Giannis trade watch update for 2026 as NBA draft nears decision

Milwaukee Bucks could trade two-time MVP Giannis Antetokounmpo before the 2026 draft, with 10 teams monitoring the situation.

Bucks open to Giannis trade talks With the NBA draft lottery concluded and June’s draft approaching, the Giannis Antetokounmpo saga may soon reach a resolution. Milwaukee Bucks held onto the two-time MVP at the February trade deadline but are now open to trade inquiries this summer. Bucks co-owner Jimmy Haslam stated that the period before the draft is a natural time since acquiring assets would be necessary if Giannis were to leave. Bucks GM Jon Horst’s role includes assembling a championship-caliber roster while maintaining flexibility. Wes Edens, controlling owner until April 2028, emphasized in March that only two outcomes remain: Giannis receives an extension or he is traded. ## Giannis contract details and trade implications Antetokounmpo has two years remaining on his deal, with the second season a player option. On October 1, he becomes eligible for a four-year, $275 million contract. If he exercises his $62.8 million option for 2026-27, the deal converts to three years totaling $213.6 million. A trade this offseason would allow him to sign the same extension with a new team, but only after six months post-trade. Potential trade partners must weigh the risk of surrendering significant assets without a guaranteed extension commitment. Milwaukee realizes waiting until October for a decision is no longer viable, according to Edens. ## Milwaukee's roster constraints and trade tools Milwaukee has nine free agents this summer, including five with player options like Kevin Porter Jr., Gary Trent Jr., Gary Harris, Taurean Prince, and Jericho Sims. The Bucks exceeded the salary cap partly due to signing Myles Turner last offseason and owing Damian Lillard $20.2 million per season through 2029-30. Outside of Turner, Kyle Kuzma, or Bobby Portis, Milwaukee can use the $15.1 million non-tax midlevel, $5.5 million biannual, and veteran minimum exceptions to sign players. The team holds the 10th pick in June and can trade two additional first-round picks in 2031 and 2033 starting the night of the draft. ## 10 teams to watch for Giannis trade Ten franchises ranging from lottery teams to title contenders have the assets to facilitate a Giannis deal. Any team without cap space must send Milwaukee at least $46.6 million in salary while remaining below the first apron. Salaries reflect the 2026-27 season, and players with options cannot be traded until those options are exercised. The analysis covers each team’s draft assets, financial flexibility, and trade pathways. ## Golden State Warriors' championship pursuit Golden State missed the playoffs for the second time in three seasons and aims to improve significantly this offseason. The Warriors hold the 11th pick and can trade three additional first-round selections (2028, 2030 top-20 protected, 2032), along with pick swaps over the next seven years. GM Mike Dunleavy Jr. reiterated in February, 'We're willing to do whatever it takes to improve this team, whether it's young players, first-round picks.' Golden State faces challenges assembling matching salaries while maintaining roster flexibility. Draymond Green’s $27.7 million contract would be essential in any Giannis trade, as Curry, Butler, and Green comprise 79% of next season’s payroll. ## Miami Heat's urgency after play-in miss Miami’s failure to reach the playoffs for the first time since 2019 accelerates Giannis trade discussions. The Heat considered Milwaukee’s trade deadline offer involving Tyler Herro, Kel’el Ware, and multiple picks. Miami can trade the 13th pick, first-rounders in 2031 and 2033, and swap rights from 2029 to 2033. Team president Pat Riley stated after the season, 'We are just not good enough. We are not happy with it. This is the first time in those three years that we have an opportunity to do something with our roster.' ## Boston Celtics' rim-attack need Celtics president Brad Stevens emphasized adding players who can score in the paint as an offseason priority. Boston ranked 27th in paint scoring, while Antetokounmpo led the league in paint points per game. The Celtics cleaned up finances from last year and can take back more salary in a trade while aggregating contracts. Boston holds six first-round