Giannis Antetokounmpo trade rumors reached new heights on Wednesday after Shams Charania reported that the two-time MVP is open to finding a new home and that the Milwaukee Bucks are starting to listen to aggressive offers for him. At this point, a trade deadline move feels likely.
ESPN story on the Milwaukee Bucks starting to listen to aggressive offers on 2021 Finals MVP Giannis Antetokounmpo, who is prepared for a new home at the trade deadline or in the offseason:https://t.co/2k74KgnN4U
— Shams Charania (@ShamsCharania) January 28, 2026
And once again, the Minnesota Timberwolves are being dragged into Giannis talks. With The Athletic's Jon Krawczynski, he expects the Wolves to at least inquire about Giannis, noting Tim Connelly's history of making aggressive moves. Chris Haynes has previously reported the Wolves being in the mix for Giannis before.
Every time these rumors come up, I have a hard time believing this is a real possibility, given that the Wolves only have one first-round pick swap to trade and their high payroll. Krawczynski noted these challenges.
As such, a third team would have to be involved for a deal to work. The Portland Trail Blazers are the clear candidate given that they hold many of the Bucks' future picks. Here's what a deal could look like.
This trade isn't perfect for any team
As you can see, it's financially possible. Plus, the Blazers have been mentioned as a landing spot for Mikal Bridges in a three-team Giannis trade, so they would surely want Jaden McDaniels. Nevertheless, I don't view this trade as super realistic for several reasons.
Perhaps my main holdup with this trade would be Portland giving the Bucks their picks back. Without Giannis, those picks have immense value. Despite the Blazers getting a 25-year-old two-way stud in Jaden McDaniels and getting off Jerami Grant's deal, I don't think this trade would be worthwhile for them. Simply put, the Bucks' picks without Giannis are that valuable.
For the Bucks, Julius Randle could help them stay reasonably competitive, or they could flip him down the road, and getting their picks would be a massive advantage. Regardless, is this the best offer they could get?
The Miami Heat could offer something centered around Tyler Herro, Andrew Wiggins, Kel'el Ware, and draft capital. Wiggins could also be re-routed to Portland, and the Bucks could end up getting their picks back. Moreover, there's always the allure of the Golden State Warriors' future picks.
My point is that the Bucks have multiple options that would likely top this package.
As for the Wolves, pairing Giannis with Anthony Edwards is certainly a possibility they should pursue, and hypothetically, a package like this is something they'd have to consider. Even still, I don't think this would be enough to get a deal done, nor do I think this would be a no-brainer decision for Minnesota.
The Wolves significantly lack depth and point guard play -- something that they wouldn't solve in this trade. Additionally, despite Giannis' greatness, he's an injury-riddled 31-year-old big man, which is a clear risk when you're giving up your second and third best players.
I'm not saying the Wolves shouldn't do this trade (if it's on the table, which is unlikely in the first place), but there would still be factors to consider.
Ultimately, there are too many moving parts for a Giannis-Timberwolves trade to come to fruition.