By NBA insiders | ESPN, 2025-12-05 03:38:00
“字母哥观察哨”似乎又迎来了新的转折。
据消息人士周三向ESPN的沙姆斯·查拉尼亚 (Shams Charania)透露，雄鹿队超级巨星扬尼斯·阿德托昆博 (Giannis Antetokounmpo) 及其经纪人正在与球队就这位两届MVP的未来进行对话——无论是留在密尔沃基还是另寻他处。
雄鹿队表示，阿德托昆博在战胜东部领头羊底特律活塞队的比赛初期遭遇了右小腿拉伤，将因此缺席长达四周的时间。但无论他是否上场，关于这场“连续剧”下一步走向的猜测都将继续。
球员与球队之间的关系现状如何？总经理乔恩·霍斯特 (Jon Horst)——这位从不畏惧通过交易来围绕雄鹿队超级巨星建队的管理者——能否再次出手补强球队的辅助阵容？如果密尔沃基真的开启关于阿德托昆博的交易谈判，哪些下家才是最合理的选择？
我们的NBA内部专家将深入剖析交易市场，并为阿德托昆博寻找最佳的潜在归宿，其中包括五项可能重塑2026年NBA总冠军争夺战乃至更长远格局的交易方案。
快速跳转至章节：
字母哥的现状
雄鹿能否围绕字母哥建队？
字母哥去向：老鹰 | 尼克斯 | 火箭 | 马刺 | 勇士
阿德托昆博和雄鹿队目前的状况如何？
在周三对阵活塞队的比赛刚开始三分钟时，当阿德托昆博因小腿受伤痛苦倒地时，整个费哲论坛球馆（Fiserv Forum）都陷入了一片沉寂。尽管雄鹿队相信他们已经避免了最坏的情况——主教练道格·里弗斯 (Doc Rivers)表示球队已排除了跟腱受伤的可能性——但他们仍需等待核磁共振（MRI）的结果来确定这位球星将缺阵多久。
赛前，里弗斯教练坚决否认了球队和阿德托昆博已开始讨论未来去向的说法，并指出雄鹿队近期的低迷表现——周三的胜利仅仅是他们过去10场比赛中的第二场胜利——才是导致阿德托昆博未来充满疑问的原因。
围绕阿德托昆博的猜测之所以甚嚣尘上，还因为他最近清空了自己的社交媒体动态。不过，一位与他关系密切的消息人士告诉ESPN，他几周前就这样做了，并非是针对球队近期的挣扎表现。
密尔沃基方面一直相信，一个强势的赛季足以平息外界的猜测，但上个月当这位两届MVP因腹股沟伤病缺阵时，球队遭遇了0胜4负。
球队内部消息人士周三告诉ESPN，他们希望当阿德托昆博和小凯文·波特 (Kevin Porter Jr.)恢复健康后，雄鹿队能在未来几周内打出更好的表现。他们也看到了一些证明：在阿德托昆博缺阵的情况下，密尔沃基凭借波特得到的26分逆转取胜。
“我认为（阿德托昆博）会为我们感到骄傲，因为我们能够逆转并赢下比赛，”波特在赛后说道。
尽管如此，联盟其他球队仍将密切关注密尔沃基的动向。多支球队的消息人士告诉ESPN，他们近期将开会讨论为阿德托昆博准备一份潜在的交易方案，目标日期是12月15日——届时，联盟中在休赛期签约的球员将可以被交易。
需要记住的一点是，从2026年10月1日起，阿德托昆博有资格与密尔沃基或交易得到他的球队签下一份为期四年、价值2.75亿美元的续约合同。任何想通过交易得到阿德托昆博的球队，在放弃重要球员或选秀权之前，都需要确信他很有可能完成续约。如果未能续约，阿德托昆博很可能会在2027年休赛期成为一名自由球员。– 贾马尔·科利尔 (Jamal Collier)
雄鹿还能围绕阿德托昆博提升阵容吗？
在围绕阿德托昆博补强阵容这件事上，永远不要低估霍斯特。自2020年以来，密尔沃基已经完成了17笔交易，其中包括得到朱·霍勒迪 (Jrue Holiday)、达米安·利拉德 (Damian Lillard)和凯尔·库兹马 (Kyle Kuzma)的交易。在今年夏天选择有限的情况下，霍斯特采取了前所未有的举动，他裁掉并使用延伸条款支付了利拉德的合同，以便签下自由球员中锋迈尔斯·特纳 (Myles Turner)。随着雄鹿队在战绩榜上不断下滑，以及阿德托昆博在密尔沃基的未来充满疑问，霍斯特将被追问是否还有下一步行动来补强辅助阵容。
但这样的交易似乎不太可能出现。
