The good news for the Los Angeles Lakers is that Giannis Antetokounmpo has entered the trade conversation.
The bad news is that, for now, they do not have the assets to meet the Milwaukee Bucks’ asking price.
According to ESPN’s Shams Charania, the Bucks have begun listening to offers for their two-time NBA MVP. However, any potential blockbuster remains contingent on an extraordinarily high return — one that exceeds what the Lakers can assemble at the current trade deadline.
“Multiple teams have received a sense that the Bucks are more open than ever to Antetokounmpo offers between now and the deadline,” Charania reported Wednesday. “However, Milwaukee has indicated to interested teams that the organization is not in a rush to complete a move and is willing to navigate Antetokounmpo’s future in the offseason if its believed price point of a blue-chip young talent and/or a surplus of draft picks isn’t met.”
That patience could shape the Lakers’ outlook.
Lakers’ Trade Deadline Limitations
GettyLos Angeles Lakers guard Austin Reaves is their best blue-chip player in a potential Giannis Antetokounmpo trade.
As currently constructed, Los Angeles lacks the draft capital Milwaukee is seeking.
The Lakers have only one first-round pick available to trade at the deadline — either 2031 or 2032 — due to prior obligations and Stepien Rule restrictions. Their most valuable young player, Austin Reaves, earns $13.9 million this season, a salary that complicates both trade matching and the perception of a “blue-chip” centerpiece.
Without multiple first-round picks or a top-tier prospect under a team-controlled contract, the Lakers are not positioned to win a bidding war in February.
Offseason Timeline Offers a Narrow Opening
Milwaukee’s willingness to wait, however, provides Los Angeles with a theoretical path.
If the Bucks defer serious negotiations until the offseason, the Lakers would regain access to as many as three first-round picks, significantly strengthening their draft package. In that scenario, Reaves could also be included via a sign-and-trade after entering unrestricted free agency.
Reaves is expected to command a salary north of $40 million annually, according to The Athletic’s Dan Woike, which would help satisfy salary-matching requirements in a Giannis deal. However, such a move would require Reaves’ cooperation, as he would have the freedom to sign outright with another team as an unrestricted free agent.
Giannis’ Contract Adds Complexity
Antetokounmpo, 31, becomes eligible to sign a four-year, $275 million supermax extension on Oct. 1. If no extension is reached, he could become an unrestricted free agent in 2027 by declining a $62.8 million player option.
That contract structure enhances his leverage in shaping where he could be traded.
“Because next season essentially serves as an expiring year on his contract, it increases his ability to position where he wants to be dealt,” Charania reported. “Any team willing to pay the steep price in both players and draft capital would want to know whether he is committed for the long term.”
If traded in the offseason, Antetokounmpo would also be required to wait six months before signing a supermax extension with his new team.
Lakers’ Cap Space Comes With Caveats
The Lakers are projected to have up to $50 million in cap room this summer, according to ESPN’s Bobby Marks, but that figure does not account for Reaves’ next contract and/or LeBron James if he re-signs.
Those variables significantly limit Los Angeles’ flexibility and complicate any pursuit of Antetokounmpo outside of a trade framework.
Giannis-to-Lakers Buzz and Preferred Destinations
Speculation linking Antetokounmpo to the Lakers dates back to December, when Fox Chicago’s Lou Canellis reported that Luka Dončić urged the franchise to explore a Giannis deal last offseason.
“I can tell you that the Lakers inquired,” Canellis said. “Luka Dončić himself inquired, trying to see if the Lakers could work out a deal with the Milwaukee Bucks.”
Still, Antetokounmpo’s reported preferences present another obstacle.
According to TrueHoop’s Henry Abbott, the New York Knicks, Minnesota Timberwolves and Miami Heat are viewed as his preferred destinations.
“One person told me that Giannis’ preferred list is three teams: the Heat, the Wolves and the Knicks,” Abbott said on the New York Post Sports podcast.
While the Lakers have their eyes on Antetokounmpo, the combination of asset limitations, competition and player preference underscores the challenge ahead. A Giannis Antetokounmpo pursuit is a long-term, high-risk play rather than a trade deadline reality for the Lakers.
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