By NBA Insiders | ESPN, 2025-06-18 19:00:00
由生成式人工智能翻译，译文内容可能不准确或不完整，以原文为准。
密尔沃基雄鹿队在过去七个赛季，从2018-19赛季的60胜算起，至少在某种程度上一直是NBA总冠军的有力争夺者。在现代联盟中，考虑到累犯奢侈税（repeater taxes）和奢侈税线（aprons）的限制，这种长期的争冠窗口可谓难得。
但最重要的是，雄鹿队在2021年赢得了总冠军，这证明了一切也肯定了所有人。话虽如此，他们也确实失去了动力。他们已连续三年在季后赛首轮出局，并且自夺冠以来从未突破过第二轮。他们已经交易了未来六年的首轮选秀权或其互换权，以及未来六年的次轮选秀权，这极大地阻碍了他们补充阵容的能力。
过去四年，他们已在薪资和奢侈税上支付了约9.4亿美元，却只赢得了一轮季后赛系列赛。今年四月，达米安·利拉德 (Damian Lillard) 左跟腱的毁灭性撕裂让他们的前景蒙上了阴影。雄鹿队下赛季将支付他5400万美元的薪水，但尚不确定他能贡献多少。
这三段内容包含了大量信息。它们并没有呼吁维持现状。雄鹿队的特许经营球员扬尼斯·安特托昆博 (Giannis Antetokounmpo) 完全了解当前局势，但尚未采取任何行动。
雄鹿队感觉他们来到了一个十字路口：是选择在重重挑战下继续围绕安特托昆博建队，还是寻找一条新的出路。以下是对这两种路径的探讨。
– 布莱恩·文霍斯特 (Brian Windhorst)
跳转至章节：
密尔沃基今夏的选择
三笔围绕扬尼斯建队的交易
扬尼斯去向：休斯顿 | 多伦多 | 圣安东尼奥 | 底特律 | 金州
雄鹿队今夏能做些什么？
大约八年前，时任克利夫兰骑士队总经理的大卫·格里芬 (David Griffin) 对勒布朗·詹姆斯 (LeBron James) 发表了一番言论，这番话对雄鹿队和安特托昆博而言仍具共鸣。
“你基本上肩负着贝比·鲁斯 (Babe Ruth) 的传奇，而我们的责任就是让这份传奇得以传承和发展，”格里芬 (Griffin) 告诉The Vertical。“所以，这几乎像是这个孩子赋予你的神圣信任。他自身就足够优秀，单凭他的存在，你就能成为总冠军争夺者……如果你不利用他所剩的岁月，那我们就有愧了。”
同样的哲学也适用于雄鹿队总经理乔恩·霍斯特 (Jon Horst) 的这个休赛期。
雄鹿队很容易将安特托昆博 (Antetokounmpo) 摆上交易市场，尤其是在利拉德 (Lillard) 跟腱受伤以及连续在首轮失利的情况下。然而，ESPN消息人士证实，密尔沃基将积极探索自由球员市场和交易选项，以 补强 安特托昆博 (Antetokounmpo) 身边的阵容。
由于在二月份交易截止日前进行了克里斯·米德尔顿 (Khris Middleton) 和凯尔·库兹马 (Kyle Kuzma) 的互换交易，雄鹿队可以使用1410万美元的非奢侈税中产特例来签下自由球员小加里·特伦特 (Gary Trent Jr.) 或临时替代利拉德 (Lillard) 的后卫。他们还可以使用510万美元的双年特例。密尔沃基不太可能同时留住自由球员布鲁克·洛佩兹 (Brook Lopez)、鲍比·波蒂斯 (Bobby Portis) 并使用这两个特例。
库兹马 (Kuzma) 的交易也让雄鹿队获得了灵活性，可以使用超过100%的交易球员特例（即吃下更多薪水）并在交易中打包合同。
完成一笔能影响阵容的交易存在一个问题，因为雄鹿队79%的薪资都支付给了安特托昆博 (Antetokounmpo)、利拉德 (Lillard) 和库兹马 (Kuzma)。唯一一份可观的合同是帕特·康诺顿 (Pat Connaughton) 940万美元的到期合同。根据劳资协议（CBA）中的一项规定，密尔沃基不允许将AJ·格林 (AJ Green)、克里斯·利文斯顿 (Chris Livingston)、小安德烈·杰克逊 (Andre Jackson Jr.) 和泰勒·史密斯 (Tyler Smith) 的合同与康诺顿 (Connaughton) 绑定，并换回一名年薪2500万美元的球员。为了规避这项规定，密尔沃基可以在先签后换中加入洛佩兹 (Lopez) 或波蒂斯 (Portis)（如果他放弃球员选项）。
– 鲍比·马克斯 (Bobby Marks)
三笔围绕扬尼斯建队的交易
密尔沃基雄鹿队得到：
小温德尔·卡特 (Wendell Carter Jr.)
