Giannis Antetokounmpo is ready for a trade! Multiple teams have submitted major offers, and the Bucks have begun considering proposals.

On January 29th, Beijing time, according to reporter Shams, league sources told ESPN that the two-time regular season MVP Giannis is prepared to change teams before the February 5th trade deadline. Several teams have presented significant offers to the Milwaukee Bucks, and the Bucks have started reviewing these proposals.

League insiders revealed,all teams can clearly sense that the Bucks are unusually open to offers involving Giannis before this season's trade deadline.However, sources also pointed out that the Bucks have made it clear to interested teams: they are not in a rush to finalize a deal. If they cannot acquire a highly promising young player and/or enough draft picks, they prefer to postpone discussions about Giannis’s future until the offseason. By next summer, the Bucks can further evaluate which teams can offer more attractive draft assets.

Sources say Giannis informed the Bucks months ago that after more than 12 seasons together, he believes it’s time for both sides to part ways, making a potential trade increasingly likely.Currently, the Bucks hold an 18-27 record, ranking 12th in the Eastern Conference, facing significant uncertainty about the team’s future direction, which has prompted frank discussions between both parties. The Bucks possess a lottery pick, which is the lower of their own pick and the New Orleans Pelicans’ pick.

The 31-year-old Giannis will become eligible on October 2nd to sign a four-year supermax extension worth $275 million with the Bucks. If he chooses not to extend, he can opt out of his $62.8 million player option in the 2027 offseason and become an unrestricted free agent.

Since next season is effectively the final year of his current contract, this gives him greater leverage in deciding his trade destination. Any team willing to pay a steep price in players and picks wants assurance that he intends to stay long-term. It’s important to note that if Giannis is traded during the offseason, he must wait six months after the trade before signing a supermax extension with his new team.

When asked on January 20th if he was confident about staying with the Bucks for the rest of the season, Giannis replied, “I don’t know, I really don’t. I can only take it day by day.” After last week’s loss to the Oklahoma City Thunder, he candidly assessed the team’s current situation.

“We played without any effort,” Giannis said. “We’re not doing the right things; the goal of playing isn’t to win. The team lacks any real coordination. Our chemistry is completely off. Some players are too selfish, only looking for their own shot opportunities instead of finding the best offensive options for the team, always trying to go one-on-one.”

Bucks GM Horst, coach Rivers, and the management promised Giannis during the offseason that the team had championship potential. To sign Miles Turner, the Bucks agreed on a four-year, $108 million contract and used a stretch provision to waive Damian Lillard, absorbing his remaining $113 million contract. Yet Giannis had expressed concerns about the roster during the offseason and began evaluating his fit with other teams, including a desire to be traded to the New York Knicks if a deal could be reached. Ultimately, he chose to trust the Bucks again and committed to giving the 2025-26 season a genuine chance.

In a home loss to the Denver Nuggets, Giannis suffered a right calf strain and will miss several weeks. This injury previously sidelined him for 24 days last December. He admitted that during Friday’s game, he played most of the time injured and would not have returned if the team’s standing were better. Additionally, he missed 11 days last November due to a groin strain. To help the Bucks salvage the season, he has shortened recovery time after injuries to return early. The Bucks have gone 3-12 in games he has missed during the 2025-26 season.

Giannis initially expected to be out 4 to 6 weeks due to the injury, but coach Rivers did not specify an exact return date on Tuesday.

A 10-time All-Star, Giannis led the Bucks to their first championship in 50 years and ranks first in the franchise’s key statistical categories. In private talks, he has consistently expressed his love for the city and the team.Over the past nine months, Giannis and his agent Alex Saratsis have been discussing with Horst the best path forward for his future—whether to stay in Milwaukee or move to another team.ESPN reported on December 3rd that Giannis and Saratsis had begun talks with the Bucks about his future, with the issue expected to be resolved within weeks. Since then, as several sources noted, a consensus has gradually formed among the Bucks locker room and staff:“The decision about Giannis’s future has essentially been settled for some time.”

Sources say,the uncertainty surrounding Giannis’s future has created tension in the Bucks locker room,and the team’s internal atmosphere has become very delicate. This unease has also spread to the fanbase. In the January 13th game against the Minnesota Timberwolves, the Bucks trailed by 31 points at halftime. When fans at the Fiserv Forum booed the home team during halftime, Giannis attributed it to himself. After completing a layup in the third quarter, he even booed back at the home crowd.

In games where Giannis has played this season, the Bucks hold a 15-15 record, a winning percentage good enough for the play-in tournament. When he is absent, the Bucks’ offensive rating drops to 106.0, the lowest in the league (currently the Indiana Pacers rank last with 108.0). The difference in net rating per 100 possessions with and without him is 15 points, and the team’s performance with him on the court ranks among the league’s best.

This perfectly reflects the Bucks’ season: the team was originally built around Giannis to maximize his talents, but ultimately became a squad that cannot function properly without him.

So far this season, the Bucks rank 23rd in both offensive and defensive efficiency, joining the Brooklyn Nets, New Orleans Pelicans, Sacramento Kings, Indiana Pacers, and Washington Wizards as the only six teams with both metrics in the bottom ten.

This season, Giannis averages 29.2 minutes per game, contributing 28.0 points, 10.0 rebounds, and 5.6 assists. He leads the league in points per minute and, with a 64.5% shooting percentage, became the first NBA player in history to average 25+ points with a shooting percentage over 64%.

In 2021, Giannis led the Bucks to the NBA championship. During that playoff run, he suffered a severe hyperextension injury to his knee and missed the last two games of the Eastern Conference Finals but quickly returned to carry the team forward.

Drafted 15th overall in the 2013 NBA Draft, Giannis ranks first in Bucks history in points, rebounds, assists, blocks, and games played, and second in steals. Besides two regular-season MVP awards, he was named Most Improved Player in 2016-17 and Defensive Player of the Year in 2019-20.

From the 2018-19 to 2024-25 seasons, the Bucks posted a 368-187 record, leading the league in regular-season wins. Horst built a championship-caliber roster around Giannis with savvy moves: acquiring Holiday in 2020, signing role players before the 2021 title, and executing a major trade for Lillard in 2023. These core additions convinced Giannis to re-sign. Unfortunately, the Bucks were eliminated in the first playoff round for three consecutive seasons afterward, severely draining their draft assets and roster depth.

The Bucks tried to be buyers in this season’s trade market, but uncertainty over Giannis’s future and limited operational flexibility prevented any deals from being made.Sources reveal the Bucks primarily offered forwards Portis and Kuzma in trade talks, while clearly stating they would not part with their only tradable first-round pick(either the 2031 or 2032 pick) unless they could acquire a recognized superstar. At this June’s draft, the Bucks will hold a first-round pick plus picks in 2031 and 2033, all of which could be used as trade assets.