The trade market rarely waits for certainty. With the February 5 deadline approaching, one reality is already shaping front-office behavior across the league. Giannis Antetokounmpo may be available, and teams are preparing accordingly. That includes the Golden State Warriors, who have now made their position clear through league channels.

According to reporting cited by Anthony Slater and amplified across league circles, Golden State is willing to surrender every first-round pick it can legally move through 2032 in a Giannis deal. That includes unprotected first-round picks in 2026, 2028, and 2032, plus a 2030 first-rounder that would convey if it falls within the top 20. Because of Milwaukee’s existing pick obligations, only one additional pick swap would be available.

In addition, the Warriors are prepared to include Jonathan Kuminga and Brandin Podziemski, along with the necessary salary matching. This is not a casual inquiry. It is a structured, all-in offer built around draft capital and young rotation players.

Golden State has spent years protecting its post-Stephen Curry future. That restraint was intentional. General manager Mike Dunleavy Jr. acknowledged as much when explaining how the organization values picks that fall beyond Curry’s prime. “It would take a good amount to move the post-Curry picks,” Dunleavy said. “But if there’s a great player to be had, we’ve got everything in the war chest that we would be willing to use.”

Giannis fits that definition. At 31, he offers immediate contention value and long-term franchise stability. However, Golden State is not alone in preparing a response.

3. Atlanta Hawks could be a viable destination for Giannis Antetokounmpo

The Atlanta Hawks have an outside chance of making a move for the Greek Freak, as they have the controlling rights for the Bucks’ future picks. So if Giannis is traded to Atlanta, then the Bucks can instantly start their rebuild and also remain competitive by securing a strong prospect from this year’s draft.

Along with that, the Hawks have traded their talisman, Trae Young, to Washington, and need someone who could be the face of the franchise. They have a bunch of talented young players who can be included in the trade package. The Bucks may ask for Jalen Johnson, but it is highly unlikely that the Hawks will be open to trading him away, even for the star forward.

They may instead include last year’s No. 1 pick, Zaccharie Risacher, who hasn’t kicked off things in the NBA but is still a superb talent. Additionally, Kristaps Porzingis could also be included in the deal, and his big expiring package could help the Bucks. The Hawks have three unprotected first-round picks, a protected first-round pick, and several pick swaps, which they can include in this deal to lure Giannis to Atlanta.

2. The Miami Heat could offer talented young players in exchange for Giannis Antetokounmpo

While picks will surely be crucial for the Bucks in their rebuild post the Giannis trade, they also need players who could possibly keep them competitive in the league. The Miami Heat could offer a bunch of young players, along with picks, to lure Giannis.

The Heat could potentially build their package around Tyler Herro, who is a Wincousin native and is a player who could potentially be the face of the Milwaukee Bucks for the next few years. He is only 26 and a one-time All-Star, and though he isn’t anywhere close to Giannis’ level, Herro has shown promise. Recently, he has suffered injuries and struggled to stay fit, but he could surely be a useful player for the Bucks.

Meanwhile, Jaime Jaquez, Kel’el Ware, Nikola Jovic, and Pelle Larsson have all shown great potential and could be included in the package. There’s some hype around Kel’el Ware as he has a high ceiling and could be an excellent option in this trade. The Heat could also throw in two first-round picks and three pick swaps to sweeten the package.

1. New York Knicks may also be in the mix for the Greek Freak

The New York Knicks have emerged as one of the contenders for the title this season as they are playing really well and are second in the East. However, they still have issue sin defense, and that is mostly due to the way their roster is structured around Jalen Brunson and Karl-Anthony Towns. Therefore, the Knicks may definitely look to push for Giannis Antetokounmpo’s trade as it would instantly elevate the roster, solving their defensive woes.

Also, there have been reports about Giannis’ interest in moving to New York. So there’s some kind of preference in there, but the Knicks need to put up a package to fight with the other teams.

The Knicks lack the draft assets like the Warriors or the Heat, as they only have a solitary first-rounder. But they have a bunch of quality players whom they can let go in exchange for Giannis. The package will most definitely be built around Karl-Anthony Towns, with players like Mikal Bridges and OG Anunoby also in contention of leaving New York.

Towns will get close to Giannis’ salary, and they could include Bridges and Anunoby in the package, and the Bucks may have to add Kyle Kuzma to match both ends. However, the best way to sort things for the Knicks would be to rope a third team into the mix. Bridges has plenty of suitors in the market, so the Knicks could trade him for draft assets, which could directly go to the Bucks along with KAT. It is a little complicated and will also affect the depth of the Knicks, but given that they secure a superstar player like Giannis, they may surely give it a shot.

However, the existence of a fully formed Warriors offer changes the market. It establishes a benchmark that other teams must meet or exceed. If no package clears that bar by February 5, this conversation likely extends into the offseason. If one does, the balance of power in the league shifts immediately. Either way, Golden State has already made its move.