阿约·多森姆 (Ayo Dosunmu)
杰特·霍华德 (Jett Howard)
奥兰多魔术队得到：
帕特·康诺顿 (Pat Connaughton)
贾伦·史密斯 (Jalen Smith)
杰文·卡特 (Jevon Carter)
2031年首轮签
2032年首轮签互换权（与密尔沃基互换）
芝加哥公牛队得到：
凯尔·库兹马 (Kyle Kuzma)
小安德烈·杰克逊 (Andre Jackson Jr.)
2031年次轮签
联盟中，雄鹿队比任何其他球队都应该做好准备，如果有些球队开始削减薪资并放弃有天赋的球员，雄鹿队就应该介入。如果雄鹿队不留下洛佩兹 (Lopez)，一个完美的适配人选将是波士顿的克里斯塔普斯·波尔津吉斯 (Kristaps Porzingis)。虽然很难想象两队能达成协议，但别忘了朱·霍勒迪 (Jrue Holiday) 在密尔沃基最初将他交易到波特兰开拓者队后，最终还是来到了波士顿。
关于上述提议的交易，这显然会是一场巨大的赌博，以摆脱库兹马 (Kuzma) 的合同，因为它基本上会掏空密尔沃基的选秀资源。但它也立即回答了雄鹿队的一些问题，比如在利拉德 (Lillard) 康复期间谁来填补他的位置，以及谁来取代老迈的自由球员洛佩兹 (Lopez) 担任中锋。通过这些运作，密尔沃基的防守将得到提升——或许是显著提升——让球队更年轻，并拥有更大的上限。
芝加哥队很可能在今年夏天给控球后卫约什·吉迪 (Josh Giddey) 开出一份大合同，因此在多森姆 (Dosunmu) 的合同即将到期时，通过交易他获得回报可能对他们来说是件好事。而奥兰多队则与卡特 (Carter) 分道扬镳（将大权交给戈加·比塔泽 (Goga Bitadze)），但在本周早些时候为从孟菲斯队得到戴斯蒙德·贝恩 (Desmond Bane) 付出了四枚首轮签和一个互换权的昂贵代价后，现在他们也得到了一些选秀资产。
– 克里斯·赫林 (Chris Herring)
密尔沃基雄鹿队得到：
卡梅伦·约翰逊 (Cameron Johnson)
布鲁克林篮网队得到：
凯尔·库兹马 (Kyle Kuzma)
2031年首轮签
2032年首轮签互换权
鉴于雄鹿队极其有限的资源，在“即时争冠”的心态下，他们能想象到的最好的现有球员来支援扬尼斯 (Giannis) 是谁？约翰逊 (Johnson) 从未入选全明星，但他在布鲁克林取得了巨大进步。他一直是一位出色的射手（生涯三分命中率39%），现在已经成为一名出色的多层次得分手，可以尝试填补密尔沃基外线米德尔顿 (Middleton) 留下的空缺。
篮网队会做这笔交易吗？对于交易约翰逊 (Johnson)——一个在联盟中很有吸引力的交易目标——并接手库兹马 (Kuzma) 的合同来说，回报相当轻微。但雄鹿队2031年和2032年无保护的选秀权可能极具诱惑力，以至于布鲁克林会同意。届时安特托昆博 (Antetokounmpo) 将接近37岁，并且可能已经完全离开了密尔沃基。篮网队也可能会重视持有密尔沃基的部分选秀资产，以备未来他们尝试交易安特托昆博 (Antetokounmpo) 时，能够将这些选秀权作为筹码返还给雄鹿队。
– 扎克·克拉姆 (Zach Kram)
密尔沃基雄鹿队得到：
布拉德利·比尔 (Bradley Beal)
罗伊斯·奥尼尔 (Royce O’Neale)
2025年首轮签（第29顺位）
菲尼克斯太阳队得到：
帕特·康诺顿 (Pat Connaughton)
达米安·利拉德 (Damian Lillard)
从纸面上看，比尔 (Beal) 和利拉德 (Lillard) 的互换交易具有逻辑性。雄鹿队在本赛季曾与比尔 (Beal) 传出过绯闻，当时这意味着要围绕现在已经离开的米德尔顿 (Middleton) 组建交易方案。而让利拉德 (Lillard) 在跟腱手术康复期间，其5400万美元的薪水没有任何产出，这可能也难以接受。
比尔 (Beal) 需要放弃他的交易否决权才能使交易达成，他可能会比在太阳队时更适应密尔沃基，获得更多持球机会，并为安特托昆博 (Antetokounmpo) 拉开空间，这是利拉德 (Lillard) 不太适应做的事情。雄鹿队在这笔交易的次要方面也获益，通过奥尼尔 (O’Neale) 增加了侧翼深度，这次互换对于避免太阳队触及较低奢侈税线的硬工资帽是必要的，并且他们还得到了一个靠后的首轮签，可以用来升级阵容的其他部分。
如果太阳队准备放弃比尔 (Beal)，等待利拉德 (Lillard) 的回归可能看起来也没那么糟糕。如果他能够在35岁时恢复接近全明星的状态，那么利拉德 (Lillard) 将与德文·布克 (Devin Booker) 更适配菲尼克斯的后场。然而，双方不太可能就利拉德 (Lillard) 受伤时比比尔 (Beal) 更有价值多少达成一致。
