Magic could have buyer's remorse amid latest Giannis Antetokounmpo rumors

Orlando made a trade to win now, but now it is short on assets

Jan 26, 2026; Cleveland, Ohio, USA; Orlando Magic guard Desmond Bane (3) dribbles the ball in the first quarter against the Cleveland Cavaliers at Rocket Arena. Mandatory Credit: David Richard-Imagn Images | David Richard-Imagn Images

When the Orlando Magic acquired sharpshooting guard Desmond Bane in the offseason, it wasn't crazy to think the deal as a win-win for both sides.

Orlando, on the brink of contending in the weakest Eastern Conference in recent memory, acquired the perfect ancillary piece alongside Paolo Banchero and Franz Wagner, hopefully catapulting them into that next tier with their star-studded defense. The Memphis Grizzlies, on the other hand, received a bevy of first-round draft capital -- in addition to Kentavious Caldwell-Pope and Cole Anthony -- plus financial flexibility to build around Ja Morant and Jaren Jackson Jr.

However, at least halfway through Bane's first season, while he's been fairly productive amid injuries to both Banchero and Wagner (albeit at different points of the season), it's looked fairly one-sided in Memphis' favor.

That, of course, can change by the tune of the Magic winning a title. Though that seems anything but likely right now. Orlando is currently entrenched in the middle of the East at 24-22, fighting with the mediocre Miami Heat, Atlanta Hawks and Chicago Bulls for play-in positioning.

However, amid the latest rumors surrounding Giannis Antetokounmpo, is it possible for the Bucks to feel some sort of buyer's remorse?

Magic don't have the draft capital to compete in Giannis sweepstakes:

Mar 8, 2025; Milwaukee, Wisconsin, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) drives to the basket in the first half against the Orlando Magic at Fiserv Forum. Mandatory Credit: Michael McLoone-Imagn Images | Michael McLoone-Imagn Images

I don't mean to blow smoke, but the Magic would have one of the most intriguing packages ... assuming they still had some access to draft capital they no longer have.

They would still be restricted by Paolo Banchero's poison pill, but they only have their first available in 2032, with swaps available in 2027 and 2031. That's not enough, even though a few of the other reported Giannis suitors (Timberwolves, Knicks) are bereft of draft capital too.

Golden State has four firsts they can move now -- with essentially no young talent -- while the Heat only has two picks in 2030 and 2032. It makes sense for the Bucks to chomp at the bit for both a "blue-chip" talent plus draft capital. Theoretically, they could have done either with Franz Wagner and Anthony Black plus picks.

The Magic no longer have the latter, however.

If not for Bane, Orlando would have considerably fewer wins. He's still their best floor spacer and has been critical to several wins. It would've needed far more shooting if they didn't sacrifice the level of draft capital they did.

But the Magic would also have the opportunity to acquire a top-3 talent in the NBA. And that's a position you never want to play yourself out of, no matter the on-court fit with, say, Banchero and/or Wagner.

Hindsight is 20-20, though.