What Is Giannis' Trade Value? NBA Insider Dishes on How Execs View Superstar Deals

As Giannis Antetokounmpo and the Milwaukee Bucks try to figure out their best path forward, a potential trade of the two-time NBA MVP might not bring back the type of return one would expect given his pedigree.

On the latest episode of The Hoop Collective Podcast (starts at 12:25 mark), ESPN's Brian Windhorst explained that the "mood" from executives around the league right now is "not to give up four first-round picks for anybody."

The reasoning is because teams are "spooked" by the apron rules where they "can't reset their rosters" without a situation like the one involving the Boston Celtics over the summer when they traded high-level contributors like Jrue Holiday and Kristaps Porziņģis as part of a series of moves that saved the team more than $300 million:

"What I'm telling you is that when I talk to executives and these executives are not in trade talks with the Bucks or another for a star player right now, the mood in the NBA right now is not give up four first round picks for anybody. ... This is how teams are thinking right now. They're a little freaked about the aprons. There ain't going to be no five first round pick trades. I know that we saw those for a while. That's just not to happen."

ESPN's Shams Charania reported on Wednesday that Antetokounmpo and his agent have started conversations with the Bucks about his future and "whether his best fit" is to remain in Milwaukee or go elsewhere.

Four first-round picks for a player of Antetokounmpo's caliber would seem like the starting point of trade negotiations. The Orlando Magic sent three unprotected first-round picks and a pick swap in 2029 to the Memphis Grizzlies for Desmond Bane over the summer.

Bane is a good player who has had a positive impact on the Magic so far, but Antetokounmpo is still one of the top three players in the NBA along with Nikola Jokić and Shai Gilgeous-Alexander.

One potential complicating factor in any Antetokounmpo is figuring out what the Bucks want. It doesn't do them any good to bottom out because they don't control their own first-round draft picks until 2031.

This would likely mean the Bucks need to find a team with a high-level player they are willing to include in a deal for Antetokounmpo or try to bank on an acquiring team bottoming out sooner than later so Milwaukee can get a high pick.

Another difficult part of the equation is Antetokounmpo's contract could make it hard to get good value in the apron era. He is making $54.1 million this season, $58.5 million in 2026-27 and $62.8 million on a player option in 2027-28.

ESPN's Bobby Marks did note the Bucks aren't currently into the apron, so they can take back salary in a potential trade.

There is also the matter of Antetokounmpo's health after he suffered an injury scare in Wednesday's 113-109 win over the Detroit Pistons. Bucks head coach Doc Rivers said the team ruled out an Achilles injury, but he will miss two to four weeks with a calf strain.

Antetokounmpo is having another stellar season so far, averaging 28.9 points on 63.9 percent shooting, 10.1 rebounds and 6.1 assists per game in 17 starts.

The Bucks (8-13) have lost eight of their last 10 games after starting the season 8-5. They have fallen to 10th in the Eastern Conference and 3.5 games out of sixth place to avoid the play-in tournament.