– 凯文·佩尔顿 (Kevin Pelton)
扬尼斯加盟的五笔交易
休斯顿火箭队得到：
扬尼斯·安特托昆博 (Giannis Antetokounmpo)
帕特·康诺顿 (Pat Connaughton)
密尔沃基雄鹿队得到：
阿尔佩伦·申京 (Alperen Sengun)
卡姆·惠特莫尔 (Cam Whitmore)
里德·谢泼德 (Reed Sheppard)
乔克·兰代尔 (Jock Landale)
2025年首轮签（第10顺位）
2027年首轮签（来自菲尼克斯）
2028年首轮签
在季后赛开始时拥有主场优势的球队中，西部第二的休斯顿队比任何其他俱乐部都更迫切需要增加进攻。在他们联盟倒数前五的三分球出手率以及贾伦·格林 (Jalen Green) 得分不稳定（他在对阵勇士的第二场比赛中砍下38分，但在首轮系列赛的其他六场比赛中得分均未超过12分）之间，火箭队需要创造更轻松的得分机会。
是的，申京 (Sengun) 是一位可以成为出色进攻枢纽的全明星球员，并且随着他的不断进步，他有更高的上限。但是安特托昆博 (Antetokounmpo)，这位正值巅峰的两届常规赛MVP，其精英级别足以成为任何球队进攻端的第一选择。
这可能正处于一个恰到好处的位置，这取决于你的球迷立场。如果你是火箭队的球迷，你可能会讨厌与申京 (Sengun) 分道扬镳的想法。但是如果扬尼斯 (Giannis) 加入球队，对以大个子作为进攻枢纽的需求——即使是拥有申京 (Sengun) 那样出色组织能力的球员——也会大大降低。
除此之外，如果要在申京 (Sengun) 和攻防俱佳的阿门·汤普森 (Amen Thompson) 之间选择一名年轻球星，申京 (Sengun) 可能是首选，仅仅是因为他们的合同。申京 (Sengun) 的续约合同将于下赛季开始生效，他在2025-26赛季将获得近3400万美元的薪水，而汤普森 (Thompson) 将获得略低于1000万美元。
这将在未来几年内，围绕扬尼斯 (Giannis) 重塑火箭队阵容（包括汤普森 (Thompson)、弗雷德·范弗利特 (Fred VanVleet)、格林 (Green)、狄龙·布鲁克斯 (Dillon Brooks)、小贾巴里·史密斯 (Jabari Smith Jr.)、塔里·伊森 (Tari Eason) 等人）提供更大的灵活性。
– 赫林 (Herring)
多伦多猛龙队得到：
扬尼斯·安特托昆博 (Giannis Antetokounmpo)
密尔沃基雄鹿队得到：
斯科蒂·巴恩斯 (Scottie Barnes)
格雷迪·迪克 (Gradey Dick)
奥柴·阿巴吉 (Ochai Agbaji)
2025年首轮签（第9顺位）
2029年首轮签
2031年首轮签
安特托昆博 (Antetokounmpo) 和猛龙队总裁马赛·乌杰里 (Masai Ujiri) 渊源已久，乌杰里 (Ujiri) 从来不惧为球星放手一搏。多伦多队最近的举动，包括交易并续约布兰登·英格拉姆 (Brandon Ingram)，表明乌杰里 (Ujiri) 希望尽快重返争冠行列——而在竞争并不激烈的东部联盟中，得到扬尼斯 (Giannis) 可能会让这成为现实。
鉴于其年轻和上限，多伦多的巴恩斯 (Barnes) 可能是雄鹿队在交易中能得到的、最具吸引力的现有球员。这一点很重要，因为雄鹿队欠其他球队太多的未来选秀权，这使得他们没有摆烂的动机。
2023年，太阳队将米卡尔·布里奇斯 (Mikal Bridges)、卡梅伦·约翰逊 (Cameron Johnson)、杰·克劳德 (Jae Crowder)、四个首轮签和一个互换权交易给布鲁克林，以换取凯文·杜兰特 (Kevin Durant)。这就是我们构建这笔交易的模型：一名冉冉升起的新星（巴恩斯）、一名有潜力的年轻射手（迪克）、一名第三侧翼，以及一套类似的——但不如杜兰特交易那么丰厚，因为巴恩斯 (Barnes) 比布里奇斯 (Bridges) 成就更高——选秀权组合。
通过这笔交易，猛龙队将通过让安特托昆博 (Antetokounmpo) 顶替巴恩斯 (Barnes) 在轮换中的位置来提升实力，而雄鹿队则可以开始围绕巴恩斯 (Barnes)、迪克 (Dick) 和今年选秀大会的第9顺位签来构建年轻核心。流向密尔沃基的其他选秀权将集中在最长七年交易窗口期的末端，这样密尔沃基就不必依赖扬尼斯 (Giannis) 巅峰期球队的选秀权，那些选秀权更有可能出现在首轮末尾。
