The NBA trade deadline rumor mill is now officially in full swing.
A massive update related to Giannis Antetokounmpo 's future with the Milwaukee Bucks came across Wednesday, Jan. 28, and it's one that will have ripple effects across the entire trading market.
Several teams with the assets necessary to make a bid for Antetokounmpo have been waiting for him to become officially available in a trade, which has caused the overall market to lag some.
That means stars such as Anthony Davis , Ja Morant might have to wait for resolution in the Antetokounmpo case to see if they'll have new homes.
The trading deadline is Thursday, Feb. 5, at 3 p.m. ET.
Here are the latest trade rumors surrounding Giannis Antetokounmpo and his future with the Milwaukee Bucks :
Giannis Antetokounmpo trade rumors
According to an ESPN report that published Wednesday morning , Antetokounmpo has indicated he's ready to move on from the Bucks, which is essentially a euphemism that he's requesting a trade.
Antetokounmpo and the Bucks have been cautious about optics in this case, and neither side has wanted to appear – at least in the public eye – as the culprit for what is becoming an inevitability.
Per ESPN, the Bucks are now more open than ever to field offers for Antetokounmpo prior to the trading deadline, though Milwaukee is under no obligation to move the two-time MVP.
In fact, the Bucks are operating from a position of some leverage and can wait until the offseason to find resolution in this case. Teams are constrained by the salary cap and limited roster size during the season, and suitors will have far more draft capital available to ship to Milwaukee.
A trade like this also may require a third or fourth team, so the logistics of wrangling all moving parts together before next Thursday would be complicated.
ESPN also reported that potential suitors have gotten the sense that Milwaukee is willing to listen to offers. The question now becomes whether any team can present a deal enticing enough for the Bucks to maximize their return on Antetokounmpo, who has spent 12½ seasons in Milwaukee.
Antetokounmpo, 31, has averaged 28.0 points, 10.0 rebounds and 5.6 assists through 30 games this season, though he recently suffered a right calf strain that will sideline him for at least the next month.
Giannis Antetokounmpo landing spots
Now more than ever, it's a near inevitability that Antetokounmpo and the Bucks are nearing the end of their relationship.
It may come before the trading deadline, or it may come in the offseason, but Milwaukee, understandably, has started to listen to offers and may consider shipping the two-time Most Valuable Player before Feb. 5.
With that said, which teams can actually present compelling cases to land the versatile star?
Click here to see the potential landing spots for Antetokounmpo.
What are Bucks looking for in Giannis Antetokounmpo return?
Per ESPN's Shams Charania , the Bucks are seeking "a young, blue-chip talent and/or a surplus of draft picks. And probably a combination of both things."
Giannis Antetokounmpo next team odds
On Wednesday evening, Draft Kings reported big movement on the odds for where Antetokounmpo will be playing after the trade deadline.
The Bucks saw their odds shift from -120 to plus money, now at plus +120. The other big movers were the Timberwolves (+3000 to +1500) and Hornets (+10000 to +2200).
What could a Warriors ' trade offer entail?
NBA insider Jake Weinbach has come up with what he believes would be a fair offer between the Warriors and Bucks.
The Bucks are looking for picks given that their don't own the rights to any of their first-round picks through 2031, and Golden State can offer them just that. However, other reports indicate that the Warriors would like to keep Brandon Podziemski out of trade talks for Giannis if at all possible. In fact, just last year, the team's front office reportedly told him he was untouchable . That may have to change if the team wants to contend in these Antetokounmpo sweepstakes though.
Where does Giannis rank among all-time Bucks?
Antetokounmpo is the Bucks' all-time leader in points (21,377), rebounds (8,831), assists (4,456), blocks (1,086), triple-doubles (56), games played (889), field goals (7,839) and field goal attempts (14,155).
Most importantly though, Antetokounmpo led the team to its first NBA title in 50 years, dropping 50 points in the decisive Game 6 against the Phoenix Suns . He was named Finals MVP as well.
Antetokounmpo is also one of just 12 players in NBA history to win back-to-back MVPs, winning the award in both 2019 and 2020. He is widely considered the greatest player in franchise history.
Heat, Knicks , Wolves expected to be involved
ESPN reports that aside from the Warriors, the Miami Heat , New York Knicks , and Minnesota Timberwolves will be heavily involved in talks to acquire Antetokounmpo.
The Knicks have long been linked to Antetokounmpo, with several rumors coming during the 2025 offseason. Antetokounmpo has also expressed interest in joining the Knicks himself. Given their trade pieces and ability to contend for a title, the Knicks have long been the favorite to land Giannis.
CBS Sports reports that if New York wants to trade for Antetokounmpo, it will likely have to be a multi-team trade though. Since Milwaukee does not control any of its own first-round picks through 2031, draft capital will be the largest commodity in any trade for the Greek Freak. New York doesn't exactly have that. They've sent several first-round picks away in order to contend including picks in the Mikal Bridges and Karl-Anthony Towns deals.
A noteworthy stat to consider
Antetokounmpo has been wildly efficient when on the floor, shooting 64.5%, but any team that would trade for him would almost certainly need to adapt its offense, to some degree.
Antetokounmpo is the best transition player in the NBA, routinely going coast-to-coast in long strides. He's also dominant with his back to the basket in the halfcourt.
To that end, Antetokounmpo leads all players in the league with a staggering average of 18.7 points per game that are scored in the paint.
All this to say that if Antetokounmpo is indeed moved, his new team will look to get out into space and score on fast breaks.
