MILWAUKEE — The 2026 NBA trade deadline is ready for 3 p.m. ET on Feb. 5. With one week remaining, all eyes are turned to Milwaukee to see what’s going to occur with Giannis Antetokounmpo, who’s at the moment sidelined with a proper calf pressure that may preserve him out till after the All-Star break.
As Brian Windhorst famous final week, “Giannis is the trade deadline. There is really not a lot of other players out there that can move the needle. There is very small to no market for Ja Morant or Anthony Davis. The entire league is watching Giannis.”
The two-time MVP has spent his whole profession with the Bucks, however his time in Milwaukee seems to be nearing an finish. Whether Giannis will get traded by Feb. 5 or in the summertime, the transfer may have league-altering implications.
On Wednesday, ESPN reported that Antetokounmpo is “ready for a new home” and groups throughout the league have “received a sense that the Bucks are more open than ever to Antetokounmpo offers between now and the deadline.” That doesn’t assure that the Greek Freak is dealt earlier than Feb. 5. He is underneath contract by means of 2027, and there is a good likelihood this saga stretches into the summer season when the Bucks, and groups, have extra flexibility. As Shams Charania additionally famous, the Bucks are “not in a rush to complete a move.”
Ahead of the deadline and what might be one of many biggest trades in NBA historical past, here’s an entire information to the Antetokounmpo scenario.
How did we get here?
In Game 2 of the Bucks’ first-round playoff sequence towards the Chicago Bulls in 2022, Khris Middleton stepped on a moist spot, took an ungainly spill and sprained the MCL in his left knee. That harm derailed the Bucks’ title protection. They went on to lose within the second spherical that season to the Boston Celtics — and put Middleton on a downward well being spiral that neither he nor the Bucks ever recovered from.
Middleton performed simply 33 video games in the course of the 2022-23 season, however the Bucks nonetheless earned the No. 1 seed within the Eastern Conference. Early in Game 1 of their first-round sequence towards the Miami Heat, Antetokounmpo suffered a again harm after a tough fall and didn’t return. He missed the following two video games, and although he returned for Game 4, the Bucks suffered inconceivable collapses in that contest and Game 5 to develop into the fifth No. 1 seed to lose to a No. 8 seed within the first spherical of the playoffs.
The Bucks’ choke in 2023 led to drastic adjustments. Championship-winning coach Mike Budenholzer was fired and changed by Adrian Griffin, and championship-winning level guard Jrue Holiday was traded to the Portland Trail Blazers in change for Damian Lillard. The beautiful transfer to amass Lillard additionally price the Bucks their unprotected 2029 first-round decide and unprotected swap rights in 2028 and 2030. It did, nonetheless, assist persuade Antetokounmpo to signal an extension — the deal he’s at the moment on, which can expire in 2027, assuming he doesn’t decide up his participant choice for 2028.
There was loads of pleasure about Lillard’s arrival, however regardless of the Bucks’ sturdy begin in his first season with the membership, hassle was brewing. Notably, the veteran locker room rapidly turned on Griffin, and the first-time head coach was fired in January of 2024 regardless of a 30-13 report. He was quickly changed by Doc Rivers, who struggled to match Griffin’s preliminary success. The Bucks went 17-19 to shut Rivers’ first season, partially resulting from accidents to Middleton, Antetokounmpo and Lillard. Antetokounmpo didn’t play within the posteason resulting from a calf harm, whereas Lillard missed two video games of their first-round sequence towards the Indiana Pacers resulting from an Achilles pressure. The Bucks had been bounced within the first spherical once more.
Middleton was sidelined once more to start the 2024-25 marketing campaign, and the Bucks got off to a 2-8 begin. Though they finally turned issues round, it was clear that Middleton was not his previous self and the workforce was not a critical title contender. They shipped Middleton to the Wizards on the deadline for Kyle Kuzma in an try to get youthful and extra athletic, whereas additionally creating some monetary flexibility, which allowed them so as to add Kevin Porter Jr. and Jericho Sims as nicely. None of it mattered as soon as Lillard was recognized with a blod clot in his calf in March. Lillard sat out the rest of the common season, however made a shock return within the playoffs. He didn’t seem like proper, nonetheless, and tore his Achilles in Game 4 of the Bucks’ first-round sequence with the Pacers, which they finally misplaced in 5 video games.
