Giannis Antetokounmpo has a series of suitors. Experts believe the Golden State Warriors fit the Greek star best. However, the Miami Heat are just as strong a contender. In fact, Miami, too, like the Dubs, has assets to give to the Milwaukee Bucks in exchange for Giannis. But they need to make a move before Thursday’s 3 p.m. NBA trade deadline or wait until the offseason.

Interestingly enough, according to insider Ethan Skolnick, a couple of people inside the Bucks organization reportedly like the Miami Heat’s potential offer for Giannis. The Miami Heat can headline a serious proposal by putting forward Kel’el Ware ($4.4M), a rising prospect already making noise across the league. He ranks third in the NBA in rebounds per 36 minutes at 14.7. Moreover, he sits second among all NBA centers in three-point accuracy at 41%, trailing only Denver Nuggets star Nikola Jokic.

Meanwhile, league expectations suggest Miami would expand the package significantly. The projected deal features Ware alongside Tyler Herro ($31M) and Terry Rozier ($26.6M) with his expiring contract. In addition, the Heat would include at least one more young contributor, plus first-round selections in 2030 and 2032.

Many around the league believe Miami could add pick swaps in 2026, 2029, and 2031. Thus, strengthening the team’s aggressive push and long-term commitment to landing a franchise-level star. Now, Giannis Antetokounmpo earns $54.1 million this season and holds major leverage. He can lock in a four-year $275 million max extension in October.

However, another team can present that deal only if a trade happens before the deadline. If a move comes later, he must wait six months. He also carries one guaranteed year at $58.4 million, plus a $62.8 million player option for 2027-28. Meanwhile, the Miami Heat face a tight financial picture for 2025-26. Their total salary commitments sit near $198 million, leaving roughly -$43 million in flexibility.

Even so, Miami still has about $7.2 million before the first apron and $19.0 million before the second. Therefore, a Giannis trade remains possible, though it demands precise salary matching, major outgoing contracts, and a bold front office call.

Constraints to trade for Giannis Antetokounmpo: The  Miami Heat troubles

League rules limit how far ahead franchises can move draft selections, while also blocking deals that erase picks in back-to-back seasons. As a result, the Miami Heat face a narrow path when structuring a strong proposal. Therefore, to improve their chances and raise the appeal of any package, Miami may have to secure an additional premium draft asset before approaching the Milwaukee Bucks.

“They can trade two firsts as of now and some swaps,” NBA insider Zach Lowe said on his show. Meanwhile, Howard Beck said, “The Hawks have the ultimate trump card because they have control of that Bucks-Pelicans swap. But maybe two picks and some swaps plus good players, Herro, Wiggins, whatever.”

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The Atlanta Hawks control the stronger 2026 first-round selection between the Milwaukee Bucks and the New Orleans Pelicans, a result of a swap clause tied to the Jrue Holiday deal from 2020. Meanwhile, struggles from both teams during the 2025-26 season have boosted the worth of that pick.

Thus, there are various ways in which the Miami Heat can aggressively pursue the two-time MVP. However, assets, picks, and swaps are making this story a bit too complex. Moreover, the Warriors remain in the top spot. Most importantly, the Bucks wouldn’t settle for anything else in exchange for their biggest star.