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Giannis Antetokounmpo trade

The NBA’s biggest offseason storyline appears to be approaching a critical stage as trade discussions involving Milwaukee Bucks superstar Giannis Antetokounmpo continue ahead of the NBA Draft.

According to Marc Stein on The Stein Line, the Boston Celtics and Miami Heat remain the two teams most deeply engaged in talks with Milwaukee. While Miami had long been viewed as a leading contender, new information suggests Boston has gained significant momentum with a proposal centered around Celtics star Jaylen Brown.

The timing is notable with the NBA Draft set to begin Tuesday night. Bucks co-owner Jimmy Haslam previously identified the draft as the “natural time” for Milwaukee to decide whether to continue building around Antetokounmpo or pursue a trade that could reshape the franchise’s future.

Jaylen Brown Emerges as Centerpiece of Giannis Antetokounmpo Trade

GettyBoston Celtics guard Jaylen Brown

Stein reported that Brown has become the central piece in Boston’s pursuit of Antetokounmpo.

While details of the complete package remain unclear, Stein wrote that Brown and Boston’s No. 27 overall pick are widely viewed around the league as key components of the Celtics’ proposal. Additional players and future draft compensation would likely be required to complete any deal.

The talks appear to have advanced significantly in recent days.

“One league source, after my story published, told me that the Celtics emerged from the weekend ‘with a real shot’ to win this race with a Jaylen Brown-centric offer, adding that Milwaukee has considered going ahead even without a third-team facilitator,” Stein wrote.

The possibility of a direct deal is noteworthy because many Antetokounmpo trade frameworks discussed throughout the offseason have involved multiple teams. Stein noted that Milwaukee has shown interest in Celtics guard Hugo Gonzalez, while the Bucks would also prefer to add more draft assets alongside their own No. 10 selection.

The challenge for Boston remains balancing Antetokounmpo’s value against Brown’s contract and the additional assets Milwaukee is seeking. Brown, the 2024 NBA Finals MVP, is under contract for approximately $183 million over the next three seasons.

Stein noted that the Celtics could still explore structures involving another team to expand Milwaukee’s return, but league sources indicated the Bucks have considered moving forward without that extra facilitator.

Miami Heat Continue Pursuit as Bucks Near Draft Decision

GettyMilwaukee Bucks forward Giannis Antetokounmpo

While Boston has gained momentum, Miami remains firmly involved in discussions.

According to Stein, the Heat have pursued Antetokounmpo aggressively since February and continue to engage Milwaukee as the draft approaches.

Stein reported that Miami’s package includes Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., and the No. 13 overall pick in the upcoming draft. Additional draft assets and players could also be included, depending on the final structure.

The Heat’s proposal has received support from some around the league. Stein referenced ESPN analyst Bobby Marks, who stated during a SportsCenter appearance that Miami’s offer is currently the strongest publicly known package.

However, uncertainty remains over which direction Milwaukee will choose.

Stein wrote that rival teams across the league believe Antetokounmpo’s situation has slowed other trade activity as front offices wait for clarity. Several teams are monitoring whether Milwaukee pursues a straightforward two-team trade or builds a larger multi-team transaction.

The Bucks also face significant long-term considerations. Antetokounmpo cannot sign another contract extension until October 1, and Milwaukee must determine whether retaining him remains the best path forward.

Stein reported that few rival executives believe the Bucks will completely shut down trade discussions after allowing talks to progress this far. He also noted concerns surrounding the possibility of Antetokounmpo declining a future extension and eventually reaching free agency.

For now, the focus remains on Boston and Miami.

The Celtics’ willingness to place Brown at the center of a potential blockbuster deal has changed the landscape of negotiations, while the Heat continues pushing with a package built around established talent, young players, and draft capital.

With the NBA Draft hours away, the next move from Milwaukee could determine not only Antetokounmpo’s future, but the balance of power across the Eastern Conference.