虽然从12月15日起，除了瑞安·罗林斯 (Ryan Rollins)和AJ·格林 (AJ Green)之外，雄鹿队名单上的每位球员都有资格被交易——罗林斯要到1月15日才有资格，而格林则完全没有资格——但密尔沃基在可交易筹码方面已经将自己逼入了死角。
球队名单中有11名球员的年薪在220万到510万美元之间，这意味着雄鹿队剩下的6000万美元合同集中在特纳、库兹马和波蒂斯身上。这三名球员的合同都至少还有两年。更重要的是，雄鹿队直到2031年才拥有完全属于自己的首轮选秀权，这使得他们在该年或2032年的选秀中只有一个可交易的首轮签。为了给签约特纳腾出空间，密尔沃基将帕特·康诺顿 (Pat Connaughton)送至夏洛特黄蜂队，这笔交易也让雄鹿队耗尽了所有的次轮签。
球队的一个优势领域是什么？雄鹿队的总薪资低于两档奢侈税线（luxury tax aprons），这让他们有足够的空间在潜在交易中吃进薪水。不过，在未来五年（包括本赛季），他们每年都需向利拉德支付2020万美元。– 鲍比·马克斯 (Bobby Marks)
五项将撼动冠军争夺格局的字母哥交易方案
亚特兰大老鹰队得到：
扬尼斯·阿德托昆博
科尔·安东尼 (Cole Anthony)
雄鹿队得到：
特雷·杨 (Trae Young)
扎卡里·里萨谢 (Zaccharie Risacher)
2026年首轮签（来自鹈鹕和雄鹿中顺位更高者）
2027年首轮签（前四顺位保护，来自鹈鹕和雄鹿中顺位更低者）
2029年首轮签（2029至2031年为前四顺位保护，若未兑现则为2032年无保护）
2031年首轮签（若符合条件则为2031年前四顺位保护，否则为2032年无保护）
注：此交易在12月15日前无法完成
老鹰队拥有独特的能力，可以在后字母哥时代的重建中帮助密尔沃基重新拿回属于自己的选秀权。严格来说，亚特兰大控制的只是雄鹿队和新奥尔良鹈鹕队的选秀权份额，后者是在五年前的朱·霍勒迪交易中得到的这些签位。然而，他们在2026年得到的两个选秀权中顺位更高的那个，很可能落入前五顺位，甚至他们在2027年得到的顺位较低的那个选秀权也应该相当不错。
密尔沃基在交易谈判中肯定会要求得到威斯康星本地人杰伦·约翰逊 (Jalen Johnson)，但如果我是老鹰队，我会坚守底线。即便如此，他们也已经放弃了一位前状元秀，并且有很大机会在2026年再得到一个高顺位签，考虑到亚特兰大有潜力通过这笔交易成为东部冠军热门，这是一个值得冒的风险。但要送走一位冉冉升起的新星约翰逊——他那份五年1.5亿美元的续约合同现在看来相当划算——去换取阿德托昆博在一个非热门市场的两年保障合同，这个代价就太大了。
对于雄鹿队来说，将特雷·杨交易到第三方球队可能是最明智的选择。然而，在最坏的情况下，杨的合同最早可能在今年夏天就能为密尔沃基带来薪金空间的缓解。– 凯文·佩尔顿 (Kevin Pelton)
休斯顿火箭队得到：
扬尼斯·阿德托昆博
萨纳西斯·阿德托昆博 (Thanasis Antetokounmpo)
雄鹿队得到：
阿尔佩伦·申京 (Alperen Sengun)
弗雷德·范弗利特 (Fred VanVleet)
2027年首轮签（无保护，来自太阳）
凭借13胜5负的战绩、联盟第2的进攻和第3的防守，火箭队可能不想轻易打破现有阵容的化学反应。但如果他们能从申京升级到阿德托昆博，考虑到他们有机会在本赛季和下赛季击败俄克拉荷马城雷霆队并赢得总冠军，他们至少必须考虑一下。
尽管申京有很多优点，但他的效率仍然只是平均水平，而阿德托昆博是NBA历史上效率最高、使用率最高的得分手之一。他将完美融入休斯顿那套主打身体对抗和内线的进攻体系，同时还能提供与申京类似的前场组织能力。
对于密尔沃基来说，申京是他们在一笔交易中能实际得到的最佳球员：一位23岁的进攻型中锋，本赛季应该会第二次入选全明星。在密尔沃基与瑞安·罗林斯搭档，申京将成为雄鹿队下一个时代的基石球员，考虑到他们未来几年缺乏首轮签，这正是他们所需要的。如果交易中包含申京，休斯顿可能不会愿意提供太多选秀权，但来自菲尼克斯的一个未来无保护首轮签仍然很有吸引力，即使太阳队本赛季打得更好了。– 扎克·克拉姆 (Zach Kram)
