Knicks Must Prepare to Lose Major Assets Amidst Trade Speculation

The Giannis Antetokounmpo trade speculation storyline for the New York Knicks is still far from reaching a resolution, even for someone with as big of a name as the 2x MVP and with as much credit as he's built up over his 13 years with the Milwaukee Bucks.

He just reactivated the long-dormant rumors that he's interested in potentially moving on from the only NBA tea he's ever known, the same one he brought to championship glory within this half-decade. And though the Knicks still have plenty of room to close before they can think about seriously adding one of the best players in the game to their roster, they have an inherent edge as the rare team that Antetokounmpo has already expressed a clear interest in.

A hypothetical trade for the superstar forward would certainly propel the Knicks into an even-more intimate tier of contenders, as the Eastern Conference's best player would suddenly integrate into a considerably more talented lineup that already has a decorated franchise scorer in Jalen Brunson.

What Would They Have to Surrender?

They wouldn't escape such a swap unscathed, though, and have to prepare themselves to empty their entire future asset portfolio should they get an even closer chance of pulling off the trade. Karl-Anthony Towns would, in all likelihood, feature as the exchange's monetary centerpiece, given that his salary lines up closely enough with Antetokounmpo's to make the move work, but the Knicks would need to attach all of their meaningful draft picks to entice the Bucks for their superior player.

New York Knicks Forward Mikal Bridges and Center Karl-Anthony Towns — Nov 28, 2025; New York, New York, USA; New York Knicks guard Mikal Bridges (25) slaps hands with center Karl-Anthony Towns (32) during the first half against the Milwaukee Bucks at Madison Square Garden. Mandatory Credit: Vincent Carchietta-Imagn Images | Vincent Carchietta-Imagn Images

ESPN's Kevin Pelton laid out the groundwork for what the Knicks' offer would look like, and he threw in a few of the Knicks' prospects to ensure that the deal is sweet enough to pique the Bucks' interest. Tyler Kolek and Pacome Dadiet would go out the door along with a haul of first-round pick swaps in 2028, 2030 and 2032, the most distant draft asset that they can dangle.

Due to the Ted Stepien Rule, the Knicks can't trade first-round picks in consecutive drafts, which completely handicaps them after five such assets now sit in the Brooklyn Nets' pocket following the Mikal Bridges trade. All they can throw at Milwaukee is the Washington Wizards' top-eight protected pick, which is near-guaranteed to convey for the tanking unit. Swaps aren't nearly as valuable as a straight-up pick, which really takes the air out of Milwaukee has other offers to parse through.

Their only real avenue to bringing Antetokounmpo to New York depends on the superstar forcing his way to the one team he'd like to go to, a case that's already falling apart as others are sure to throw their names into the ring. But should the opportunity present themselves with a more tangible demand, the Knicks will have to turn over every piece of their long-term vision that they have.

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