– 克拉姆 (Kram)
圣安东尼奥马刺队得到：
扬尼斯·安特托昆博 (Giannis Antetokounmpo)
密尔沃基雄鹿队得到：
哈里森·巴恩斯 (Harrison Barnes)
凯尔登·约翰逊 (Keldon Johnson)
索汉 (Sochan)
2025年首轮签（第2顺位）
2026年首轮签（亚特兰大和圣安东尼奥中较好者）
2028年首轮签（波士顿和圣安东尼奥中较好者）
2030年首轮签（达拉斯、明尼苏达和圣安东尼奥中较好者）
2031年首轮签互换权（密尔沃基的与萨克拉门托和圣安东尼奥中较好者互换）
在因深静脉血栓错过上赛季最后三分之一的比赛之前，文班亚马 (Victor Wembanyama) 在21岁时已经确立了自己作为前十球员的地位。将他与一名正值巅峰的最佳阵容一阵球员搭档，将使圣安东尼奥拥有一套足以立即争冠的核心阵容，而且文班亚马 (Wembanyama)——他更喜欢在外线打球——与安特托昆博 (Antetokounmpo) 的力量型打法之间的适配度堪称理想。
我将此视为NBA版本的NFL球队，围绕处于新秀合同期的明星四分卫组建阵容，利用其低廉的薪水来增加顶级天赋。
即使在交易得到达龙·福克斯 (De’Aaron Fox) 之后，马刺队通过乐透抽签上升到第2顺位以及未来的互换权，仍然有能力围绕选秀权构建一份安特托昆博 (Antetokounmpo) 的报价。雄鹿队将能够押注各种球队的垫底，而不是依赖圣安东尼奥队可能出现在首轮末端的选秀权。
特别是2030年的首轮签看起来特别有价值，因为它来自三支球队中较好者——尽管与森林狼队的互换有前一顺位保护。密尔沃基还得到了索汉 (Sochan) 这位近期乐透秀，以及可以保持球队竞争力的球员。
– 佩尔顿 (Pelton)
底特律活塞队得到：
扬尼斯·安特托昆博 (Giannis Antetokounmpo)
密尔沃基雄鹿队得到：
托拜厄斯·哈里斯 (Tobias Harris)
杰登·艾维 (Jaden Ivey)
以赛亚·斯图尔特 (Isaiah Stewart)
2027年首轮签
2029年首轮签
2031年首轮签
随着骑士队和凯尔特人队面临限制性第二奢侈税线，可能需要削减薪资（而且波士顿队没有正在康复的杰森·塔图姆 (Jayson Tatum)），以及尼克斯队自身也在经历变革，东部的争冠格局已经很久没有如此开放了。活塞队在六年里首次进入季后赛，在竞争激烈的第一轮中与纽约队看起来势均力敌。加入安特托昆博 (Antetokounmpo) 这样的球员将加速球队发展进程，并让全NBA阵容后卫凯德·坎宁安 (Cade Cunningham) 和活塞队更快地在东部拥有真正的竞争力。
密尔沃基队可能会犹豫是否在同区内进行交易，并可能最终希望进行更大规模的运作。但是，仍然只有23岁的艾维 (Ivey)，在度过一个远比前两个赛季更高效的赛季后，已经展现出了真正、明显的闪光点。斯图尔特 (Stewart) 24岁，是一位强硬的篮板手，能够获得比他目前与年轻队友贾伦·杜伦 (Jalen Duren) 搭档时更多的上场时间。
而32岁的老将哈里斯 (Harris) 在活塞队的季后赛征程中表现稳定，尤其是在防守端。这将足以让雄鹿队保持竞争力，同时艾维 (Ivey) 也有机会在进入巅峰期时成为球星。
– 赫林 (Herring)
金州勇士队得到：
扬尼斯·安特托昆博 (Giannis Antetokounmpo)
洛杉矶湖人队得到：
德雷蒙德·格林 (Draymond Green)
丹尼尔·加福德 (Daniel Gafford)
达拉斯独行侠队得到：
加布·文森特 (Gabe Vincent)
2031年首轮签（来自洛杉矶湖人队）
2025年次轮签（第41顺位）
密尔沃基雄鹿队得到：
奥斯汀·里夫斯 (Austin Reaves)
布兰丁·波杰姆斯基 (Brandin Podziemski)
乔纳森·库明加 (Jonathan Kuminga)（通过先签后换）
特雷斯·杰克逊-戴维斯 (Trayce Jackson-Davis)
马克西·克莱伯 (Maxi Kleber)
2029年首轮签（来自勇士队）
2031年首轮签（来自金州勇士队）
2030年首轮签互换权（与洛杉矶湖人队互换）
勇士队几乎总是处于争夺球星的行列，在二月份交易得到小吉米·巴特勒 (Jimmy Butler III) 后，他们今年夏天可能会进行更大胆的尝试，以最大限度地利用斯蒂芬·库里 (Stephen Curry) 剩余的巅峰时期。如果安特托昆博 (Antetokounmpo) 要求交易到金州，勇士队可以直接转送巴特勒 (Butler)，他的薪水完美匹配。但勇士队也可以围绕格林 (Green) 和一众年轻球员组建匹配的筹码，所以让我们来一个真正疯狂的四方重磅提案。
