New Blockbuster Three-Team Trade Proposal Sends Giannis to Orlando Magic, Hawks Get Okongwu Insurance

Should the Hawks be the third team in a massive Giannis Antetokounmpo deal that would shake up the Eastern Conference?

Mar 30, 2025; Milwaukee, Wisconsin, USA; Atlanta Hawks guard Trae Young (11) dribbles the ball under pressure from Milwaukee Bucks forward Giannis Antetokounmpo (34) during the third quarter at Fiserv Forum. Mandatory Credit: Jeff Hanisch-Imagn Images / Jeff Hanisch-Imagn Images

The clock is rapidly ticking on the tenure of Giannis Antetokounmpo making his desire to be traded from the Milwaukee Bucks public.

The Bucks are currently down 3-1 in the first round of the playoffs to the Indiana Pacers. Point guard Damian Lillard is out for the series with an injury that could also cause him to miss a significant chunk of next season. They have two supermax contracts on their books and have very little depth. Furthermore, they're barely in the first apron of the salary cap and they're running low on draft assets. Their first-round pick in this year’s draft belongs to the Brooklyn Nets. In 2026, the New Orleans Pelicans have swap rights for Milwaukee's first-round pick. In 2027, their first-round pick goes to either New Orleans or Atlanta. In 2028, the Portland Trail Blazers or Washington Wizards have swap rights for their first-round pick. In 2029, their first-round selection goes to either Portland or Washington. In 2030, Portland has swap rights for Milwaukee's pick. They won't have control of their firsts until 2031 and Giannis is going to be 35 by then.

Giannis himself is still an incredible talent and good enough to keep them in the postseason race essentially alone. In his last 10 playoff games, he's averaged 35.6 points, 15.3 rebounds and 6.1 assists. During the regular season, he had his third straight season of averaging 30+ (30.4) points and 11+ (11.9) rebounds on 60+ TS% (62.5). Even at 30 years old, he's still adding things to his game as he hit a career-high 48% of his shots from 10-16 feet away from the basket. That's all before mentioning his elite help defense and ability to match up with any big man in the NBA. There isn't a player like Giannis in basketball today and Milwaukee will get a haul of assets if they trade him.

When analyzing teams that could trade for him, every team in the NBA should at least make an offer. However, teams that are flush with draft picks and have intriguing, young prospects have a realistic shot of landing him. Milwaukee needs to maintain some semblance of competitiveness because they don't have control over their own picks for the next four seasons. Players that can make them a consistent postseason team will be highly valued. With those criteria, the Oklahoma City Thunder, San Antonio Spurs and Houston Rockets immediately stand out as possibilities.

One candidate to make a move for Giannis and doesn't get talked about as such is the Orlando Magic. They are currently down 3-1 to the Boston Celtics in the first round, but this has been an injury-riddled season for Orlando. The Magic already have their franchise cornerstone in power forward Paolo Banchero and an All-Star candidate in Franz Wagner, along with solid complementary pieces in point guard Jalen Suggs, shooting guard Kentavious Caldwell-Pope and center Wendell Carter Jr. They could turn themselves into a NBA Finals contender for the next four seasons by trading for Giannis.

The Hawks can use this situation to their advantage by adding rotation pieces as the third team in the deal. Teams are under incredibly stringent financial restrictions and big-time moves for stars often require a third team to make the money work.

If Orlando pulled the trigger on a trade for Giannis, what would the package look like? Here's a possible framework that includes the Hawks as a third team:

It should be noted that this is just a speculative and fun exercise to see what kind of moves can be made, not what I think the Hawks should do or will do. That is all.

