportedly have some level of mutual interest in teaming up. However, the Lakers don't have an attractive trade package to offer for the Milwaukee Bucks superstar at the trade deadline. Los Angeles can only trade one first-round pick now, and they don't have enticing young prospects to offer Milwaukee.

  In the offseason, the Lakers would be able to offer up to three first-round picks. In addition, Los Angeles could absorb Antetokounmpo's contract into cap space, without Milwaukee having to take back potentially unwanted salary.

• Potential Suitor Wary Of Giannis Antetokounmpo's Next Four-Year, $275M Contract

  One of the more overlooked aspects of Nico Harrison's decision for the Dallas Mavericks to trade away Luka Doncic to the Los Angeles Lakers last year was his concerns about signing him to a supermax contract. Harrison lacked confidence that signing Doncic to a five-year, $345 million deal was a wise decision. At least one team feels similarly about Giannis Antetokounmpo as they determine whether to pursue him via trade.

  "I know there's one team I talked to who would be able to put a package together, a pretty compelling package, and they said 'We're just not crazy about that contract with our options that we can do. Just don't know if we want to commit to $275 million to him,'" said Brian Windhorst on The Hoop Collective Podcast.

  "And you can't trade all that stuff if you're not that committed to him."

  Antetokounmpo will become eligible to sign a four-year, $275 million contract in October if he remains with the Milwaukee Bucks or with his next team if he is traded by the deadline. If Antetokounmpo is traded in the offseason, he will have to wait until January to sign the extension.

  Antetokounmpo is currently out indefinitely with his second calf strain of the season. The uncertainty surrounding his contract extension complicates potential trade scenarios for teams considering acquiring the two-time MVP who just turned 31 in December.

  The situation mirrors Harrison's evaluation of Doncic before the trade. Teams must weigh the substantial financial commitment against their championship aspirations and roster flexibility.

• Bucks Could Be Setting Giannis Antetokounmpo Trade Prices At Deadline Before Full Auction In Offseason

  The Milwaukee Bucks shifted their position this week in beginning to listen to trade offers on Giannis Antetokounmpo. Several front offices believe Jon Horst and the Bucks are attempting to establish baseline trade offers now before conducting a complete trade auction in the offseason when teams can offer more picks.

  "They're asking for the moon," one general manager told The Stein Line on Thursday morning. "All of your young players and all of your draft picks."

  As recently as Monday, the Bucks were scouring the trade market in hopes of adding players to improve their roster for the current season with Antetokounmpo firmly in place.

  By waiting until the offseason, the mechanics of a trade become easier for all parties. The Bucks will also have the opportunity to evaluate the results of the lottery in May.

  Antetokounmpo will have one season remaining on his contract this offseason.

• Giannis Antetokounmpo Has Wolves, Sixers On List Of Potential Teams

  Giannis Antetokounmpo has had the Minnesota Timberwolves on his list of teams he would be interested in joining dating back to last offseason, sources tell The Stein Line. Antetokounmpo finds the idea of teaming up with Anthony Edwards appealing to him. Antetokounmpo feels similarly about Tyrese Maxey and the Philadelphia 76ers.

  The Wolves are limited in what they can send out in terms of future draft capital and would almost certainly need another team to highly value Jaden McDaniels in order to construct a package attractive enough for the Milwaukee Bucks to take it compared to what other teams could potentially offer.

  Tim Connelly is known as one of the more aggressive executives in the NBA, evidenced by his trades for Rudy Gobert and Julius Randle. Last year, the Wolves attempted to trade for Kevin Durant.

  If the Bucks wait to trade Antetokounmpo until the offseason, the Wolves could gain access to two additional first round picks to offer.

  At this point, sources say the Sixers have not contacted the Bucks about a potential Antetokounmpo trade. Maxey, like Antetokounmpo and Joel Embiid, works out with NBA trainer Drew Hanlen.

• Warriors, Heat, Wolves, Knicks Strongest Suitors For Giannis Antetokounmpo

  In a recent appearance on Inside the NBA on ESPN, NBA Insider Shams Charania gave some details into the Giannis Antetokounmpo trade discussions. Charania said that the strongest suitors at this point for Antetokounmpo are the Golden State Warriors, Miami Heat, Minnesota Timberwolves and New York Knicks.

  The Warriors have been linked to a number of high-priced superstars over the years. They could put together a trade package of several players, along with draft picks. Or Golden State could try to tempt Milwaukee by offering Jimmy Butler, along with younger players and draft picks.

  The Heat don't have overwhelming draft picks to offer the Bucks, but could match salary in a number of different ways.

  The Wolves and Knicks are both facing issues as first-apron teams who aren't far below the second apron. Neither can bring back more money than they send out in a deal. That means that trading for Antetokounmpo would likely see Minnesota or New York involving a third team as a facilitator.

• Rockets, Spurs Not Expected To Enter Trade Deadline Bidding For Giannis Antetokounmpo

  The San Antonio Spurs and Houston Rockets each possess the combination of young talent and future draft picks where they could put together a trade offer to the Milwaukee Bucks for Giannis Antetokounmpo without completely sacrificing their ability to compete for a title this season. But neither team is expected to enter the bidding for Antetokounmpo now that he has come onto the market ahead of the February 5th NBA trade deadline.

