5 Things We're Hearing About Giannis Antetokounmpo's 2026 NBA Offseason
One of the largest storylines of the 2026 trade deadline was the fate of former NBA MVP Giannis Antetokounmpo—except nothing actually happened amidst a tumultuous and unproductive season for the Milwaukee Bucks.
Antetokounmpo has given mixed signals, in general, suggesting he wants to stay with the Bucks for his entire career, but also that he doesn't want to be on a team that needs to scrape and claw its way into the playoffs.
Given he's under contract at $58.5 million for 2026-27, are we destined for more of the same? Here's what we're hearing about Antetokounmpo's 2026 NBA offseason:
Second Verse, Same as the First
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Many competing executives were skeptical that the Bucks were actively looking to move Antetokounmpo ahead of the trade deadline. What was clearly different from the past was that the Milwaukee front office held discussions with teams that hadn't really happened before.
Still, the Bucks spent most of last season, and up until a few weeks before the deadline, focused on adding talent to play alongside Antetokounmpo. That's not expected to change, at least in the franchise's initial approach to the summer.
Milwaukee may not be able to lure enough talent to give its star player a realistic chance to contend again at the highest level, but that doesn't mean the team shouldn't pursue that path.
A brief note from history: Kobe Bryant demanded a trade from the Los Angeles Lakers, and while the team explored several options, including a possible deal with the Chicago Bulls, L.A. decided to keep their star. Later that year, the franchise lucked into Pau Gasol via trade and advanced to the NBA Finals, winning back-to-back championships after losing the first matchup vs. the Boston Celtics.
Will history repeat in Milwaukee? Probably not, but the Bucks will likely exhaust that path first before considering the alternative.
A Trade is Reasonably Likely
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While it's not the Bucks' first choice, trading Antetokounmpo this offseason has never been more likely since his arrival in the league in 2013. At least, that's what several competing executives believe.
The sense was Milwaukee used the trade deadline to gauge the market, knowing that many teams could increase their offers after the 2026 NBA draft in June. For example, the Los Angeles Lakers only had one future first-round pick (2032) to offer in February, but that climbs to three in a draft-day agreement (executed in July), when the Lakers could theoretically pick for Milwaukee in 2026, plus 2031 and 2032.
That may not be enough for Antetokounmpo, but the Lakers weren't in the conversation at all with just one first at the deadline. That logic applies to the other teams in the mix, including but not limited to the New York Knicks, Miami Heat, Minnesota Timberwolves, and Golden State Warriors.
Perhaps the more significant question is how much Antetokounmpo wants to sway the direction of a trade. If he's "forcing" a deal, does he accept any destination, or does he choose his next team and push the Bucks to comply?
Why the Extension Matters
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Given Antetokounmpo is under contract for 2026-27 with the Bucks, what exactly is his leverage to not only force a trade but also guide one to his preferred destination?
The key lies in Antetokounmpo's $62.8 million player option for the 2027-28 season. Should he decline it, the upcoming season is his last under contract with the Bucks. That's his greatest negotiating tool, the threat of leaving in a year via unrestricted free agency.
Don't trade me? I'll leave. Don't send me where I want to go; my agent will call the GM and let them know I won't stay past this coming season.
The Toronto Raptors were willing to go all-in for one year with Kawhi Leonard, and they won the title in 2019. But he didn't stay, and teams may be leery of giving up enough to appease Milwaukee for an unwilling Antetokounmpo.
Additionally, Antetokounmpo is extension-eligible as of October 1 with the Bucks. However, he won't be able to secure the maximum (perhaps adding $217 million over three additional years through 2030-31) with another team until six months after he's traded. If a deal gets done on the earliest possible date in the next salary cap year (July 6), Antetokounmpo can extend fully on January 6, 2027.
While non-binding (and technically illegal), teams and a player's agent may reach a future agreement. If Antetokounmpo makes it clear he'll only do so with a specific team and refuse all other suitors, including the Bucks, that's how he directs a trade to his preferred locale.
Presumably, that franchise will line up enough cap room in 2027-28 to be a credible threat—trade him to us now, or lose him for nothing when we sign him outright in July 2027.
Will it work? Will Antetokounmpo take it that far? TBD.
This Could Drag On Even Further
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Antetokounmpo can end this saga by agreeing to an extension with the Bucks in June (executing it in October). Barring that, and if the team decides not to trade him this offseason, it could drag into next trade deadline.
A few competing executives described this path as the worst possible scenario for the Bucks. Antetokounmpo needs to commit to staying, or the team needs to move on to the best available offer this summer, when multiple franchises have cap room, roster space, and fewer apron restrictions to make a deal.
Ahead of the draft, before general managers start trading future first-round picks elsewhere and start locking in their rosters for the year, Milwaukee needs to make the difficult decision.
Still, the possibility remains that this saga extends past the start of the season in late October and dominates conversation once again through the next deadline into February 2027. Milwaukee's leverage shrinks considerably the closer Antetokounmpo gets to the end of his contract.
There's also the injury risk, as at 31, Antetokounmpo has started to show signs that his body is slowing down (most recently, a calf issue).
If Antetokounmpo is willing to commit via extension before then, by all means, take him off the board for the foreseeable future. But if not, get a deal done in late June to execute on July 6. Closure, leaguewide, would be welcomed, so the 28-29 other teams that don't get Antetokounmpo can move on.
Rumor Section
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Rumors can be fun, but also destructive. NBA culture is built around a certain level of gossip. Take it for that, knowing that such items aren't coming from the first-hand source, in this case, Antetokounmpo.
That said, there's some buzz in the NBA that Antetokounmpo prefers the East Coast, which is closer to Greece (both by flight and, perhaps more importantly, time zone).
Additionally, some claim that Antetokounmpo misses playing with players like Jrue Holiday and Khris Middleton, who were partners in the 2021 championship run. That's not to suggest he wants to get the band back together. Still, some suggest Antetokounmpo doesn't want to play with a ball-dominant lead guard, preferring to be the primary engine driving his team's offense (Holiday and Middleton were comfortable playing without the ball around Antetokounmpo).
Do both rumors make the Lakers, a West Coast team in Los Angeles, with a high-usage guard like Dončić less likely than one like the Heat?
Time will tell how accurate...
Email Eric Pincus at eric.pincus@gmail.com and follow him on X/Twitter @EricPincus.
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