勇士队将牺牲深度，以组建库里 (Curry)、安特托昆博 (Antetokounmpo) 和巴特勒 (Butler) 的明星三人组。湖人队将通过将里夫斯 (Reaves) 转换为格林 (Green)——他过去曾卷入湖人队的流言——和加福德 (Gafford) 来平衡他们的阵容，提升防守并增加一名被证明与卢卡·东契奇 (Luka Doncic) 适配的吃饼中锋。独行侠队将从优势位置（中锋）进行交易，以增加一个未来的首轮签和凯里·欧文 (Kyrie Irving) 缺席期间的控球后卫帮助。而雄鹿队将获得一系列有前途的年轻球员和未来的选秀权来换回他们的明星。
– 克拉姆 (Kram)
点击查看原文：NBA offseason 2025 - 8 Giannis, Bucks trades that shake up the league
NBA offseason 2025 - 8 Giannis, Bucks trades that shake up the league
The Milwaukee Bucks have been NBA title contenders, on at least some level, for the past seven seasons, dating to their 60-win season in 2018-19. This qualifies as an outsize window in the modern era, where repeater taxes and aprons have been installed to make this sort of run a real challenge.
But most importantly, the Bucks won a championship in 2021 and validated everything and everyone. Having said that, they have lost steam. They’ve exited in the first round of the playoffs in three consecutive years and haven’t made it past the second round since the title run. They have traded their first-round pick or its swap rights for the next six years and traded their second-round selection for the next six years, hampering their ability to restock the roster.
Over the past four years, they have paid about $940 million in salaries and luxury taxes and won one playoff series. In April, their chances were submarined by Damian Lillard’s devastating torn left Achilles. The Bucks will pay him $54 million next season uncertain how much he will be able to contribute.
There is a lot in those three paragraphs. They don’t cry out for maintaining the status quo. The Bucks’ franchise player, Giannis Antetokounmpo, is fully aware of the situation but has not taken any action.
The Bucks feel as if they have come to a crossroads: continue to build around Antetokounmpo despite their challenges or look for a new way forward. Here’s a look at both paths.