The vultures began circling for a Giannis trade the second Lillard’s Achilles tear was confirmed, however the Bucks fended them off in the summertime. They made a surprising resolution to waive Lillard and stretch the remaining $103 million on his contract over the following 5 years, then used the cap area that freed as much as signal Myles Turner. The determined ploy to maintain Antetokounmpo round labored — not less than initially. After an thrilling 4-1 begin to this season, the Bucks have been one of many worst groups within the league, and the vibes have trended steadily downward. Antetokounmpo has been restricted to 30 video games, and they’ve had different harm issues, however the workforce has no hope of creating any noise within the Eastern Conference. They’re in eleventh place because the calendar flips to February.
You can take subject with the Bucks’ selections, a few of which had been extra determined and short-sighted than others — buying and selling 5 second-round picks for Jae Crowder in 2023 stands out as notably silly — however you possibly can’t fault their effort. They did every part in their energy to increase their window and preserve Antetokounmpo on the town for so long as doable, and handled some horrible luck alongside the way in which.
Now, with Antetokounmpo sidelined indefinitely and the ultimate 12 months of his contract approaching, the writing is on the wall.
What has Antetokounmpo stated a couple of trade?
Quite a bit. And a few of it contradictory. Let’s run by means of some notable quotes from Giannis over the past 4 months.
Oct. 7, 2025: “I’ve said this many times: I want to be in a situation that I can win. I believe in this team. I believe in my teammates. I’m here to lead this team to wherever we can go. It’s definitely going to be hard. We’re going to take it day by day, but I’m here. So all the extra stuff does not matter.
“I’ve communicated with my teammates, communicated with the folks I respect and love, that the second I step on this courtroom or on this facility, I put on this jersey, the remainder doesn’t matter. I’m locked into no matter I’ve in entrance of me. Now, if in six, seven months I modify my thoughts, I believe that is human, too.”
Oct. 28, 2025: “Right now I’m here, representing my team and that’s it. We beat the Knicks. (The trade rumor) doesn’t really matter. What matters right now is we have a game in two days against Golden State, try to stay locked in and get two in a row. I didn’t read that article. Try to stay away from all that — rumors, speculation and trades and all this. It doesn’t concern me one bit.
Dec. 18, 2025: “If my agent is speaking to the Bucks about (a trade), he is his personal particular person. He can have any dialog he needs. At the tip of the day, I personally haven’t had the dialog with the Bucks. I’m nonetheless locked in, locked in on my teammates, most significantly locked in on me getting again wholesome.”
Jan. 8, 2026: “I’m not (going anyplace). I’m invested on this workforce. I need to flip this workforce round. I need to play good basketball. I need to be wholesome. I need to assist my teammates. I wanna win video games. The final six video games we have performed, we’re 4-2. We have loads of video games in entrance of us. I’m locked the f— in. I’m locked in. My precedence is simply staying wholesome.
“My plan is to be here for the rest of my career. If they don’t want me … I’m not the one in charge. I am an employee.
“There won’t ever be an opportunity, and there’ll by no means be a second that I’ll come out and say, ‘I need a trade. That’s not … in … my … nature. OK?”
Jan. 13, 2026: “I used to be undoubtedly booing again. When I get booed, I boo again. I’ve been doing that every one season. You guys have not been with me on the highway. Whenever I get booed, I boo again.
“I play basketball for my teammates, I play basketball for myself and my family. When people don’t believe in me I don’t tend to be with them, I tend to be against them. I tend to do what I’m here to do, what I’m good at. I think I’m like a maverick. I’ve always been that way, so it won’t change now. It doesn’t matter if I’m at home or away. I’ve never been a part of something like that before and I don’t think it’s fair. I don’t. But everybody has their opinion to do what they want to do. I’m not gonna tell them what to do and how they should act when we don’t play hard or when we lose games or when we’re not where we’re supposed to be. And I don’t think anybody has the right to tell me what or how I should act on the basketball court after I’ve been here 13 years and I’m basically the all-time leader in everything.”
Jan. 19, 2026: “I don’t know (if I’ll finish the season with the Bucks). I take it day-by-day,”
Jan. 21, 2026: “I’m not the man that may yell and cuss his teammates out and demand the ball. I’ve by no means finished that in my profession, however I really feel like I’ve performed with teammates that kinda perceive the gravity that I could cause for our workforce and how I can create for my teammates or for myself and how I may also help the workforce be extra profitable. But perhaps for some motive — I do not perceive.
