Speculation about Giannis Antetokounmpo’s future with the Milwaukee Bucks was reignited earlier this offseason after reports from NBA insiders signifying that the All-Star was considering a future with the New York Knicks. While Giannis has reaffirmed his commitment to the Bucks multiple times in the past, perennial whispers of potential trades keep this conversation alive.

NBA analyst and Knicks insider Ian Begley recently gave his take on the potential trade. On the Zach Lowe Show, he said, “I don’t think that even crosses anyone’s mind in a serious way… the Knicks got crushed for offering that money [to Brunson].” He referred to the summer of 2022, when the Knicks made a series of moves to open up cap space, including losing Taj Gibson and Kemba Walker, to offer Jalen Brunson a four-year, $104 million contract, a move that was looked at skeptically at the time.

Begley praised the Knicks’ front office, “This was a make-or-break moment for Leon Rose and the franchise, and it worked out spectacularly.” Lowe chimed in, saying, “He’s a hero here.” These comments show how integral Jalen Brunson is to the Knicks and their current structure, and why a trade would be unlikely. “I don’t think there’s a world where the Knicks even think about trading Jalen Brunson for Giannis Antetokounmpo in this window right here where they’re in.”

However, the man himself might see things differently. Speaking to reporters, Giannis publicly clarified his stance; one of commitment while signaling openness to change. “I want to be in situations that I can win. And now I’m here, I believe in this team…Moment I step in this facility…rest doesn’t matter–I’m locked in.”

He added, “Now, if in six, seven months I change my mind, I think that’s human too. You’re allowed to make any decision you want.”

On paper, the Knicks are deeper than ever: Brunson orchestrating, wings like Anunoby/Bridges clamping defenses, and Towns stretching the floor. They reached the ECF in 2025 beating Boston 4-2 in semis without Giannis, proving they’re not desperate.

But this “all-in” core leaves no margin for error. Losing Hartenstein (to OKC on a three-year, $87M deal) exposed rim protection issues, and non-guaranteed deals for bench pieces like Malcolm Brogdon or Jordan Clarkson don’t move the needle for a superstar swap.

Ironically, these moves attracted Giannis- he saw a ready-made contender in New York, per Charania’s sources. But, acquiring him now would require parting ways with at least two starting-level players, dismantling the very depth that made MSG a dream destination. Free agents aren’t lining up to take discounts in a second-apron purgatory, either, limiting future tweaks.

While Milwaukee remains Giannis’ home for now, it must be noted that the Knicks have minimal draft capital and cap space, hindering their ability to assemble a package that the Bucks may find compelling. Even with Jalen Brunson as a centerpiece, landing a talent like Giannis would likely need years of planning and maneuvering.

Knicks-Bucks Trade Possibilities Examined

This summer, Giannis reportedly considered his future outside of Milwaukee for the first time, and the only possible suitor, to him, was the Knicks. “Every summer, there’s truth to every report,” Giannis said. “I want to be on a team that allows me, gives me a chance to win a championship, and wants to compete at a high level… it’s pretty much the same. It’s not the first time.”

Giannis’ incoming salary requires outgoing pieces like Towns or Anunoby/Bridges/Hart combinations, but the apron forces complexity. Extending Bridges to a four-year, $150M deal on July 31, 2025, added a six-month trade ban (until January 2026), further handcuffing them during peak rumor season.

As CBS Sports’ Sam Vecenie pointed out, this “never quite closed the door” on Giannis but made opening it exponentially harder- New York couldn’t pivot quickly without violating apron rules or waiving depth players.

A hypothetical package might start with Bridges + Anunoby + a protected second to Milwaukee, but without picks, it’s underwhelming. Adding Towns risks gutting the frontcourt, and Brunson is off-limits. The Bucks, per league sources, weren’t seriously entertaining offers anyway- but the Knicks’ constraints ensured they couldn’t test that bluff.

According to veteran insider Shams Charania, Bucks GM Jon Horst met with Giannis and his agent in Greece to address the team’s future and any frustrations Giannis has faced. Giannis’ camp evaluated interest from many teams, but the Knicks were the only serious contender in his eyes.

However, according to ESPN, discussions about a potential trade never gained traction. The Bucks felt the offer wasn’t good enough, and the Knicks thought the Bucks never intended to finalize a deal.

From a strategic perspective, any trade involving Giannis would dramatically change both franchises. The Knicks would be ruining the chemistry built around de facto leader Jalen Brunson and any built-up continuity.

Meanwhile, the Bucks would be faced with an immediate rebuild without ownership over their own picks due to previous trades, propelling them into an era of basketball without any real results.