– Brian Windhorst
Jump to a section:
Milwaukee’s options this summer
Three trades to build around Giannis
Giannis to: HOU | TOR | SA | DET | GS
What can the Bucks do this summer?
Nearly eight years ago, then-Cleveland Cavaliers GM David Griffin made a statement regarding LeBron James that resonates with the Bucks and Antetokounmpo.
“You’re basically charged with the legacy of Babe Ruth, and it’s our responsibility to allow that legacy to grow and evolve,” Griffin told The Vertical. “So it’s almost like a sacred trust that the kid gives you. He’s so good, in his own right, by himself, that he sort of mandates you have to be a title contender just by his presence alone … and if you don’t capitalize on the years he has left, then shame on us.”
The same philosophy applies to Bucks GM Jon Horst this offseason.
It would be easy for the Bucks to put Antetokounmpo on the trade market, especially in light of Lillard’s Achilles injury and consecutive losses in the first round. However, sources confirmed to ESPN that Milwaukee will be aggressively exploring options in free agency and trades to complement Antetokounmpo.
Due to the Khris Middleton-Kyle Kuzma swap before the February trade deadline, the Bucks can use the $14.1 million non-tax midlevel exception to sign free agent Gary Trent Jr. or a temporary guard replacement for Lillard. They also have the $5.1 million biannual exception available. It is unlikely that Milwaukee can retain free agent Brook Lopez, Bobby Portis and also use both exceptions.
The Kuzma deal has also given the Bucks flexibility to use more than 100% of the traded player exception (taking back more salary) and aggregate contracts in a trade.
Pulling off a trade that impacts the roster presents a problem because 79% of the Bucks’ payroll is owed to Antetokounmpo, Lillard and Kuzma. The lone sizable contract is Pat Connaughton’s $9.4 million expiring salary. Because of a rule in the CBA, Milwaukee is not allowed to attach the contracts of AJ Green, Chris Livingston, Andre Jackson Jr. and Tyler Smith to Connaughton and bring back a player earning $25 million. To offset that rule, Milwaukee could add Lopez or Portis (if his player option is declined) in a sign-and-trade.
– Bobby Marks
Three trades to build around Giannis
Milwaukee Bucks get:
Wendell Carter Jr.
Ayo Dosunmu
Jett Howard
Orlando Magic get:
Pat Connaughton
Jalen Smith
Jevon Carter
2031 first-round pick
2032 first-round pick swap (with Milwaukee)
Chicago Bulls get:
Kyle Kuzma
Andre Jackson Jr.
2031 second-round pick
More than any team in the league, the Bucks should be ready to get involved if some of these clubs begin trimming salary and parting ways with talented players. One that would be a perfect fit, particularly if the Bucks don’t bring back Lopez: Kristaps Porzingis from Boston. It’s difficult to imagine the teams working out a deal, but keep in mind that Jrue Holiday found his way to Boston after Milwaukee dealt him to the Portland Trail Blazers initially.
With regards to the proposed deal above, this would obviously be quite a gamble to get out from under the Kuzma deal, given that it would essentially empty Milwaukee’s draft cupboard. But it also answers some immediate questions for the Bucks in terms of who holds down Lillard’s spot while he rehabs and who replaces the aging, free agent Lopez in the middle. Milwaukee’s defense improves – perhaps considerably – with these moves, making the club younger and giving it more upside.
Chicago, likely to hand ball handler Josh Giddey a big deal this summer, might be fine getting a return for Dosunmu as his deal gets closer to winding down. And Orlando parts ways with Carter (handing the reins to Goga Bitadze) but gets back some draft capital after paying handsomely, to the tune of four first-rounders and a swap, to acquire Desmond Bane from Memphis earlier this week.
– Chris Herring
Milwaukee Bucks get:
Cameron Johnson
Brooklyn Nets get:
Kyle Kuzma
2031 first-round pick
2032 first-round pick swap
Given the Bucks’ extremely limited resources, who is the best current player they could conceivably add to support Giannis in a win-now posture? Johnson has never been an All-Star, but he has made immense strides in Brooklyn. Always a tremendous shooter (39% career on 3-pointers), he has become an accomplished multilevel scorer who could try to fill the Middleton-shaped hole on Milwaukee’s perimeter.
Would the Nets do this deal? It’s a fairly light return for trading Johnson – an attractive trade target around the league – while taking back Kuzma’s contract. But the Bucks’ unprotected 2031 and 2032 picks might be so enticing that Brooklyn would go for it. Antetokounmpo would be pushing 37 years old at that point and perhaps gone from Milwaukee entirely. The Nets could also value holding some of Milwaukee’s draft capital for a future scenario in which they try to trade for Antetokounmpo and would be able to offer the Bucks their picks back.