picks in the next seven years, three of which are tradeable (2027, 2031, 2033), and can trade the 27th pick in this year’s draft. Acquiring Giannis likely requires trading Jaylen Brown or Jayson Tatum, continuing Boston’s roster reshuffle from the 2025 offseason. ## Cleveland Cavaliers' creative path Cleveland enters the offseason $3.2 million above the second apron and cannot aggregate contracts or take back more salary in a trade. The Cavaliers can trade their 2031 or 2032 first-round pick along with the June selection. Cleveland’s route to Giannis involves renegotiating James Harden’s salary; a two-year, $64 million deal starting at $32 million would get them under the second apron. If Cleveland does not advance past the conference finals, all options, including a Giannis trade, must be considered. ## Houston Rockets' win-now flexibility Houston GM Rafael Stone stated, 'We'll look at everything over the offseason, and all potential deals. But we think the players in our locker room can win a lot of games and be very competitive.' The Rockets lack a first-round pick in this year’s draft but possess valuable assets starting in 2027, including swap rights with Brooklyn and an unprotected first from Phoenix. Houston projects $15 million below the tax and $24 million under the first apron. Blocksbuster trades remain possible despite trading for Kevin Durant last offseason. Including Alperen Sengun, Reed Sheppard, Jabari Smith Jr., and Fred VanVleet (if he opts in) could facilitate a Giannis deal. ## Los Angeles Lakers' cap space dilemma Los Angeles has nearly $50 million in cap space to absorb Giannis’ salary but lacks draft assets and young players on controllable contracts. The Lakers can trade the 25th pick in June, two additional firsts in 2031 and 2033, and swap firsts in five seasons. Dalton Knecht is the only Laker on a first-round rookie contract. A realistic path appears to involve waiting until 2027, requiring Antetokounmpo to play on an expiring contract and forcing Milwaukee to negotiate. Lakers GM would face challenges integrating Giannis alongside Luka Doncic for the foreseeable future. ## Minnesota Timberwolves' trade pursuit Minnesota pursued a Giannis trade before the February deadline and will likely do so again. The Timberwolves have just two tradeable first-round picks (June’s 29th selection and 2033) but possess win-now players like Jaden McDaniels, Rudy Gobert, Julius Randle, and Naz Reid. Donte DiVincenzo is on an expiring $12.6 million contract but is out indefinitely with a torn Achilles. Minnesota needs to send out at least $58.5 million in salary to maintain flexibility to re-sign Ayo Dosunmu while avoiding the second apron hard cap. ## New York Knicks' championship push New York reached the conference finals for a second straight season and could face a freeze on Giannis trade talks. The Knicks were the only team Antetokounmpo was willing to play for outside Milwaukee, as reported last October. Trading for Giannis while remaining below the second apron likely requires sending OG Anunoby, Mikal Bridges, and Josh Hart, or swapping Karl-Anthony Towns straight up. The Knicks hold their own first in June, a 2033 first, and swap rights in 2030, 2032, and 2033. ## Portland Trail Blazers' aggressive agenda Portland holds Milwaukee’s draft future through swap rights in 2028, 2029 (most and least favorable picks between their own, Boston’s, and Milwaukee’s), and 2030. They also possess an unprotected 2028 first from Orlando. New owner Tom Dundon stated, 'Our plan is to work hard, make good decisions. I'm probably more aggressive than most.' Portland can add young players like Shaedon Sharpe, Toumani Camara, Scoot Henderson, and Donovan Clingan to trade packages. Jerami Grant’s $34.2 million salary would need to be absorbed in any Giannis deal. ## Toronto Raptors' playoff return and risks Toronto won 16 more games than last season and returned to the playoffs for the first time since 2022. GM Bobby Webster noted, 'It doesn’t mean the next step or the next steps aren't going to be even harder.' The Raptors can trade five first-round picks, including the 19th in this year’s draft. Evaluating whether Scottie Barnes and rookie Collin Murray-Boyles are tradeable remains a key question. Toronto is $4 million below the luxury tax and $5.2 million under the first apron, monitoring finances closely.