Atlanta Hawks get: Goga Bitazde

Orlando Magic get: Giannis Antetokounmpo, Bobby Portis and Kobe Bufkin

Milwaukee Bucks get: Franz Wagner, Jonathan Isaac, Cole Anthony, 2025 1st round pick (via ORL, from DEN), 2027 1st round pick (via ORL) and 2029 1st round pick (via ORL)

Why Atlanta Might Do This Trade: Currently the backup center for the Magic, Bitazde is a 6'11 center who has finished in the 93rd percentile or better as a shot blocker for the past three seasons. This year, he posted a BLK% of 3.9%, which is in the 95th percentile per Cleaning the Glass. He's a great rebounder as well, finishing above the 80th percentile as a rebounder in both offensive and defensive rebounding categories. On offense, he's much more limited. He hit 72% of his shots at the rim, which is solid yet unspectacular, and doesn't stretch the floor at all. It should be noted that he started the season off very strong and tailed off throughout the course of the year. However, he's a reliable backup center and should be a better player in Atlanta working off of Trae Young. He has played his best basketball with Jalen Suggs and Suggs' injuries this season hampered his effectiveness. At only 25 years old, Bitazde is also under contract for the next two seasons. He fills an obvious need at backup center for the Hawks and helps them move off the injury risk that has plagued Kobe Bufkin's career to date.

Why Orlando Would Do This Trade:  The Magic are currently the worst offense in the playoffs by PPG and they were the 28th-ranked team in the same category during the regular season. There isn't much to say about how badly they need an injection of offensive talent and Giannis is exactly that. The fit with Paolo Banchero might take some figuring out, but they would be able to run a jumbo-size duo at the wing position rife with passing and midrange scoring. Despite his size, Paolo is not an elite defender while Giannis can cover up mistakes on that end. Furthermore, the Magic also get a solid bench option in Bobby Portis. Portis can occasionally get hot from deep and posted a reasonable 36.5% on threes while taking 3.6 of them per game. Trading Franz Wagner is a tough pill to swallow, but they are replacing him with a true MVP-caliber option. Suggs and KCP are much better shooters if the defense is prioritizing all their attention to stopping Giannis/Paolo in the midrange and paint. Their hypothetical starting lineup of Jalen Suggs, Kentavious Caldwell-Pope, Giannis, Paolo and Wendell Carter Jr has a ton of size and a higher offensive ceiling without sacrificing any of their stellar defensive infrastructure. They also have some interesting role players in Portis, Tristan Da Silva, Kobe Bufkin (if healthy), Caleb Houstan and Anthony Black.

Why Orlando Would Not Do This Trade: This is a big risk for them to take and they would be a 1st apron team, which severely limits their salary flexibiility. They also need more shooting and a true guard that can space the floor and set everyone up. Suggs and KCP should be better shooters because they can thrive off-ball, but more additions are necessary for a team that finished with the worst team 3P% in basketball (31.8%) this season. It's going to be much tougher to find a backcourt shooter after a big move like this.

Why Milwaukee Would Do This Trade: They get a player with All-Star or even All-NBA potential in Franz Wagner as the headliner of the deal. He's only 23 years old, but he's already an elite defender and cutter while finishing well in the paint. He can run some offense and he is excellent as an off-ball option. The only knock in his game is his shooting from deep, but the Bucks weren't getting much shooting out of Giannis anyways. Jonathan Isaac is a very limited offensive player, but he can guard 1-5 at his best and can replicate some of what Giannis brings on defense. Importantly, he offers an answer for the Bucks as they try to figure out their future at center with Brook Lopez being a free agent this summer. Cole Anthony can run some offense in the absence of Lillard and gets hot at times from deep, which boosts his overall ceiling. They also get a first-round pick in the 2025 draft so that they can add some talent immediately.

Why Milwaukee Would Not Do This Trade: Franz has shown him to be a valuable second option with potential to grow into a franchise player, but that potential has been unrealized. The Bucks would be making a significant projection as to what Wagner can become and they don't have a ton of talent around him to realize that. Isaac took a big step back this year and has struggled to stay on the court. Anthony has gotten a lot of opportunities to be a sixth-man scorer in Orlando, but hasn't really taken hold of the role. They would be projecting him to make another big jump into being a starter-level player for them. Also, dealing Giannis within the conference would be a tough pill to swallow.

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