Latest Giannis Antetokounmpo Rumor Officially Tanks Bucks' NBA Playoff Odds

It's possible that an era in Milwaukee could come to an end at the trade deadline next week.

According to ESPN's Shams Charania, the Milwaukee Bucks are starting to listen to trade offers for two-time league MVP Giannis Antetokounmpo ahead of the Feb. 5 deadline. There's a chance the franchise moves him by the deadline or it could wait until the offseason, but it appears that the two sides will part ways at some point in the future.

"Multiple teams have received a sense that the Bucks are more open than ever to Antetokounmpo offers between now and the deadline, league sources said," Charania wrote. "However, Milwaukee has indicated to interested teams that the organization is not in a rush to complete a move and is willing to navigate Antetokounmpo's future in the offseason if its believed price point of a blue-chip young talent and/or a surplus of draft picks isn't met, sources said. By waiting until the summer, the Bucks could also see which teams are able to offer more appealing draft picks in June."

Two-time MVP Giannis Antetokounmpo is ready for a new home at the Feb. 5 NBA trade deadline or in the offseason as several rival teams make aggressive offers to the Milwaukee Bucks for him, and the franchise is starting to listen, league sources tell ESPN. pic.twitter.com/OejatbQjDy
— Shams Charania (@ShamsCharania) January 28, 2026

Milwaukee's 2025-26 season has been a disaster, as it is outside of the play-in tournament picture in the Eastern Conference and just 3-12 straight up when Antetokounmpo is out of the lineup. Now, with Giannis potentially on the move at the deadline, DraftKings has pushed the Bucks to +1600 to make the playoffs in the Eastern Conference. At those odds, the Bucks have an implied probability of just 5.88 percent to make the postseason.

Antetokounmpo has put up some big numbers this season, averaging 28.0 points, 10.0 rebounds and 5.6 assists per game, but it hasn't been enough for the Bucks to contend in the East. Injuries have also derailed the star forward's season, and he's currently expected to miss multiple weeks with his second calf strain in the 2025-26 campaign.

So, a team trading for Antetokounmpo at the deadline may have to wait a little before he's even ready to play.

The Bucks and Antetokounmpo have been trending towards a breakup for quite some time, as the team has run out of resources to improve the supporting cast around him. Since Antetokounmpo has just one more season left on his deal before he can be a free agent, the Bucks likely need to act sooner rather than later to get the best package possible for their franchise player.

The current No. 12 seed in the East, Milwaukee is 3.5 games out of a play-in tournament spot in the conference. It may make sense for the team to tank the rest of this season, as it will get the lesser of its draft pick and the New Orleans Pelicans' draft pick in the 2026 NBA Draft. New Orleans (which owes the better of the two picks to Atlanta) has the worst record in the Western Conference, so there's a chance the Bucks just keep their pick. That could help them jump start a rebuild in the post-Giannis era.

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