纽约尼克斯队得到：
扬尼斯·阿德托昆博
杰里科·西姆斯 (Jericho Sims)
雄鹿队得到：
卡尔-安东尼·唐斯 (Karl-Anthony Towns)
帕科姆·达迪耶 (Pacome Dadiet)
泰勒·科勒克 (Tyler Kolek)
2026年首轮签（前八顺位保护，来自奇才；否则，转为2026和2027年的次轮签）
2028年首轮签互换权（雄鹿或开拓者中顺位更低者换尼克斯）
2030年首轮签互换权（雄鹿或开拓者中顺位更低者换尼克斯）
2032年首轮签互换权
注：此交易在12月15日前无法完成
首先要明确一点：尼克斯队在去年为得到米卡尔·布里奇斯 (Mikal Bridges)交易了五个首轮签后，如果雄鹿队与多支球队展开交易谈判，他们没有任何机会得到阿德托昆博。纽约只能寄希望于阿德托昆博将他们指定为心仪的目的地。尼克斯队已无法再交易任何自己的首轮签，只能提供互换权以及一个来自华盛顿奇才队的首轮签，该签位今年是前八顺位保护，若未兑现则将转为次轮签。
当然，纽约的报价会包含重要的天赋球员。这个方案用一年前入选NBA最佳阵容三队的唐斯作为薪资匹配筹码。其他备选方案可能会围绕OG·阿奴诺比 (OG Anunoby)和约什·哈特 (Josh Hart)来构建。如果密尔沃基出于某种原因，想在没有阿德托昆博的情况下组建一支最强的球队，尼克斯队可以帮助他们实现目标。
更现实的情况是，雄鹿队需要为唐斯找到一个下家，从而换取额外的选秀权。纽约的首轮签互换权对密尔沃基有一定价值，因为它们恰好落在雄鹿队自己的首轮签被交换给波特兰开拓者队的同一年份。因此，即使那些赛季尼克斯队的战绩排名更高，密尔沃基仍有机会向上移动选秀顺位。– 佩尔顿
圣安东尼奥马刺队得到：
扬尼斯·阿德托昆博
雄鹿队得到：
斯蒂芬·卡斯尔 (Stephon Castle)
哈里森·巴恩斯 (Harrison Barnes)
凯利·奥利尼克 (Kelly Olynyk)
乔丹·麦克劳克林 (Jordan McLaughlin)
2027年首轮签（来自老鹰）
2029年首轮签
2032年首轮签
将阿德托昆博与维克托·文班亚马 (Victor Wembanyama)搭档将是史上最引人入胜的篮球实验。为了加速圣安东尼奥的重建进程，代价将是昂贵的，需要付出一系列首轮签和卫冕年度最佳新秀卡斯尔。
尽管如此，将两位MVP候选人组建成前场搭档的潜力，可能让马刺队难以抗拒。自从选中 文班亚马 以来，他们已经用未来资产换来了一位全明星老将德阿隆·福克斯 (De’Aaron Fox)，而阿德托昆博的价值远超这位前国王队控卫。如果 文班 保持健康，一支拥有福克斯、阿德托昆博和 文班亚马 ——更不用说新秀后卫迪伦·哈珀 (Dylan Harper)、德文·瓦塞尔 (Devin Vassell)以及出色的替补球员卢克·科内特 (Luke Kornet)和凯尔登·约翰逊 (Keldon Johnson)——的球队，本赛季就能竞争总冠军。毕竟，在福克斯、卡斯尔、哈珀和 文班亚马 都缺席过比赛的情况下，马刺队仍取得了15胜6负的战绩。而字母哥- 文班 组合可能在未来几个赛季统治联盟。
如果雄鹿队不得不交易掉他们的两届MVP，卡斯尔将是一个绝佳的收获，他在上个月拉伤左髋屈肌之前，似乎正处于二年级的大爆发之中。这笔交易还将让他们补充贫瘠的选秀资产储备——尽管不是他们自己的选秀权。此外，密尔沃基还可以在交易截止日前尝试送走本赛季表现稳健的老将巴恩斯，以换取更多选秀权。– 克拉姆
金州勇士队得到：
扬尼斯·阿德托昆博
萨纳西斯·阿德托昆博
雄鹿队得到：
德雷蒙德·格林 (Draymond Green)
乔纳森·库明加 (Jonathan Kuminga)
巴迪·希尔德 (Buddy Hield)
2026年首轮签
2028年首轮签
2030年首轮签（1-20顺位保护）
2032年首轮签
这对两支球队来说都将是一场孤注一掷的交易。
