At halfway point, the Milwaukee Bucks are in middle of nowhere

These days, the Milwaukee Bucks only get mentioned as a means to others' ends.

That was evident again this week, as ESPN's Brian Windhorst reported that much of the NBA, and its transaction machine, is on hold until the Bucks reach some sort of resolution about the future of Giannis Antetokounmpo. As in, does Giannis really want to stay and, even if he doesn't, will they keep him until season's end?

Windy:

"There are deals that are on hold and talk progressions on hold because teams still aren't 100% sure whether Giannis is gonna be on the team the rest of the year" pic.twitter.com/QtYO9THpd9
— Oh No He Didn't (@ohnohedidnt24) January 16, 2026

And that's really about it. There's not much conversation about whether the Bucks can make something of this season because, on the surface, it doesn't seem they can. They have played better for sure since their superstar returned, including a clutch win in Los Angeles against the recently-struggling Lakers. But there's been no real movement up in the standings, with Milwaukee still sitting 11th, 1 1/2 games behind Atlanta, which is Monday's opponent. The teams are tied with 24 losses, but the Bucks have played three fewer games.

The record of 17-24 at the midway point is jarring to see, considering that the Bucks haven't finished under .500 since 2015-16, when Giannis was a rookie. They were 33-49 that season and are trending about the same -- though, again, better since he came back.

What's the best-case scenario? Well, it likely isn't a top-six playoff seed that avoids the Play-In Tournament entirely. The Bucks would need to jump five teams, including Cleveland, which currently sits six games ahead and seems to have righted itself after a rocky stretch.

Giannis remains the best player in the conference when he's available, pacing for career-highs in several categories. He's making a ridiculous two of every shots he makes, and no team has figured out a way to slow him down, even if almost everything he does requires him to be near the rim. But it's hard to think of a player of his caliber in his prime who has been given so little in support.

Ryan Rollins has been a revelation, and Kevin Porter Jr. has certainly had moments, but even with Bobby Portis and Kyle Kuzma providing some frontcourt production -- largely off the bench -- Antetokounmpo still needs to carry in nearly every contest. The coach, Doc Rivers, hasn't appeared to be additive; in fact, he's been making excuses lately, which is how it ended poorly elsewhere for him.

Giannis's presence alone makes him an undesirable play-in opponent for anyone -- especially if GM Jon Horst adds someone of substance prior to the trade deadline -- and you'd think Miami, Orlando, Philadelphia or any other team that ends up there would rather Chicago lock up the 10th spot than Milwaukee. That's nice. But for a franchise that won a championship not long ago, and has been winning at a 50-plus game rate for a while, it's not enough.

And it feels like the second half of this season will be as rocky as the first.