Two-time MVP Giannis Antetokounmpo is ready to move on to a new field ahead of the Feb. 5 trade deadline, league sources told ESPN on Wednesday, as multiple teams have made aggressive offers to the Bucks and the Bucks are starting to listen.
Multiple teams feel the Bucks are more open to offers for Antetokounmpo between now and the deadline, according to league sources. However, Milwaukee has indicated to interested teams that the organization is in no rush to complete the move and is willing to steer Antetokounmpo’s future in the offseason if the possible price of a quality young player or extra draft pick is not met, sources said. By waiting until the summer, the Bucks could also see which team could offer them a more attractive draft pick in June.
The Miami Heat, Minnesota Timberwolves, New York Knicks and Golden State Warriors are serious suitors for Antetokounmpo, according to league sources.
Sources said Antetokounmpo had told the Bucks several months ago that after more than 12 years together, a trade was becoming more likely and he believed it was time to part ways. The Bucks, who are 18-27 and 12th in the Eastern Conference, are facing serious questions about their future direction, which has led to open and honest dialogue between both teams.
Milwaukee currently plans to acquire a lottery pick in the draft and owns a less favorable selection between its own team and the New Orleans Pelicans.
Antetokounmpo, 31, will be eligible to sign a four-year, $275 million supermax extension on Oct. 1. Without an extension, he could become an unrestricted free agent in the 2027 offseason by declining his $62.8 million player option in the summer.
Next season will essentially be the expiration year of his contract, which will increase his ability to play in his desired position. Teams willing to pay a high price in both player and draft capital to acquire him will want to know if he is committed long-term. If traded in the offseason, Antetokounmpo would have to wait six months from the time of signing before signing a supermax extension.
Asked on Jan. 19 if he was confident he would remain with the Bucks for the rest of the season, Antetokounmpo said, “I don’t know. I don’t know. I’m taking it day by day.” After last Wednesday’s loss to the Oklahoma City Thunder, Antetokounmpo gave a frank assessment of the team’s current state.
“We’re not playing hard,” Antetokounmpo said. “We’re not doing the right things. We’re not playing to win. We’re not playing together. Our chemistry isn’t good. The players are being selfish and trying to find their own shot instead of looking for the right shot for the team. The players are trying to do it on their own.”
General manager Jon Horst, coach Doc Rivers and the team’s owner waived Damian Lillard’s remaining $113 million to extend him and signed Myles Turner to a four-year, $108 million deal before selling Antetokounmpo in contention for a title this season. However, although Antetokounmpo expressed concerns about the offseason roster and sought his best outside fit, including a desire to be traded to the Knicks if the teams could come to an agreement, he recommitted to the Bucks, giving him a real chance in the 2025-26 season.
Antetokounmpo suffered a right calf muscle strain in Friday’s home game against the Denver Nuggets, the same injury that sidelined him for 24 days in December and will sideline him for the next few weeks. He played most of Friday’s game injured and admitted he would not have returned had the team been in a better position in the standings. In November, he sat for 11 days with groin strain. He has been quick to return to the lineup each time to help the Bucks get their season back. Milwaukee is 3-12 in games missed during the 2025-26 season.
At the time of the injury, Antetokounmpo was expected to miss four to six weeks. On Monday, Rivers did not speculate on when Antetokounmpo would return from his latest injury.
Antetokounmpo, a 10-time All-Star who led Milwaukee to its first championship in 50 years and ranks No. 1 in every major statistical category in team history, has consistently made it clear to the Bucks in private conversations that he loves the city and the franchise. Antetokounmpo and his agent, Alex Salatzis, have spent the past nine months talking with Horst about whether he would be best suited to move forward, in Milwaukee or elsewhere.
ESPN reported on Dec. 3 that Antetokounmpo and Salatzis have begun talks about his future with the Bucks, with a resolution expected in the coming weeks. Since then, expectations have grown in the Bucks’ locker room and among team officials that, as multiple sources have said, “the writing is on the wall with Giannis.”
Officials say the uncertainty surrounding Antetokounmpo has created tension in the locker room, leading to an uneasy environment. It has also penetrated the fan base. When the Bucks led by 31 points at halftime against the Timberwolves on Jan. 13, Antetokounmpo took it personally when fans booed the home team going into the first half at Fiserv Forum in Milwaukee. After making a layup in the third quarter, Antetokounmpo was immediately booed by the home fans.
The Bucks are 15-15 with Antetokounmpo in the lineup, good enough to qualify for the play-in tournament. With Antetokounmpo off the court this season, the Bucks’ offensive rating of 106.0 ranks among the worst in the NBA (the Pacers rank last at 108.0). The Bucks are scoring a whopping 15 points per 100 possessions with him on and off the floor, which is among the best in the league.
This is the story of this season for Milwaukee, which built a team intended to enhance Antetokounmpo’s skills, but instead created a team that can’t function without him.
This season, Milwaukee ranks 23rd in offensive efficiency and 23rd in defensive efficiency, ranking among six teams (Brooklyn, New Orleans, Sacramento, Indiana, and Washington) in the bottom 10 in both categories.
Antetokounmpo averaged 28.0 points, 10.0 rebounds, and 5.6 assists in 29.2 minutes per game, leading the NBA in points per minute and the best field goal percentage (64.5 percent) ever for a player who scored 25 points per game.
He quickly returned from a severe knee hyperextension that caused him to miss the final two games of the Eastern Conference Finals and led the Bucks to the 2021 NBA title.
Antetokounmpo, the No. 15 pick in the 2013 draft, ranks first in Bucks history in points, rebounds, assists, blocks and games played, and second in steals. In addition to two MVP awards, he won Most Valuable Player Award in 2016-17 and Defensive Player of the Year in 2019-20.
From the 2018-19 season to the 2024-25 season, the Bucks had the league’s best record with 368 wins and 187 losses. Horst creatively restructured a year-long contending team around Antetokounmpo by acquiring Jrue Holiday in 2020, acquiring a number of role players for the 2021 championship, and acquiring a blockbuster player in Lillard in 2023. Both of these deals resulted in contract extensions from Antetokounmpo. However, the Bucks have lost in the first round of the playoffs for three straight seasons, depleting their asset pool and overall talent on the roster.
Milwaukee has tried to act as a buyer in the trade market, but has not moved forward with a deal due to uncertainty surrounding Antetokounmpo’s future and the team’s limited mobility to make a big move. Sources say forwards Bobby Portis and Kyle Kuzma are the main names the Bucks are discussing in trade talks, but a tradeable first-round pick (2031 or 2032) is off the table unless it goes to a deserving superstar. In June’s draft, the Bucks will receive a pick that night, plus the 2031 and 2033 picks in a trade.
ESPN’s Jamal Collier and Bobby Marks and ESPN Research contributed to this report.