Four days before the NBA trade deadline, the tension around Milwaukee isn’t loud, it’s tight.
Phones are ringing, front offices are calculating, and one fact sits at the center of it all: Giannis Antetokounmpo is still a Buck, but the league is bracing for the possibility that might change very soon.
The key data shaping the moment is simple. Milwaukee Bucks are listening, the deadline is February 5, and teams believe the Bucks are holding out for a franchise altering return for a two time MVP who remains one of the NBA‘s most dominant forces.
Behind the scenes, clarity is starting to replace speculation, especially for the New York Knicks.
According to The Athletic, Milwaukee‘s front office has been consistent in its stance.
As reported by James L. Edwards III, the Bucks want a premier young player plus multiple high quality draft picks in exchange for Antetokounmpo.
“The Bucks are looking for a premier young player(s) and multiple, good draft picks in exchange for one of the three best players in the NBA,” Edwards III wrote in The Athletic.
“The Knicks have neither of those, and to get close to what the Bucks are asking for, New York would need to trade two or three players in its starting lineup, most likely OG Anunoby, Mikal Bridges, and/or Karl Anthony Towns.”
This news comes as a shock due to the fact that after months of buzz linking Giannis to Madison Square Garden, league executives increasingly view a Knicks deal as unlikely.
The reason is structural, not philosophical. The Knicks are operating under a second apron hard cap triggered by their use of the mid level exception to sign Guerschon Yabusele, limiting their ability to absorb additional salary.
More critically, they don’t control their own first round picks in 2027, 2029, or 2031, all of which belong to the Brooklyn Nets. The broader question hovering over New York is timing.
With the Knicks positioned as legitimate Eastern Conference contenders, league observers are skeptical the organization would risk derailing a Finals caliber season for a trade that strips both talent and future flexibility.
Other teams interested in Giannis
While New York‘s path narrows, another team has quietly moved into the picture.
According to The Stein Line, the Portland Trail Blazers have expressed interest in acquiring Antetokounmpo, fully aware that convincing him to commit long term would be a major challenge.
Portland controls Milwaukee‘s first round picks from 2028 through 2030, a rare leverage point that directly aligns with the Bucks‘ reported desire to regain control of their future.
From Milwaukee‘s perspective, that matters. A deal with the Trail Blazers could allow the Bucks to reset their draft capital while acquiring young talent, even if the immediate competitive outlook declines.
Portland, meanwhile, checks the boxes Milwaukee prioritizes, assets and picks, even if it falls short on championship readiness.
Here’s the trade off every team is weighing: Giannis Antetokounmpo is good enough to redefine a franchise overnight, but expensive enough to hinder it for a decade.
As the deadline approaches, the Bucks remain patient, the Knicks remain constrained, and Portland represents a long shot with real leverage.
What happens next may not hinge on rumors or preferences, but on which front office is willing, and able, to meet Milwaukee‘s price before the clock runs out.
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