New Giannis Trade Rumors on Thunder's Pursuit and How Bucks Star's Contract Influences Landing Spot

Despite a disappointing playoff loss to the San Antonio Spurs in the Western Conference Finals, the Oklahoma City Thunder don't appear inclined to dramatically shake up their roster by trading for Giannis Antetokounmpo.

Per NBA insider Jake Fischer, the feeling among people with knowledge of the Thunder's thinking "continue to dismiss them as a legitimate Antetokounmpo suitor."

One reason cited by Fischer is Oklahoma City general manager Sam Presti has not historically traded away significant capital to add talent, particularly considering Antetokounmpo will turn 32 in December and is coming off an injury-plagued season.

Fischer did note Antetokounmpo is expected to have a "significant say" in where he does end up if the Milwaukee Bucks trade him because his $62.8 million player option for the 2027-28 season gives him a level of control:

"As it stands Antetokounmpo is owed $120-plus million over the next two seasons, including a $62.8 million player option for 2027-28. That option, of course, is the lever that has convinced numerous league observers that Antetokounmpo will have a significant say when it comes to his ultimate trade destination … as well as the ability to dissuade any potential suitors if he deems a particular landing spot or two undesirable."

The Thunder popped up as a potential Antetokounmpo suitor primarily because of Chet Holmgren's struggles against the Spurs.

It would be a good match in theory because Holmgren is a young star player who would give the Bucks a building block if they trade away their franchise icon, but it would also dramatically accelerate Oklahoma City's long-term outlook.

Alex Caruso and Kenrich Williams were the only Thunder players over the age of 30 this season. Of their top eight players in scoring average, Shai Gilgeous-Alexander, Isaiah Joe, Aaron Wiggins and Isaiah Hartenstein were the oldest in their age-27 seasons.

This offseason will be interesting for the Thunder because they are one of only two teams projected to be over the second apron going into 2026-27. Their $250.6 million in apron allocations is the highest in the NBA.

The rookie max extensions for Holmgren and Jalen Williams kick in, giving the Thunder three max salaries. They could get under the second apron if they decline Hartenstein's $28.5 million team option, but they don't have an obvious replacement for him on the roster right now.

Antetokounmpo has been most-frequently linked to the Miami Heat, though The Athletic's Sam Amick pointed out the two-time NBA MVP would have some "questions" about what their roster would look like after a deal got done.

Amick also cited the Boston Celtics as an "intriguing option" for Antetokounmpo. The New York Knicks and Portland Trail Blazers are considered unlikely destinations.

There will certainly be a long list of potential suitors for Antetokounmpo, but his contract and the option year might end up hurting the Bucks' negotiating leverage as they try to secure a franchise-changing return.