密尔沃基可以给库明加足够的发展空间，看他是否值得长期培养，并将格林——一位久经考验的赢家和依然顶级的防守者——转送至一支争冠球队，同时从金州勇士队榨取最大化的选秀权回报，并寄希望于其中一些远期选秀权能在斯蒂芬·库里 (Stephen Curry)退役后变得极具价值。
对于勇士队来说，一笔重磅交易将是他们试图摆脱本赛季以来一直困扰他们的低迷状态的尝试。引进阿德托昆博将是上赛季交易得到吉米·巴特勒三世 (Jimmy Butler III)的超级加强版，并打造出一个冠军级别的核心阵容，甚至可能在这个明星三人组身后拥有足够的深度，足以威慑雷霆队和西部的顶尖强队。
除了一个欠给奇才队的2030年部分受保护的选秀权外，勇士队仍然拥有他们未来所有的首轮签。他们需要决定是保留这些选秀权为后库里时代做准备，还是孤注一掷，为库里最后一次撬开总冠军窗口。– 克拉姆
对密尔沃基来说最好的交易是……
密尔沃基的思路应该是如何获得双重回报：既能得到拥有可控合同、能立即提供帮助的球员，又能得到首轮签来重建选秀资产。
雄鹿队没有任何理由进入全面重建。因此，亚特兰大所能提供的——杨、里萨谢和四个首轮签——将是难以拒绝的方案。
老鹰队的方案具有巨大吸引力，因为鹈鹕队在六月份的那个首轮签很可能最终成为状元签。再加上他们自己的选秀权，雄鹿队很可能在乐透区拥有两个首轮签。此外，雄鹿队还将在未来几年获得额外的三个首轮签。
里萨谢将为密尔沃基带来他们所缺乏的高大运动型侧翼，并且他在2027年休赛期之前都没有资格续约。唯一的顾虑在于杨下一份合同的成本。他有资格签下一份最高为期四年、价值2.29亿美元的续约合同，如果他拒绝执行球员选项，他可以在明年七月成为自由球员。
- 尽管尼克斯队的报价中包含了唐斯，但由于缺乏首轮签——除了奇才队那个2026年的前八顺位保护签——他们的提议应该不予考虑。
- 与此同时，勇士队的交易方案在首轮签的价值上可能是最高的。即使拥有了阿德托昆博，勇士的阵容仍将继续老化，这使得2028年和2030年的首轮签在潜在的后库里时代可能成为乐透签。
- 马刺队涉及卡斯尔的交易方案为雄鹿队提供了一位可以围绕建队的球员，他的新秀合同还有三年。尽管巴恩斯是首发球员，并且打出了他职业生涯中投射表现最好的赛季之一，但他和凯利·奥利尼克都只是薪资匹配筹码。虽然方案中包含了三个无保护首轮签，但雄鹿队会担心，在阿德托昆博、文班亚马、福克斯和哈珀坐镇圣安东尼奥冲击总冠军的情况下，马刺队2029年和2032年的首轮签究竟还有多少价值。
- 休斯顿的方案中，申京是所有交易方案里包含的最佳球员，而且他还拥有一份为期四年的非顶薪合同。但是，他和迈尔斯·特纳能在一起打球吗？还是说先完成交易，以后再担心这个问题？（雄鹿队将把每年6000万美元的薪资投入到两位中锋身上。）范弗利特下赛季拥有球员选项，如果他选择执行，将为密尔沃基提供一名首发级别的控球后卫。来自菲尼克斯的2027年首轮签因其无保护而具有价值，但如果太阳队本赛季的开局表现预示了他们的发展轨迹，这个签位很可能落在乐透区之外。
– 马克斯
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。
点击查看原文：Giannis trade guide: Five Bucks deals to alter the NBA title race
Giannis trade guide: Five Bucks deals to alter the NBA title race
It seems Giannis Watch has taken another turn.
Sources told ESPN’s Shams Charania on Wednesday that Bucks superstar Giannis Antetokounmpo and his agent are having conversations with the franchise about the two-time MVP’s future – with Milwaukee or elsewhere.
