Does Thanasis Returning to Bucks Impact a Giannis Trade to Spurs in Future?

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The Milwaukee Bucks were one of the most talked-about teams during the start of the NBA offseason. After coming up short in the postseason yet again after being NBA Champions in 2021, the Bucks franchise has done a complete 180 this offseason.
Key veteran center Brook Lopez departed in free agency to the Los Angeles Clippers, and the NBA world was shocked when they stretched and waived Damian Lillard to make room to sign Myles Turner to a multi-year deal. Amid all of this, trade rumors around Giannis Antetokounmpo have been floated.
NBA scoring leaders over the last decade:
— Basketball Forever (@bballforever_) August 19, 2025
🔸18,983 - Giannis Antetokounmpo
🔸18,801 - James Harden
🔸17,686 - DeMar DeRozan
🔸17,621 - Damian Lillard
🔸17,271 - LeBron James
🔸16,672 - Stephen Curry
🔸16,452 - Devin Booker
🔸16,210 - Nikola Jokić
🔸15,485 - Russell Westbrook… pic.twitter.com/pfjRBRY7Mg
Arguably a top-three player in the NBA, Antetokounmpo has averaged 30.4 points and 11.7 rebounds over the last four seasons. However, the franchise has failed to build a winning roster around Giannis since their championship year, as veteran forward Kyle Kuzma might be the team's second option next season.
While trade rumors have quieted down, the Bucks did bring back Giannis' brother, Thanasis, on a one-year deal that should keep the two-time MVP in place for the time being. But, with a team like the San Antonio Spurs having the assets to pull off a trade and having reported interest, could the Spurs still strike a deal despite Thanasis' return?
San Antonio's Chances
Thanasis Antetokounmpo is signing a guaranteed one-year, $2.9 million deal to return to the Milwaukee Bucks, sources tell ESPN. Antetokounmpo played for Bucks from 2019-24. This also means after a summer of exploring options, Giannis is staying in Milwaukee to start the season.
— Shams Charania (@ShamsCharania) August 31, 2025
Even though Thanasis signed a one-year deal with the Bucks, the reality is that he's purely there to satisfy their star player. If Milwaukee finds itself in a situation this coming season where they are out of the playoff race and trading away Giannis makes sense, Thanasis isn't likely to be a deal breaker in negotiations.
In the case that a deal goes down between the Spurs and Bucks, which would likely be during the season for it to happen, it would require multiple players from each side being dealt. Therefore, including Thanasis as a throw-in for the deal wouldn't be problematic.
The San Antonio Spurs are a team to watch for Giannis Antetokounmpo, per @WindhorstESPN
— NBACentral (@TheDunkCentral) May 2, 2025
(Via @GetUpESPN ) pic.twitter.com/crddvURCF6
Looking at a potential trade package that could get the Bucks to budge and allow the Spurs to team Victor Wembanyama up with the Greek superstar, the deal would likely feature Devin Vassell and Harrison Barnes for contract reasons, and one or two of San Antonio's young assets to go with their draft capital.
Given Milwaukee's need for help at the guard position after Lillard's release this offseason, Stephon Castle or Dylan Harper would likely need to be in the deal for the Bucks to agree to part ways with Giannis.
Teams like the Spurs, Heat, Rockets, and Knicks have stayed out of other major trades this offseason in hopes of potentially acquiring Giannis Antetokounmpo, per @WindhorstESPN
— NBACentral (@TheDunkCentral) June 30, 2025
(🎥 @GetUpESPN )
pic.twitter.com/rkA0JHhays
But, in terms of Thanasis affecting San Antonio's chances, that's probably the least of the Spurs' worries if they were to try and bring Giannis to the team. If anything, Thanasis' return to Milwaukee is to help ease any struggles the Bucks could likely see next season.
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A 2024 graduate of the University of Miami, Liam spent several years covering the University’s football and basketball teams. An avid basketball fan, you can find Liam on X @theleftyliam where he’s constantly sharing his thoughts.