Heat & Bucks Updated Salary Cap, Depth Chart, NBA Draft Picks After Blockbuster Trade

After months of deliberation, Giannis Antetokounmpo is on his way out of Milwaukee.

Per ESPN's Shams Charania, the Bucks traded the two-time MVP and the face of their franchise to the Miami Heat. The Heat also landed Bobby Portis.

In return, Milwaukee received Tyler Herro, Kel'el Ware, Jaime Jaquez Jr., Kasparas Jakucionis, three first-round picks, one pick swap and one second-rounder.

By trading Antetokounmpo, the Bucks shed his $58.45 million salary for the 2026-27 campaign. The Heat will pick up Antetokounmpo's contract, which holds a player option for 2027-28, though he is also eligible for a lofty extension.

Here's a look at the two teams' updated depth charts:

Miami Heat 2026-27 Depth Chart

• PG: Davion Mitchell, Dru Smith
• SG: Norman Powell, Pelle Larsson
• SF: Andrew Wiggins, Simonne Fontecchio
• PF: Giannis Antetokounmpo, Nikola Jovic
• C: Bam Adebyo, Bobby Portis

Milwaukee Bucks 2026-27 Depth Chart

• PG: Ryan Rollins, Kasparas Jakucionis
• SG: Tyler Herro, Kevin Porter Jr., AJ Green
• SF: Kyle Kuzma, Jaime Jaquez Jr., Ousmane Dieng
• PF: Pete Nance
• C: Myles Tyrner, Kel'el Ware

The trade saga between Antetokounmpo and the Bucks dates back to last summer when it appeared the two sides were weighing a possible split. Things picked up towards the end of the 2025-26 campaign, however, and all signs pointed to him being dealt before the NBA draft on Tuesday.

On Monday, Charania reported that it was down to the Heat and the Boston Celtics.

While the Heat ultimately won the sweepstakes, it wasn't due to a lack of a strong offer from the Celtics. Charania reported that Boston's offer included former Finals MVP Jaylen Brown, along with two first-round picks.

The trade, as it stands now, is a one-to-one deal, but Charania added that since the deal won't be executed until July 6, it leaves the framework open to see if there are opportunities to expand.

The current package to Milwaukee allows the Bucks to expedite the rebuild it was facing with Antetokounmpo on his way out.

The 2021 champs landed a former All-Star and Sixth Man of the Year in Herro. Jacquez was a runner-up for Sixth Man of the Year last season after a career year. Ware, the 15th overall pick in 2024, averaged more than a block per game last season and will help fill the void left by Portis.

The Bucks also got an abundance of future picks that will help them build for the future.

The trade continues Pat Riley's long-standing approach to bringing stars to Miami. The Heat immediately become one of the favorites to make it out of the East and avoid the dreaded rebuild they were potentially facing.

The goal now for Miami is to extend the 31-year-old Antetokounmpo to keep him in a Heat uniform for the remainder of his prime.