Giannis Antetokounmpo’s Future In Milwaukee Questionable Amid Spurs Rumors

The NBA offseason started off in a way that many thought was going to create massive changes across the league's landscape. While stars like Kevin Durant, Kristaps Porzingis, and Desmond Bane found new homes, it seemed at one point that Giannis Antetokounmpo leaving the Milwaukee Bucks was a done deal.

While the Bucks have since made moves such as waiving Damian Lillard, signing Myles Turner and Cole Anthony, and bringing back Gary Trent Jr., the reality is that Milwaukee is far from a championship contender if you remove Antetokounmpo from this roster. Therefore, a recent report has piqued the interest of teams around the league.

"Sources tell me there's still nothing set in stone about whether Giannis Antetokounmpo will stay in Milwaukee or whether he will be leaving."

—@ShamsCharania pic.twitter.com/ouhenIqxMs
— Get Up (@GetUpESPN) August 4, 2025

Appearing on ESPN's Get Up, NBA insider Shams Charania revealed that "nothing [is] set in stone" regarding Antetokounmpo remaining in Milwaukee or leaving. After rumors were shut down that Antetokounmpo was going to request a trade, it seems as though they can't be put to bed yet.

Following it up later on Monday morning, Charania revealed that multiple teams are waiting to see what decision Antetokounmpo makes about his future in Milwaukee.

“There are multiple teams that I know of that are literally waiting right now on what decision Giannis Antetokounmpo makes."

- @ShamsCharania

(via @FirstTake / h/t @ClutchPoints )

pic.twitter.com/JmmE3BxWLX
— NBACentral (@TheDunkCentral) August 4, 2025

Who Could These Teams Be?

Based upon prior reporting and how the two teams have operated this offseason, the Golden State Warriors and San Antonio Spurs seem like safe choices to be among those teams waiting to see what Antetokounmpo does next.

The Warriors have come under a lot of criticism lately for their lack of moves this offseason, in large part due to the situation around Jonathan Kuminga. However, if Antetokounmpo becomes available for trade, they could put together a package around Kuminga and other players and draft picks to make an offer for the Bucks star.

The Knicks, Heat, and Warriors are reportedly among the teams interested in Giannis, per @nypost pic.twitter.com/FR2M2xMwEO
— Legion Hoops (@LegionHoops) June 27, 2025

As for the Spurs, they made it clear this offseason they wanted to add frontcourt talent around Victor Wembanyama to make it easier for him to play his role. The team signed/traded for Luke Kornet and Kelly Olynyk, but Antetokounmpo would be a clear upgrade over the two role players.

What Could A Spurs, Giannis Trade Look Like?

The Spurs could very well opt to put their trust in the future backcourt of Stephon Castle and Dylan Harper, and trade away De'Aaron Fox to the Bucks and avoid paying him his new extension. However, Fox wanted to be in San Antonio, so it'd likely be a hard sell to convince him to stay in Milwaukee long-term.

Realistically, the Spurs trading for Giannis Antetokounmpo would require them to include a mix of young players and salary fillers, given the two-time MVP is set to make over $50 million next season. Here's what a potential mock trade could look like:

Milwaukee Bucks, Giannis Antetokounmpo — Jan 31, 2025; San Antonio, Texas, USA; Milwaukee Bucks forward Giannis Antetokounmpo (34) drives to the basket while defended by San Antonio Spurs center Victor Wembanyama (1) during the first half at Frost Bank Center. Mandatory Credit: Scott Wachter-Imagn Images | Scott Wachter-Imagn Images

Milwaukee Bucks receive: Harrison Barnes, Devin Vassell, Stephon Castle, Jeremy Sochan, 2028 1st SWAP via BOS, 2030 1st SWAP via DAL or MIN, 2032 1st via SAS, 2026 2nd via UTA, 2028 2nd via SAS, 2030 2nd via SAS

San Antonio Spurs receive: Giannis Antetokounmpo and Bobby Portis

*Disclaimer: trade can not be completed until Portis' recently-signed restriction is lifted

A lot of value for the Spurs to give up, it would push them into contention immediately next season. The Spurs would get to hold onto their two 2025 first-rounders in Dylan Harper and Carter Bryant, and trading away Castle avoids any potential logjam in the backcourt down the road.

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Who Could These Teams Be?

What Could A Spurs, Giannis Trade Look Like?

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