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Giannis Antetokounmpo #34 of the Milwaukee Bucks looks on during the first half against the Chicago Bulls at the United Center on March 1, 2026 in Chicago, Illinois.

For weeks, the Miami Heat has been the leader of the race for Giannis Antetokounmpo. Many insiders deem them as the favorites to be the next squad of the two-time NBA MVP and former Defensive Player of the Year, but what if they fail to pull it off?

According to Miami Herald reporter Anthony Chiang, the Heat could just wait for next year and create enough cap space to sign Giannis without giving up any assets or another All-Star who could be available in free agency next season. 

“If they’re not able to get another All-Star caliber player, I know Heat fans don’t want to hear this, but they might just prioritize 2027 flexibility,” Chiang said in Heat Check.

Chiang said that the Heat have a space for a max player, such as Giannis, and could just have players on one-year contracts to make themselves ready for signing a superstar in the market. 

“They’re on track to have max space in 2027. Donovan Mitchell, Giannis, Nikola Jokic, are three of the guys who could become free agents in 2027. I don’t think they’ll make a move just to make a lateral move. I think they’ll fill out the roster with a bunch of one-year deals and wouldn’t sign any of these guys to extensions,” he said. 

That means the Bucks may also have to stick with Giannis for another year or possibly shop him again to other squads, who are willing to bet on the Greek Freak for at least a season.

Giannis Antetokounmpo’s Current Contract Situation

GettyGiannis has a player option for next year.

Giannis’ current contract locks him in through the 2026-2027 NBA season before getting a player option for $62.7 million in the 2027-28 season.

That scenario is unlikely with the way the Heat are being talked about on pursuing a Giannis deal, but if everything falls flat, Miami could still very well find themselves ahead in the Giannis race when the time comes next year. 

For now, they are doing their best to secure a deal with the Bucks to finally get Giannis, who has been a target for the Heat since the trade deadline in February.

Miami Heat Is Willing To Give Up Core Players, Young Assets To Get Giannis Antetokounmpo

GettyMIAMI, FLORIDA – MARCH 12: Giannis Antetokounmpo #34 of the Milwaukee Bucks drives the ball against the Miami Heat during the first quarter at Kaseya Center on March 12, 2026 in Miami, Florida.  (Photo by Tomas Diniz Santos/Getty Images)

According to NBA insider Evan Sidery, the Heat are willing to give up Tyler Herro, Kal-el Ware, and more to bring in Giannis Antetokounmpo to the team. 

“The most the Heat are currently willing to offer for Giannis Antetokounmpo: Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., Nikola Jovic, No. 13 [pick], Future 1st [round pick],” he wrote on X. “The Bucks are holding firm on needing more from Miami with their self-mandated draft day deadline only three days away.”

It comes as the Heat and the Bucks have progressed talks about the trade ahead of the 2026 NBA Draft, which was the two squads’ internal deadline, according to reports. 

“The Bucks and Heat are making significant progress towards a Giannis Antetokounmpo trade being finished,” Sidery said. “Milwaukee and Miami are haggling over inclusions of unprotected future picks and all of their prospects. The Pistons appear to be involved as a facilitator for Tyler Herro.”

Bringing Giannis would give the Heat a new star, following the departure of Jimmy Butler, who led the squad to two NBA Finals appearances.

However, the Heat may have to rebuild their roster if they successfully pull off the blockbuster trade.