Antetokounmpo, who the Bucks said suffered a right calf strain early in their win over the Eastern Conference-leading Detroit Pistons, will miss up to four weeks. But whether he is on the court or not, speculation about this saga’s next step will continue.
Where do things stand between player and franchise? Can general manager Jon Horst, who has never shied away from making deals to build around the Bucks superstar, swing another to bolster the supporting cast? And which landing spots make the most sense should Milwaukee open trade talks for Giannis?
Our NBA insiders examine the trade market and best potential fits for Antetokounmpo, including five deals that could reshape the 2026 NBA title race and beyond.
Jump to a section:
Where the Giannis saga stands
Can Bucks build around Giannis?
Giannis to: ATL | NY | HOU | SA | GS
Where do Giannis and the Bucks stand right now?
A hush fell over Fiserv Forum only three minutes into Wednesday’s game against the Pistons, when Antetokounmpo crumpled to the court with a calf injury. And although the Bucks believe they have avoided the worst-case scenario – coach Doc Rivers said the team has ruled out an Achilles injury – they will still wait for MRI results to see how long their star will be sidelined.
Before the game, Rivers vehemently denied the idea that the team and Antetokounmpo have begun discussing the next steps, pointing to the Bucks’ current skid – Wednesday was just their second win in the past 10 games – as the reason Antetokounmpo’s future was in question.
Speculation also swirled around Antetokounmpo because he recently cleared out his social media feed, although a source close to him told ESPN he had done so a few weeks ago, not in response to the team’s recent struggles.