– Zach Kram
Milwaukee Bucks gets:
Bradley Beal
Royce O’Neale
2025 first-round pick (No. 29)
Phoenix Suns get:
Pat Connaughton
Damian Lillard
On paper, there is logic to a swap of Beal for Lillard. The Bucks were linked to Beal during the season, when it would have meant building a package around the now-departed Middleton, and getting nothing out of Lillard’s $54 million salary while he recovers from Achilles surgery might not be tenable.
Beal, who would need to waive his no-trade clause to make the deal work, could fit better in Milwaukee than he has with the Suns, getting more opportunities to handle the ball and spacing the floor for Antetokounmpo in a way Lillard wasn’t as comfortable doing. The Bucks also win the undercard here, adding wing depth with O’Neale in a swap that’s necessary to avoid hard-capping Phoenix at the lower luxury tax apron and getting a late first-rounder to use upgrading the rest of the roster.
If the Suns are ready to move on from Beal, waiting for Lillard’s return might not seem so bad. And if he is able to return at something close to his All-Star form at age 35, Lillard would be a better fit alongside Devin Booker in the Phoenix backcourt. However, it’s unlikely the two sides will agree on how much more valuable Lillard is while injured than Beal.
– Kevin Pelton
Five trades for Giannis
Houston Rockets get:
Giannis Antetokounmpo
Pat Connaughton
Milwaukee Bucks get:
Alperen Sengun
Cam Whitmore
Reed Sheppard
Jock Landale
2025 first-round pick (No. 10)
2027 first-round pick (via Phoenix)
2028 first-round pick
More than any other club that held home-court advantage to begin the playoffs, No. 2-seeded Houston desperately needs more offense. Between their bottom-five 3-point attempt rate and Jalen Green’s inconsistency as a scorer – he exploded for 38 points in Game 2 against the Warriors but scored 12 points or fewer in the other six contests during that first-round matchup – the Rockets need to manufacture easier scores.
Yes, Sengun is an All-Star who can be the hub of a decent offense, and he has a higher ceiling as he continues to improve. But Antetokounmpo, a two-time league MVP in his prime, is elite enough to be the No. 1 option for any club’s offensive attack.
This might fall right within a sweet spot, depending on where your fandom lies. If you’re a Rockets fan, you likely hate the thought of parting with Sengun. But the need for a big as the offensive hub – even one with the playmaking chops of Sengun – lessens considerably if Giannis joins the roster.
Beyond that, if you had to choose one young star to include between Sengun and two-way standout Amen Thompson, Sengun might be the preferred choice, if only because of their contracts. With his extension beginning this coming season, Sengun is due to earn almost $34 million in 2025-26, while Thompson will get a little less than $10 million.
That would give the Rockets more flexibility in remaking the roster (one with Thompson, Fred VanVleet, Green, Dillon Brooks, Jabari Smith Jr., Tari Eason and others) around Giannis over the next couple years.
– Herring
Toronto Raptors get:
Giannis Antetokounmpo
Milwaukee Bucks get:
Scottie Barnes
Gradey Dick
Ochai Agbaji
2025 first-round pick (No. 9)
2029 first-round pick
2031 first-round pick
Antetokounmpo and Raptors president Masai Ujiri go way back, and Ujiri has never been shy about taking big swings for stars. Toronto’s recent moves, including trading for and extending Brandon Ingram, suggest Ujiri wants to leap back into contention sooner rather than later – and in a depleted Eastern Conference field, adding Giannis could make that happen.
Given his youth and upside, Toronto’s Barnes could be the most attractive current player available to the Bucks in a trade. That’s important because the Bucks owe so many future picks to other teams that they have no incentive to tank.
In 2023, the Suns traded Mikal Bridges, Cam Johnson, Jae Crowder, four first-round picks and one swap to Brooklyn for Kevin Durant. That’s the model from which we’re building this trade: one rising star (Barnes), one young shooter with potential (Dick), a third wing and a similar – but lesser, because Barnes is more accomplished than Bridges – assortment of picks that sent Durant to Phoenix.
With this deal, the Raptors would improve by slotting Antetokounmpo into Barnes’ spot in their rotation, while the Bucks would be able to start building a young core of Barnes, Dick and the No. 9 pick in this year’s draft. The other picks headed to Milwaukee would be concentrated toward the end of the maximum seven-year trading window, so Milwaukee wouldn’t have to rely on picks from a team led by Giannis in his prime, which would be more likely to come at the end of the first round.
