There is an air in the NBA that often rings with speculation. At least, that’s what the Milwaukee Bucks need to think about as the Giannis Antetokounmpo plot thickens for them after letting Lillard go. Developments and silence leave the fans with yet another question: what’s next? Giannis (maybe) is locking himself in for the coming season. But the next two after that? Reports say that Rob Pelinka has his hawk’s eye set on the two-time NBA MVP, and some also believe that the New York Knicks are taking rigorous measures to make space in their wallets for the superstar forward. But are the Bucks ready?

The Greek Freak may want a trade or explore other options because he wants a ring, and the Bucks aren’t winning any lately. But moves to the Lakers or the Knicks won’t come easily. Such dreams come with a price, and an expensive one. Moreover, if you were to believe that the Bucks and Giannis wouldn’t make a move at least for this season, then is there a deadline that guarantees it?

Is there a point of no return for Giannis Antetokounmpo that seals his fate with the Bucks for this season?

NBA insider Shams Charania pulled up with Kyle Wallace, Ben Brust, and Brad Nortman on KBN, stirring the pot on Giannis Antetokounmpo’s Milwaukee fate. Could the Greek Freak pack his bags this late in the summer, or will he drop the mic with a commitment? The clock ticks and the city waits. Now, the Bucks fans have been holding their breath all summer, wondering if Giannis will stay. When will Giannis lock in and let Milwaukee exhale, or will suspense keep the city sleepless? Charania had an answer.

“I think right up until training camp. Figuring out, at least for me, is when I’m told Giannis Antetokounmpo is good. He is 100% good from every single avenue, every single side that I trust and rely on. That’s when I’ll be comfortable,” Shams Charania informed. “Of course, you would expect that to come by the opening day of training camp, if not a little bit before that.” At the same time, the senior NBA insider also pointed out something important.

“But during the season,” he said, “it’s really just a matter of every year, every day that goes by, you’re getting closer to the end of Giannis’s contract.“ Charania added, “He’s got this upcoming season, then he’s got one year after that, and then he’s got a player option. So, essentially, by next summer, he’s going to be entering the last year of his deal because the following year is a player option.”

So, if the Milwaukee Bucks struggle next season, Giannis will gain major leverage by next summer. That power could let him decide his next destination. In 2023, Giannis Antetokounmpo penned a three-year, $175M masterpiece with Milwaukee, fully guaranteed, averaging $58M a year. By 2025-26, he earns $54M in base salary, matching his cap hit, while the dead cap trails slightly at $54M. Now he has inked a richer three-year, $186 million extension, nearly $62 million per year, with a 2027-28 player option.

So, 2027 could reshape both the Bucks’ future and the 30-year-old star’s. Sure thing, Antetokounmpo is busy preparing for EuroBasket 2025 for Greece. However, his name and aura haven’t left the NBA scenes. And the biggest fear looming large for the Bucks is the assets they could get in exchange for their biggest star. Thus, another question arises: If Giannis ever asks out, how does a team land him without gutting its soul?

How does a team trade for Giannis?

Say, if Giannis ever demands he wants out, how can a team grab him without draining every drop of its future? With Mikal Bridges going for five first-rounders at the Knicks, the price is wild. But if the cupboard is empty, how does the Greek Freak still storm toward a championship? Is there a magical middle ground where a blockbuster deal still leaves Giannis Antetokounmpo surrounded by championship firepower? Can the Bucks pull off a trade that brings in the right weapons without dimming the spotlight? The puzzle is mouthwatering.

“Whether it’s Kevin Durant being traded a couple of years ago, whether it’s Mikal Bridges being traded,” Shams Charania said. “Even Rudy Gobert got traded, like Rudy Gobert and Mikal Bridges getting traded for all those picks, didn’t really net any players back in either deal. You’re really just trading for the picks.”

Before 2024-25, the Knicks pried Mikal Bridges from the Nets for five first-rounders. Three years earlier, Rudy Gobert cost the Timberwolves four firsts and a 2026 swap. The Nets also grabbed two seconds in the Durant deal, then landed Michael Porter Jr. plus a first from Denver this offseason, in the seven-team trade that sent KD to Houston. Thus, with limited draft control in the coming years, the Bucks face a burning question: chase competitiveness now or gamble big in a blockbuster, like Dallas flipping Luka Doncic for Anthony Davis. These talks have been brewing on both sides since the season wrapped, and the stakes keep rising.

So, the Giannis watch is no ordinary summer drama. It is a slow burn, a high-stakes tease, and a city’s heartbeat on a loop. The Bucks juggle loyalty, leverage, and looming deadlines while rivals circle with pick-stuffed offers. One twist could lock him in. Another could send him packing. And somewhere in between, the future waits.