Milwaukee has believed a strong season would be enough to quell speculation, but the team went 0-4 when their two-time MVP was sidelined last month with a groin injury.
Sources within the organization told ESPN on Wednesday they were hopeful that when Antetokounmpo and Kevin Porter Jr. are healthy, the Bucks could start playing better in the coming weeks. And they saw some proof of that when Milwaukee rallied for a victory behind 26 points from Porter with Antetokounmpo sidelined.
“I think [Giannis] will be proud of us that we were able to come back and finish the game, get a win,” Porter said after the contest.
Still, the rest of the league will be monitoring Milwaukee closely. Sources from several teams told ESPN they were meeting soon to discuss a potential trade package for Antetokounmpo, targeting Dec. 15, when players across the league who signed this past offseason can be moved.
One thing to keep in mind is that Antetokounmpo is eligible to sign a four-year, $275 million extension with Milwaukee or a team he is traded to starting on Oct. 1, 2026. A team trading for Antetokounmpo will need to have confidence that an extension is likely to happen before giving up significant players or draft picks. If there is no extension, Antetokounmpo will likely become a free agent in the 2027 offseason. – Jamal Collier
Can the Bucks still improve the roster around Giannis?
Don’t underestimate Horst when it comes to improving the roster around Antetokounmpo. Since 2020, Milwaukee has made 17 trades, including deals for Jrue Holiday, Damian Lillard and Kyle Kuzma. With limited options this past summer, Horst took an unprecedented move, waiving and stretching the contract of Lillard to sign free agent center Myles Turner. As the Bucks tumble in the standings, and with Antetokounmpo’s future in Milwaukee in question, Horst will be asked if there is yet another move to bolster the supporting cast.
It’s unlikely such a deal will be available.
While every player on the Bucks’ roster is eligible to be traded starting Dec. 15 except for Ryan Rollins and AJ Green – Rollins won’t be eligible until Jan. 15 and Green not at all – Milwaukee has boxed itself into a corner in terms of tradeable options.
The roster features 11 players earning between $2.2 million to $5.1 million, which leaves the Bucks with $60 million in contracts from Turner, Kuzma and Portis. All three players have at least two years remaining. More importantly, the Bucks don’t control their own first-round pick until 2031, leaving them with one tradeable first in that year’s draft or in 2032. Milwaukee sending Pat Connaughton to the Charlotte Hornets to make room to sign Turner has left the Bucks with no second-rounders.
One area of strength? The Bucks are below both luxury tax aprons enough to take back salary in a potential deal. They do owe $20.2 million to Lillard in each of the next five years, including this season. – Bobby Marks
Five Giannis trades that would shake up the title race
Atlanta Hawks get:
Giannis Antetokounmpo
Cole Anthony
Bucks get:
Trae Young
Zaccharie Risacher
2026 first-round pick (via better of Pelicans and Bucks)
2027 first-round pick (top-four protected, via worse of Pelicans and Bucks)
2029 first-round pick (top-four protected 2029 to 2031, unprotected in 2032 if not conveyed)
2031 first-round pick (top-four protected in 2031 if eligible, otherwise unprotected in 2032)
Note: Trade cannot be completed until Dec. 15
The Hawks have the unique ability to help Milwaukee regain its own picks as part of a post-Giannis rebuild. Technically, Atlanta controls only shares of picks from the Bucks and New Orleans Pelicans, who got them in the Jrue Holiday trade five years ago. However, the better of their two picks in 2026 could very well land in the top five and even the lesser of their 2027 selections should be solid.
Milwaukee would surely ask for Wisconsin native Jalen Johnson in trade talks, but I would hold the line there if I’m the Hawks. As is, they’re giving up a former No. 1 pick and a reasonable shot at another one in 2026, a worthy risk given the potential for Atlanta to become the East favorite with this trade. Sending out a budding star in Johnson, whose five-year, $150 million extension now looks like a bargain, for just two guaranteed years of Antetokounmpo in a non-glamour market would be too much to ask.
