New Knicks Rumors on Potential Giannis Trade Amid Karl-Anthony Towns Buzz at NBA Deadline

The New York Knicks are once again at the center of rumors regarding a potential trade for Milwaukee Bucks superstar forward Giannis Antetokounmpo.

In a followup to a report by ESPN's Shams Charania regarding Giannis' availability on Wednesday, NBA insiders Marc Stein and Jake Fischer reported Thursday on The Stein Line that the Knicks face a complicated path to acquiring Antetokounmpo before the Feb. 5 trade deadline.

Stein and Fischer noted that since the Knicks have no first-round picks to trade, they would likely need to involve a third team. "Various league insiders" have reportedly discussed the possibility of the Portland Trail Blazers being that team since they own some of the Bucks' future picks stemming from the Damian Lillard trade.

It was also pointed out by Stein and Fischer that the Knicks have "luxury tax complications" in that they are barely under the second apron.

In order to make a trade for Giannis work financially, it was indicated that they would likely have to give up two of their best players in Karl-Anthony Towns and either Mikal Bridges or OG Anunoby.

On top of that, Stein and Fischer reported that it is "unclear" if Giannis is still as interested in playing for the Knicks right now as he was this past offseason.

Charania reported that the Knicks were the only team Giannis expressed interest in playing for other than the Bucks during the offseason, and the Knicks were the only team the Bucks talked to about a potential trade.

Nothing came to pass, though, and the Bucks opted to keep Antetokounmpo in hopes of contending during the 2025-26 season.

Those hopes have been all but dashed, as Milwaukee is currently 12th in the Eastern Conference with an 18-27 record. Part of that can be attributed to injuries limiting Giannis to 30 games, but the roster does not appear to be good enough to vie for a championship even when he is healthy.

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As a result, Charania reported Wednesday that the Bucks are "starting to listen" to some of the "aggressive offers" they have received from multiple NBA teams.

Charania named the Knicks among Giannis' suitors, as well as the Golden State Warriors, Miami Heat and Minnesota Timberwolves.

At 29-18, the Knicks are second in the Eastern Conference, six games behind the first-place Detroit Pistons.

Entering the season, the Knicks were widely viewed as one of the teams most likely to represent the East in the 2026 NBA Finals, and they are firmly in contention for that distinction even without Giannis.

Led by Jalen Brunson, Josh Hart, Towns, Bridges and Anunoby, the Knicks arguably boast the best and deepest starting five in the NBA, but trading for Giannis would require them to break it up.

Of course, they would be landing a two-time NBA MVP and one-time NBA Finals MVP in Antetokounmpo, but it is fair to wonder if taking that big of a swing in the middle of the season would be a wise move for a Knicks team with championship aspirations.