– Kram
San Antonio Spurs get:
Giannis Antetokounmpo
Milwaukee Bucks get:
Harrison Barnes
Keldon Johnson
Jeremy Sochan
2025 first-round pick (No. 2)
2026 first-round pick (better of Atlanta and San Antonio)
2028 first-round pick (better of Boston and San Antonio)
2030 first-round pick (better of Dallas, Minnesota and San Antonio)
2031 first-round swap (Milwaukee’s for better of Sacramento’s and San Antonio)
Before missing the final third of last season because of deep vein thrombosis, Victor Wembanyama had established himself as a top-10 player at age 21. Pairing him with an All-NBA first-team pick in his prime would give San Antonio a core good enough to contend now, and the fit between Wembanyama – who prefers to play on the perimeter – and Antetokounmpo’s power game is ideal.
I consider this as the NBA version of an NFL team loading up around a star quarterback on a rookie deal, taking advantage of his cheap salary to add premier talent.
Even after dealing for De’Aaron Fox, the Spurs are well-positioned to build an Antetokounmpo offer around picks based on the combination of moving up to No. 2 in the lottery and future swaps. Instead of relying on San Antonio picks likely to come at the end of the round, the Bucks would be able to bet on a variety of teams bottoming out.
In particular, the 2030 first-rounder looks especially valuable because it’s the best of three teams – albeit with top-one protection on the swap with the Timberwolves. Milwaukee also gets a recent lottery pick in Sochan and players who could keep the team competitive.
– Pelton
Detroit Pistons get:
Giannis Antetokounmpo
Milwaukee Bucks get:
Tobias Harris
Jaden Ivey
Isaiah Stewart
2027 first-round pick
2029 first-round pick
2031 first-round pick
With the Cavaliers and Celtics up against the restrictive second apron and likely needing to cut salary (and Boston without the rehabbing Jayson Tatum), and the Knicks undergoing changes of their own, the contending class of the East is as open as it’s been in a while. The Pistons, making their first playoff appearance in six years, looked evenly matched with New York in a highly competitive first round. Adding a player of Antetokounmpo’s ilk would speed up the timeline but also give All-NBA guard Cade Cunningham and the Pistons a real shot in the East sooner rather than later.
Milwaukee might hesitate in making a deal within its division and might ultimately want to swing bigger than this. But Ivey, still just 23 and coming off a season that was far more efficient than his first two, has shown real, palpable flashes. Stewart is 24, and is a rugged rebounder capable of bigger minutes than what he currently receives alongside fellow youngster Jalen Duren.
And the veteran Harris, still just 32, was solid for the Pistons – particularly on defense – throughout Detroit’s playoff run. It would be enough for the Bucks to remain competitive, with a chance for Ivey to achieve stardom as he enters his prime.
– Herring
Golden State Warriors get:
Giannis Antetokounmpo
Los Angeles Lakers get:
Draymond Green
Daniel Gafford
Dallas Mavericks get:
Gabe Vincent
2031 first-round pick (via L.A. Lakers)
2025 second-round pick (No. 41)
Milwaukee Bucks get:
Austin Reaves
Brandin Podziemski
Jonathan Kuminga (via sign-and-trade)
Trayce Jackson-Davis
Maxi Kleber
2029 first-round pick (via Warriors)
2031 first-round pick (via Golden State)
2030 first-round swap (with L.A. Lakers)
The Warriors are almost always in the mix for stars, and after trading for Jimmy Butler III in February, they could take an even bigger swing this summer to maximize the remainder of Stephen Curry’s extended prime. If Antetokounmpo requests a trade to Golden State, the Warriors could simply reroute Butler, whose salary is a perfect match. But the Warriors could also build a matching package around Green and a host of young players, so let’s get truly wild with a blockbuster four-team proposal.
The Warriors would sacrifice depth to construct a star-studded big three of Curry, Antetokounmpo and Butler. The Lakers would balance their roster by turning Reaves into Green – who has been involved in Lakers rumors in the past – and Gafford, improving their defense and adding a rim-running center who’s a proven fit with Luka Doncic. The Mavericks would trade from a position of strength (center) to add a future first and point guard help during Kyrie Irving’s absence. And the Bucks would grab an assortment of promising young players and future picks in return for their star.
– Kram
By NBA Insiders | ESPN, via ESPN