Flipping Young to a third team would probably make the most sense for the Bucks. In a worst-case scenario, however, Young’s contract would potentially give Milwaukee cap relief as soon as this summer. – Kevin Pelton
Houston Rockets get:
Giannis Antetokounmpo
Thanasis Antetokounmpo
Bucks get:
Alperen Sengun
Fred VanVleet
2027 first-round pick (unprotected, via Suns)
With a 13-5 record, the No. 2 offense and the No. 3 defense in the league, the Rockets might not want to upset the apple cart. But if they could upgrade from Sengun to Antetokounmpo, they would have to at least consider it, given their chance to knock off the Oklahoma City Thunder and win a title this season and next.
For all of Sengun’s many strengths, his efficiency is still only average, while Antetokounmpo is one of the most efficient, highest-usage scorers in NBA history. He would fit perfectly in Houston’s physical, paint-based offense while still supplying the same sort of frontcourt playmaking as Sengun.
For Milwaukee, Sengun represents the best player it could realistically acquire in a trade: a 23-year-old offensive center who should make his second All-Star team this season. Partnering with Ryan Rollins in Milwaukee, Sengun would serve as the foremost building player for the next era of the Bucks, who they need given their lack of first-round picks in upcoming drafts. Houston likely wouldn’t want to offer many picks if they’re including Sengun in a deal, but a future unprotected first-rounder from Phoenix is enticing even if the Suns are playing better basketball this season. – Zach Kram
New York Knicks get:
Giannis Antetokounmpo
Jericho Sims
Bucks get:
Karl-Anthony Towns
Pacome Dadiet
Tyler Kolek
2026 first-round pick (top-eight protected, via Wizards; otherwise, second-round selections in 2026 and 2027)
2028 first-round swap (worse of Bucks or Trail Blazers for Knicks)
2030 first-round swap (worse of Bucks or Trail Blazers for Knicks)
2032 first-round swap
Note: Trade cannot be completed until Dec. 15
Let’s be clear: The Knicks, after trading five first-round picks for Mikal Bridges last year, have no chance of landing Giannis if the Bucks open trade talks with multiple teams. New York has to hope Antetokounmpo pegs it as his desired destination. The Knicks can no longer trade any of their own first-round picks, only swaps and one first-rounder from the Washington Wizards that is top-eight protected this year and converts to second-round picks if not conveyed.
Certainly, a New York offer would include significant talent. This construction uses Towns, an All-NBA third-team pick a year ago, as matching salary. Alternate packages would likely be built around OG Anunoby and Josh Hart. If for some reason Milwaukee wants to build the best team possible without Antetokounmpo, the Knicks can help it get there.
More realistically, the Bucks would need to find a taker for Towns, who would supply additional draft picks. New York’s first-round swaps hold some value for Milwaukee because they happen to fall in the same years the Bucks’ own first-rounder is swapped to the Portland Trail Blazers. So there’s a chance for Milwaukee to move back up even if the Knicks are higher in the standings those seasons. – Pelton
San Antonio Spurs get:
Giannis Antetokounmpo
Bucks get:
Stephon Castle
Harrison Barnes
Kelly Olynyk
Jordan McLaughlin
2027 first-round pick (via Hawks)
2029 first-round pick
2032 first-round pick
Pairing Antetokounmpo with Victor Wembanyama would make for the most fascinating basketball experiment. The price to accelerate San Antonio’s timeline wouldn’t be cheap, costing a set of first-round picks and Castle, the reigning Rookie of the Year.
Still, the potential to team up two MVP candidates in the frontcourt might be too great for the Spurs to resist. Since drafting Wembanyama, they’ve already traded future assets for one veteran All-Star, De’Aaron Fox, and Antetokounmpo is a much more valuable player than the former Kings point guard. If Wembanyama is healthy, a team with Fox, Antetokounmpo and Wembanyama – let alone rookie guard Dylan Harper, Devin Vassell and standout reserves Luke Kornet and Keldon Johnson – could compete for the title this season. After all, the Spurs are 15-6 with Fox, Castle, Harper and Wembanyama all missing time. And the Giannis-Wemby pairing could dominate for the next several seasons.
