How the Bucks can squeeze the most from a Giannis trade

As the self-imposed deadline nears, Milwaukee needs more suitors to appear

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The Bucks don't necessarily need to trade Giannis Antetokounmpo by the NBA Draft near the end of this month. They could hold him, make their own draft pick at No. 10 (or deal it), try to take some swings in free agency and with win-now trades and attempt to convince him to sign an extension and stay.

But all of that seems quite unlikely at the moment.

Milwaukee management and ownership made it known that they would like to resolve this soon, all while trying to get as much as they can in return. And as more and more reports have Miami ahead of the rest of the mix, with even the prediction markets saying so, it's worth wondering if the Bucks will hold tight for a couple of weeks just to say if some other team comes along.

We know what the Miami can and might ultimately offer; it's basically everything on the roster but Bam Adebayo, plus up to three first round picks (including #13 in this draft), pick swaps and assorted other goodies.

But being able to offer all that doesn't mean that the Heat want to. Tyler Herro and Kel'el Ware are assumed to be givens, but Jaime Jaquez Jr. (due an extension), Pelle Larsson (off a strong second season) and Kasparas Jakucionis (who flashed as a rookie) are all variable inclusions at this point.

Milwaukee would surely like to secure as many as possible, since all are proven to some degree, and then either keep them for a quick rebuild or send them on somewhere else for more assets.

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The fact that a Bucks-Heat deal isn't done yet suggests a couple of things:

First, that the Bucks are still trying to pry away more than the Heat would prefer -- and figure that the Heat will offer more if another serious suitor for Antetokounmpo emerges. After all, the Heat have a certain level of desperation to ultimately get this done, seven years removed from their last star acquisition (Jimmy Butler) and after three dull seasons that have frustrated the Heat fan base.

And second, that Milwaukee believes that team may be out there.

Or maybe it knows it is, and is trying to get more from that organization.

So is it Boston? Some insiders hint so, but ESPN's Brian Windhorst has consistently shot that down, and did again this weekend.

“I have not heard that Boston is on Giannis list. I have not heard that Giannis is prepared to sign the extension with Boston….. Just because I haven't heard doesn't mean it's not true. But until those two things are true, I don't think it's really something that's in the world… pic.twitter.com/TvH5YR8ruy

— Heat Central (@HeatCulture13) June 7, 2026

What about OKC?

The Thunder have the means and might have the motivation, after falling in the Western Conference Finals to the San Antonio Spurs.

But that hasn't really been Sam Presti's style. The GM might decide to deploy his assets for younger targets, even with Giannis's ability to guard Victor Wembanyama better than Chet Holmgren has.

Portland? We keep hearing about the Trail Blazers interest in reuniting Giannis with Jrue Holiday and Damian Lillard, and the Bucks' desire to regain control of their picks -- two swaps with Portland have the potential to hamstring the future. But there have also been reports that Giannis doesn't want to go West, and so he wouldn't extend with the Blazers, making it less likely they give the Bucks a lot for a likely rental.

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New York? The Knicks were Giannis's preferred destination last summer by some accounts, had he been traded then. But, well, the Knicks seem to be doing just fine without him, leading the Spurs 2-0 in the NBA Finals. And would Giannis want to join a champion, and be ridiculed more than Kevin Durant was for latching on to the runner-up Golden State Warriors in 2016?

And what of a mystery team?

Does Orlando qualify?

Giannis is known to love Disney. There's no state tax, just as would be the case in Miami. The weather's not bad either, if without the South Beach breeze. So he might extend there. And the Magic have headlining young talent in Paolo Banchero and Franz Wagner to trade... if they want to.

Would they?

There's time to decide, a couple of weeks before the draft.

So we wait.

As the Bucks wait on a big break.