  "I have been told the Rockets will not be bidders," said ESPN's Tim MacMahon on an emergency episode of the Hoop Collective Podcast. "Now, nobody was under oath but I've been told that repeatedly and I will say they have a pretty good track record of shooting me straight."

  The messaging from the Spurs to MacMahon has been similar as they continue to believe their best path in building a title contender around Victor Wembanyama is their combination of young guards Stephon Castle and Dylan Harper to go with a more veteran guard in De'Aaron Fox.

  "I have been told by folks with the Spurs 'We're not a home for Giannis,'" said MacMahon. "And there's been a lot of smoke going back to the summer, but everything in San Antonio is about the Wemby timeline. And this is a decade past the Wemby timeline when you bring in Giannis at his age."

  "I do not think the Spurs are a bidder," interjected Tim Bontemps.

  The Rockets can currently trade up to five future unprotected first round picks plus three swaps, while the Spurs can send out up to four future unprotected first round picks plus three swaps, according to RealGM's Tradeable NBA Draft picks page.

• Warriors Identified As Team That Could Put Together Best Trade Package For Giannis Antetokounmpo

  The Golden State Warriors are believed to have the best potential trade offer to the Milwaukee Bucks for Giannis Antetokounmpo if there's a two-team deal to be made before the trade deadline. Antetokounmpo and the recently injured Jimmy Butler make the same salary, while the Warriors also retain all of their future first round picks. Golden State can even trade its 2030 pick if it is between 1-20.

  "Now, what the Bucks have to do is look at who has done this the best," said Brian Windhorst on NBA Today. "Who has been in this situation? Who should they mimic? Let's just look back at 2019 and the Oklahoma City Thunder. They had to trade Paul George and Russell Westbrook. They prioritized far out draft picks and really good young players. They ended up getting picks that they still haven't all gotten from the LA Clippers yet. And a future MVP in Shai Gilgeous-Alexander. So that's what they're looking for.

  "Don't prioritize trades that bring in players that can help them now because the Bucks are in a position where they need to worry about this year's draft pick. They need to tank the rest of the season. Improve this year's draft pick and put themselves in position to rebuild as fast as possible.

  "If they're going to make a straight-up trade, you're looking at teams that can give the most opportunities. The Golden State Warriors are a team that immediately rises to the top of the list as far as the teams that can make a straight-up trade with the Bucks. The Warriors hold all of their future draft assets. They can trade up to four firsts and swaps. Steph Curry is there. They have an immediate need for a star player. This is where this discussion begins is Golden State. And everybody else, I think, is going to have to beat a strong Golden State offer if it comes."

• Giannis Antetokounmpo Opens Door To Multiple Teams After Summer Focus On Knicks

  Giannis Antetokounmpo has broadened his list of preferred trade destinations after focusing exclusively on the New York Knicks during a brief window this past summer. The two-time MVP is now expected to consider multiple teams rather than limiting discussions to a single organization.

  The Milwaukee Bucks engaged in trade conversations with the Knicks several months ago when New York emerged as the only destination Antetokounmpo wanted outside Milwaukee. Sources told ESPN that New York never believed Milwaukee seriously entertained the idea of moving their franchise player at that time.

  Milwaukee officials believed the Knicks never made a strong enough offer to continue trade discussions. The Bucks picked up New York's call for an exclusive negotiating window but maintained throughout the first half of the 2025-26 season that their superstar remained unavailable.

  ESPN's Shams Charania reported Wednesday that Milwaukee is now engaging with teams on possible deals for Antetokounmpo. The development opens the possibility that the 31-year-old forward, currently sidelined with a calf strain, has played his final game with the franchise that drafted him in 2013.

  League sources have long believed it would require a more forceful effort from Antetokounmpo to force an exit from Milwaukee. His willingness to expand beyond the Knicks represents a significant shift in his approach to determining his future.

  Antetokounmpo has been clear about his priorities for the second half of his career. While still in his prime, he wants a team that will provide a legitimate opportunity to compete for a second championship after winning the title with Milwaukee in 2021.

  "I just want more," Antetokounmpo said near the start of the season. "I want to win another championship. I want to win another medal for the national team. Legacy is very important for me.... You got to play to win. I don't play to be around and get paid."

  His championship-focused mindset makes trading for Antetokounmpo particularly challenging for potential suitors. Any team acquiring him must surrender a significant return while retaining enough talent to give him confidence in their championship contention prospects.

  Antetokounmpo can become a free agent as early as summer 2027. Teams considering trades must balance the assets required to acquire him against maintaining a roster capable of convincing him to commit long-term rather than testing free agency.

  New York's exclusive window this summer represented Antetokounmpo's first indication of preferred destinations outside Milwaukee. His shift toward considering multiple teams suggests either changing priorities or recognition that limiting options could restrict his championship opportunities.

  The Bucks have struggled this season despite Antetokounmpo's individual excellence. His injury absence has further exposed roster deficiencies that may have influenced his willingness to consider alternative destinations for pursuing championships.

  Teams interested in acquiring Antetokounmpo must navigate complex negotiations balancing his stated championship priorities with roster construction realities.