“Maybe because we’re young, maybe because we’re not playing well, maybe because guys think it’s their turn, they want to carry the team on their back and try to turn this around, but I really don’t get it. I really don’t It’s not like I’m not trying to be aggressive. I’m really trying to be aggressive. I have coaches, people that talk to me, they told me there’s this thing that’s called the white swan and the black swan. You gotta be the black swan and be more aggressive and demand the ball. It’s something I’ve never done in my whole career. Maybe I gotta do it more.
“We’re not taking part in laborious. We’re not taking part in to win. We’re not taking part in collectively. Our chemistry isn’t there. Guys are being egocentric. Guys will attempt to search for their personal shot as an alternative of on the lookout for the correct shot for the workforce.”
Where do trade talks stand?
It’s vital to notice that, in response to Chris Haynes, Antetokounmpo nonetheless has not requested a trade.
“Nothing has changed on Giannis’ end. Nothing has changed there. The new news is the Bucks’ willingness to listen now. That is different,” Haynes reported Wednesday. “As far as Giannis is concerned, he had not requested a trade. I don’t foresee him ever requesting a trade.”
But whereas Antetokounmpo could by no means stroll into Jon Horst’s workplace and demand to be traded, that does not imply that he is against taking part in elsewhere. That’s been clear for the reason that offseason, when Charania reported that Antetokounmpo had curiosity in taking part in for the Knicks, who engaged in trade talks with the Bucks.
Antetokounmpo is signed by means of 2027, with a participant choice for 2028 that he’s assuredly going to say no to develop into an unrestricted free agent in the summertime of 2027. The nearer he will get to free company, the extra stress that places on the Bucks. They had been in a position to persuade him to signal an extension in 2023, and will be capable to provide him one other one in October if he is nonetheless on the roster, but it surely appears unlikely that he’ll re-up this time round. As a lot because the Bucks clearly don’t need to trade him, letting him stroll for nothing in 2027 can be a lot worse than buying quite a lot of draft picks and younger gamers — particularly when it is clear this workforce isn’t a contender.
Thus, as Charania reported, the Bucks are actually prepared to take calls forward of the deadline. At the very least, the following week will give Horst and Co. a take a look at the market and what they may probably get for the 10-time All-Star. But as a result of Antetokounmpo is signed till 2027, the Bucks have the power to attend till the summer season in the event that they suppose there shall be higher offers obtainable then.
It’s additionally price noting that Antetokounmpo is making $54 million this season, and buying and selling a participant with that kind of wage mid-season is difficult as a result of restrictions on groups which might be above the posh tax. The Bucks’ lack of future draft picks is one other complicating matter. They don’t management their personal decide till 2031, which suggests they can not simply trade Antetokounmpo and tank for just a few years. That will have an effect on what they ask for in return for their celebrity.
Which groups are within the combine?
It’s uncommon for gamers of Antetokounmpo’s caliber to develop into obtainable, and loads of groups shall be . However, Antetokounmpo’s impending free company standing signifies that groups desirous about buying and selling for him must ask the identical questions the Bucks have apparently answered for themselves: does he need to be here long-term, and will he signal an extension?
A workforce just like the Portland Trail Blazers, which controls three of the Bucks’ future first-round picks (unprotected 2029 choice and unprotected 2028 and 2030 swap rights), may make arguably the very best provide. But it is unlikely Antetokounmpo would signal an extension in Portland, even with Holiday and Lillard within the combine.
To no shock, then, the main candidates to amass Antetokounmpo are all both contenders or massive market groups. According to each ESPN and The Athletic, the principle suitors are the New York Knicks, Miami Heat, Golden State Warriors and Minnesota Timberwolves, and the Bucks have already acquired “aggressive” affords.
Giannis Antetokounmpo trade touchdown spots: Three groups that work now and six extra that would strike in summer season
Sam Quinn
While Charania reported in the course of the offseason that the Knicks had been the one workforce that Antetokounmpo needed to play for other than the Bucks, Antetokounmpo’s considering as since modified. Per ESPN, Antetokounmpo is “not expected to focus on one destination.”
