How the Bulls Could Make Real Noise in a Giannis Antetokounmpo Trade

The Chicago Bulls need to stay vigilant over the next couple of weeks.

New vice president of basketball operations Bryson Graham is headed toward his first-ever NBA Draft as lead executive. And it's one of the most important in franchise history. With only one measly playoff berth since the 2016-17 campaign, the organization has an opportunity to jumpstart a rebuild with two Top 15 picks. One of those picks happens to sit at No. 4 in easily the deepest draft in years.

Indeed, there is a chance for the Bulls to finally grab a star ... or two. Not only will there be plenty of high-level talent left on the board for Chicago's second pick at No. 15, but you never know what trade-up opportunities might present themselves. This is likely why the Bulls have brought in several of the players for pre-draft workouts who are widely expected to fall between their two selections.

Nevertheless, as important as this draft night preparation is, the Bulls can't have blinders on. As the NBA Finals wind down, this is the perfect time for trade activity to pick up. Teams are going to start thinking hard about their 2026-27 intentions, opening the door to tons of movement.

More specifically, the Giannis Antetokounmpo trade buzz has grown louder and louder in the lead-up to draft night. The blockbuster deal could be only days away, and the Bulls have every reason to keep their eyes peeled.

Bulls Should Try to Get In on Giannis Deal ...

Feb 3, 2026; Milwaukee, Wisconsin, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) practices before a game against the Chicago Bulls at Fiserv Forum. Mandatory Credit: Michael McLoone-Imagn Images | Michael McLoone-Imagn Images

To be absolutely clear, no, I don't think the Chicago Bulls are about to throw their hat in the ring for Giannis Antetokounmpo. While there have been a few rumors in the past that surprisingly connected the two, that was before the franchise opted for a rebuild and overhauled the front office. Does Chicago have the assets to make an interesting offer? Sure, but Bryson Gaham has given no indication that this kind of quick fix is in the cards.

Instead, all Graham has talked about is building out methodically. Not only will this include adding multiple rookies in the upcoming draft, but it will also mean using their loads of cap space wisely. As things currently stand, the Bulls are well-positioned to have more spending power than any team in the league. Could this mean pursuing some of the top restricted free agents on the market? Perhaps, but it could also mean using that money to absorb unwanted contracts in exchange for the future assets.

Graham even brought this up during his introductory press conference and acknowledged that it can be a useful way to build toward the future. To be sure, that doesn't guarantee the Bulls will do it, but their openness is another reason this change feels like a breath of fresh air. No one wants bad money on their cap sheet, but it can undoubtedly be worth it for a team with so little to lose.

The Antetokounmpo deal is going to require a ton of moving parts. The Greek Freak is currently owed $58.5 million in 2026-27, which is a number most teams can't easily match with a contract or two. Then, if you're a Bucks team forking over the best player in the trade, why the heck would you want to eat any undesirable salary to get a trade over the finish line? Better yet, why not try to use a trade to offload some of your own bad money?

Whether it's Myles Turner or Kyle Kuzma, it might behoove the Bulls to take on a contract to help the Heat get the deal done. What if it leads to them landing someone like Kel'el Ware or Kasparas Jakucionus? Another option could be facilitating in exchange for a slight jump up the draft board. Miami's No. 13 pick could go to Chicago, while Milwaukee moves to No. 15. Not crazy!

The Portland Trail Blazers are also said to be in the mix. To make that deal work, it feels likely that Jerami Grant would have to be involved, and he still has two years at $34+ million on his contract. Would the Bucks really want that on their roster? It would be a lot of money for the Bulls to take on, but they could be rewarded somewhat handsomely for doing so. Portland has plenty of draft capital to give up, as well as several interesting young pieces that could make sense for the Bulls' rebuild.

Something important to remember here is that it isn't necessarily in the Bucks' best interest to tank. Not only have the lottery rules now changed, but the Bucks still own their 2027 first-rounder outright. They will want to build a somewhat competitive roster in 2026-27, meaning they will be extra picky about a trade return. Heck, is it possible this makes Josh Giddey an interesting player for Milwaukee, particularly if Graham is eyeing a different lead guard? If the Bulls were to throw him in AND act as facilitator, they could walk away with quite an interesting haul.

At the end of the day, the main point is that the Bulls should be keeping their options open. They are in a better position than most to take advantage of these blockbuster deals. If they really want to jumpstart this rebuild, reminding everyone of that before the summer activity heats up is a good idea.

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