Interesting Warriors trade package proposal
ESPN's Brian Windhorst floated an interesting possibility for a trade package, one that could tempt Milwaukee if it's prioritizing draft picks. While Golden State may not have the young talent the Bucks are said to be interested in, the Warriors own all of their immediate future draft picks.
NBA trade deadline: Warriors trade rumors: Can Golden State pull off Giannis trade?
What does Giannis Antetokounmpo's contract look like?
This is the crux of why it's seemingly inevitable that the Bucks move on from Antetokounmpo. He's in his 13thseason in the league and is currently locked in through the end of next season (2026-27) for a combined $112.6 million.
After that, he has a player option for 2027-28 worth a staggering $62.8 million. But if Antetokounmpo feels the Bucks are no longer in a position to contend, there's a scenario where Milwaukee could see him walk in free agency and get nothing in return. That's why a trade now (or in the offseason) makes sense; this way, the Bucks can recoup assets for their rebuild and life without Antetokounmpo.
But Antetokounmpo's massive salary is also what makes a trade somewhat complicated; the salary returned has to match for both teams to stay under punitive aprons.
One last thing to note here: the only way Antetokounmpo would be able to sign a max contract with a new team this offseason would be if he's traded before the deadline. That's because a player must be with his current team for at least six months before he can sign a max contract.
Giannis Antetokounmpo stats this season
The Bucks star has already missed 15 games this season due to injuries, but he remains incredibly productive when on the court. In 30 games this year, Antetokounmpo is averaging 28.0 points on an absurdly efficient 64.5% shooting rate, with 10.0 rebounds and 5.6 assists per game.
Giannis Antetokounmpo injury update
Another reason why this has been a frustrating season for Antetokounmpo has been injuries.
Antetokounmpo reaggravated a right calf strain Friday, Jan. 23 in a 102-100 loss against the Nuggets , and indicated that he would miss between four-to-six weeks. That sidelines him well beyond the Feb. 5 trading deadline, and could complicate any potential trade that would come before the deadline; essentially, any team acquiring him would need to feel that Antetokounmpo would be available and fully healthy for the back half of the season, into a push for the playoffs.
Earlier in December, Antetokounmpo had also missed eight games with a previous right calf strain .
In fact, including a strained adductor sustained in mid-November , Antetokounmpo has missed 15 games this season because of injury.
Milwaukee Bucks playoff chances
Antetokounmpo has said time and again that his priority is to compete for championships. He led the Bucks to a title in the 2021 NBA Finals over the Phoenix Suns, and he has been chasing that ever since.
The Bucks, however, have struggled significantly this season, with Antetokounmpo and without.
Milwaukee is 18-27 and fell behind the Charlotte Hornets in the standings. The Bucks are currently on a three-game losing streak and sitting in 12thplace. The play-in picture starts with the 10thseed, so there's the chance – especially with Antetokounmpo expected to miss at least a month – that Milwaukee keeps sliding.
The Antetokounmpo injury also makes it less likely that the Bucks would be buyers at the deadline.
Milwaukee is 15-15 when Antetokounmpo plays, compared to 3-12 when he's out.
Giannis has expressed frustrations recently
It has been a turbulent season for Antetokounmpo in Milwaukee.
It all started before the season, during Bucks media day on Sept. 29, when team owner Wes Edens said he and Antetokounmpo met in June , and that Antetokounmpo reaffirmed his commitment to Milwaukee.
"I had a great conversation with Giannis back in June out here, where he was very committed to Milwaukee," Edens told reporters in September. "He likes being here. He likes his family being here."
But when it was his turn to speak, Antetokounmpo said he could not recall that conversation and did not give any assurances that he's committed to the Bucks beyond the present.
"I want to be on a team that allows me and gives me a chance to win a championship," Antetokounmpo said. "It is never going to change. I want to be among the best."
Then, on Dec. 2, Antetokounmpo scrubbed his social media accounts of almost every reference or photo from his time with the Bucks, sparking speculation about trade rumors.
Throughout the season, Antetokounmpo has repeatedly voiced his frustrations with the situation in Milwaukee – he most recently characterized the team's play as "selfish" – and has maintained that he wants to compete for championships.
Interestingly, prior to Milwaukee's 139-122 loss Tuesday, Jan. 27 against the 76ers , Bucks coach Doc Rivers told reporters that Philadelphia center Joel Embiid , the 2022-23 NBA Most Valuable Player, was "the most talented player I ever coached." It raised eyebrows considering Rivers has coached Antetokounmpo, a two-time MVP, for parts of three seasons.
Former Buck Jae Crowder weighs in
Forward Jae Crowder, who played for the Bucks for two seasons, took to social media Wednesday after news of Antetokounmpo's future in Milwaukee broke. Crowder was part of the 2023-24 team that eventually fired former coach Adrian Griffin and replaced him with Doc Rivers.
Giannis Antetokounmpo age
Giannis Antetokounmpo has been in the NBA 13 seasons, and just turned 31 last month, on Dec. 6.
When is the NBA trade deadline?
The NBA trade deadline is approaching fast. Teams have just over a week as the deadline is set for Thursday, Feb. 5, at 3 p.m. ET.
Sources: Giannis preps for Bucks exit amid offers
Giannis Antetokounmpo is ready for a new home ahead of the trade deadline as several teams have made aggressive offers to the Bucks, league sources told ESPN.
This article originally appeared on USA TODAY: Giannis trade rumors heat up as Bucks starting to listen on offers