Castle would be a prime pickup if the Bucks have to trade their two-time MVP, as he seemed in the midst of a sophomore leap before straining his left hip flexor last month. This deal would also allow them to refill some of their barren draft coffers – albeit not with their own picks. Milwaukee could additionally try flipping Barnes, a veteran having a solid season, for additional picks at the trade deadline. – Kram
Golden State Warriors get:
Giannis Antetokounmpo
Thanasis Antetokounmpo
Bucks get:
Draymond Green
Jonathan Kuminga
Buddy Hield
2026 first-round pick
2028 first-round pick
2030 first-round pick (if 1 through 20)
2032 first-round pick
This would be a Hail Mary trade for both teams.
Milwaukee could give Kuminga plenty of runway to see if he’s a long-term keeper and reroute Green – a proven winner and still elite defender – to a contender and extract the maximal pick package from Golden State, hoping that some of those outlying picks could be extremely lucrative once Stephen Curry retires.
For the Warriors, a blockbuster trade would represent an attempt to break out of the funk that has plagued them this season. Adding Antetokounmpo would be a supercharged version of last season’s trade for Jimmy Butler III and create a championship-caliber core, potentially with enough depth behind that star trio to scare the Thunder and the West’s best teams.
Except for a partially protected pick they owe to the Wizards in 2030, the Warriors still possess all of their future first-rounders. They need to decide whether they’re holding onto those picks to build for a post-Curry future, or whether they want to go all-in to pry open Curry’s championship window one final time. – Kram
The best trade for Milwaukee is …
The thinking in Milwaukee should be how to get two bites of the apple: players on controllable contracts that can help now and first-round picks to rebuild draft selections.
There is no incentive for the Bucks to enter a full-scale rebuild. Therefore, what Atlanta could offer – Young, Risacher and four first-rounders – would be too much to pass up.
The Hawks deal has tremendous appeal because the Pelicans’ first-round pick in June could easily end up at No. 1. Combined with their own, the Bucks would likely have two first-rounders in the lottery. The Bucks would also get three additional firsts in future years.
Risacher would give Milwaukee a big athletic wing it lacks and who isn’t eligible for an extension until the 2027 offseason. Any apprehension comes with the cost of Young’s next contract. He is eligible to sign up to a four-year, $229 million extension and can be a free agent in July if he declines his player option.
- Despite the Knicks’ inclusion of Towns, their offer should be a nonstarter due to the lack of first-rounders – aside from the Wizards’ top-eight protected pick in 2026 – headed to Milwaukee.
- The Warriors trade, meanwhile, is probably the best value when it comes to first-round picks. Even with Antetokounmpo, the roster will continue to age, leaving the first-rounders in 2028 and 2030 as possible lottery picks in a potential post-Curry era.
- A Spurs trade involving Castle gives the Bucks a player they can build around that has three years remaining on his rookie contract. Although Barnes is starting and having one of his better shooting seasons, he and Kelly Olynyk are salary filler. While there are three unprotected first-rounders included, the Bucks’ concern would be how much value the Spurs’ 2029 and 2032 first-rounders actually hold with Antetokounmpo, Wembanyama, Fox and Harper anchoring a chase for a title in San Antonio.
- Houston’s deal features Sengun as the best player included in any of the trades who also has four years left on a non-max contract. However, can he and Myles Turner play together, or is it best to do the trade and worry about that later? (The Bucks would have $60 million per season tied up in two centers.) VanVleet has a player option for next season and would give Milwaukee a starting-caliber point guard if he opted in. The 2027 first-rounder via Phoenix holds value because it is unprotected, but it could easily land outside of the lottery if the Suns’ start to this season is any indication of their trajectory.
– Marks
By NBA insiders | ESPN, via ESPN