With the NBA draft lottery complete and June’s draft approaching, the Milwaukee Bucks are open to taking trade calls on Giannis Antetokounmpo this offseason, league and team sources told ESPN’s Shams Charania, the report says. After holding the two-time MVP through the February trade deadline, the Bucks see the draft period as a natural moment to explore offers.
Bucks co-owner Jimmy Haslam told the report that “before the draft is a natural time,” noting that general manager Jon Horst must prepare if Antetokounmpo plays elsewhere. Controlling owner Wes Edens was blunt in March, saying “one of two things will happen: Either he will be extended or he’ll be traded,” per the report. The report adds that Milwaukee now realizes it cannot wait until October for a decision.
Antetokounmpo has two years left on his deal, with the second year a player option, and will be eligible to sign a four-year, $275 million contract Oct. 1, the report says. If he exercises his $62.8 million option for 2026-27, the contract would convert to three years, $213.6 million. The report notes that any team acquiring him this offseason could offer the same extension but would have to wait six months after a trade before doing so, meaning potential partners must weigh the risks of trading significant assets without a guaranteed extension.
The report outlines Milwaukee’s roster and asset situation. The Bucks hold the 10th pick in June and, starting the night of the draft, are allowed to trade two additional first-round picks in 2031 and 2033. Milwaukee is also projected to be over the salary cap, a result the report attributes in part to signing Myles Turner last offseason and owing Damian Lillard $20.2 million per season through 2029-30 after waiving and stretching his contract. The team has nine free agents this summer, five with player options: Kevin Porter Jr., Gary Trent Jr., Gary Harris, Taurean Prince and Jericho Sims, per the report.
The report explains trade mechanics: any franchise without cap space would have to send Milwaukee at least $46.6 million in salary and remain below the first apron. Salaries cited reflect the 2026-27 season, and players with options cannot be traded until those options are exercised. Aside from using the Turner, Kyle Kuzma or Bobby Portis contracts in a deal, Milwaukee would have a $15.1 million non-tax midlevel, a $5.5 million biannual and veteran minimum exceptions available, the report says.
Among potential suitors, the report identifies the Golden State Warriors as a lottery team to watch. After missing the playoffs for the second time in three seasons, the Warriors — who have the 11th pick and can trade three additional first-round picks (2028, 2030 top-20 protected and 2032) and swap picks over the next seven years — may explore options to pair Stephen Curry with Antetokounmpo. The report says Golden State “would be hard-pressed to cobble together enough matching salary and still have flexibility in adding to the roster.”
