Lakers Pitched a Trade for Giannis Antetokounmpo That Costs Them Austin Reaves

The NBA offseason hasn't officially started, but the Giannis Antetokounmpo trade machine is already running at full speed. Milwaukee co-owner Jimmy Haslam wants a decision made before the June 23 draft, and every contender is now drawing up their best pitch.

The Lakers are firmly in that group. ESPN's Shams Charania revealed on The Rich Eisen Show that Los Angeles can offer their No. 25 pick in this year's draft, plus two unprotected future first-rounders in 2031 and 2033. That is a real package, but it may not be enough on its own.

Bleacher Report's Eric Pincus laid out a more detailed trade proposal that flips the whole conversation. Here is what the deal would look like:

Lakers receive:

Giannis Antetokounmpo
$12.4 million trade exception
$4.2 million trade exception

Bucks receive:

Austin Reaves
Jarred Vanderbilt
Jake LaRavia
Dalton Knecht
Nick Smith Jr.
2031 first-round pick
2032 protected first-round swap

This works as a sign-and-trade, with Reaves opting out of his $14.9 million player option to sign a four-year, $172 million deal, then getting shipped to Milwaukee. Milwaukee couldn't afford that contract on their own, so the sign-and-trade is what makes it possible for them to land Reaves at that price.

Lakers Giannis Trade: Why Austin Reaves Is the Key to Making It Work

Los Angeles Lakers guard Austin Reaves — Austin Reaves | Erik Williams-Imagn Images

Luka Doncic has made it clear to the Lakers that he wants to keep playing with Reaves, and multiple league sources said he told people inside the organization he would not want Reaves included in any Giannis trade package. That is a real complication. Lose Reaves, and you risk upsetting your franchise cornerstone the moment he arrives.

The problem is simple: if Los Angeles does not offer Reaves, their ability to send back any significant star shrinks fast. The Bucks want a real piece in return, not just picks and cap flexibility. Reaves is the only Laker who checks that box right now.

The competition is stiff too. The Miami Heat went after Giannis at the trade deadline and are coming back with a stronger offer. Their package centers on Tyler Herro, Kel'el Ware, the No. 13 pick, plus future first-rounders in 2031 and 2033. Milwaukee gets younger players and more picks, which makes it a harder offer to turn down.

The Bucks are expected to wait until the NBA Finals conclude before making a move, and the Finals between the Spurs and Knicks could run as late as June 19. The Lakers will need to decide quickly after that: Is Giannis worth letting Austin Reaves walk out the door?

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