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NEW YORK, NEW YORK - DECEMBER 25: Giannis Antetokounmpo #34 of the Milwaukee Bucks talks to a teammate during the first quarter of the game against the New York Knicks at Madison Square Garden on December 25, 2023 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Rich Graessle/Getty Images)

The Miami Heat awaits eagerly as the Milwaukee Bucks decide what to do with Giannis Antetokounmpo.

According to numerous reports, the Heat’s offer to the Bucks for Antetokounmpo continues to sit on the table and, with the NBA Draft quickly approaching, it feels like the news of blockbuster trade could happen at any moment. 

The Heat’s pursuit of Antetokounmpo stretches back ahead of the trade deadline in February, where reports say Miami made an offer similar to the trade package it has submitted now that the Bucks had some interest in. 

With the Boston Celtics also reportedly in the fray, the Antetokounmpo sweepstakes appear to feature two realistic suitors — but which one will come away with the two-time NBA MVP?

Miami Heat Gaining Momentum in Looming Blockbuster

GettyPHILADELPHIA, PENNSYLVANIA – MARCH 29: Tyler Herro #14 of the Miami Heat talks to Kel’el Ware #7 against the Philadelphia 76ers in the first half at the Wells Fargo Center on March 29, 2025 in Philadelphia, Pennsylvania. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this photograph, user is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Mitchell Leff/Getty Images)

According to NBA insider Evan Sidery, the Heat have enlisted two partners to facilitate a deal for Antetokounmpo. 

With the Bucks reportedly seeking a surplus of draft capital, and given the many critical factors in a large-scale trade that must be considered (salary-matching being one), any Antetokounmpo trade scenario would likely involve as many as three or four teams. 

“Serious momentum is picking up behind the scenes related to a Giannis Antetokounmpo trade,” Sidery reported on X. “The Heat have secured at least two known teams ready to help facilitate a deal with the Bucks.”

Sidery also reported the Bucks have requested the following draft assets from the Heat: the No. 13 pick in this year’s NBA Draft, two unprotected future first round picks, unprotected future pick swaps and additional pick assets via facilitating teams involved in an Antetokounmpo trade.

In early May, Bucks co-owner Jimmy Haslem revealed the franchise seeks to make a decision on Antetokounmpo’s future before the draft, which is now in just five days. 

Given the Heat’s apparently growing momentum in its pursuit of Antetokounmpo, Sidery writes, “It would be a surprise if this isn’t completed by Milwaukee’s self-mandated draft deadline.”

The Orlando Magic and Portland Trail Blazers have been floated as interested suitors for Antetokounmpo, but both franchises face major stumbling blocks in making an offer for the two-time MVP, starting with doubts about Antetokounmpo’s long-term commitment. 

Milwaukee Reportedly Not Enamored With Miami’s Offer, But a Trade Still Very Much Possible

GettyATLANTA, GEORGIA – APRIL 18: Bam Adebayo #13, Tyler Herro #14 and Kel’el Ware #7 of the Miami Heat react against the Atlanta Hawks during the third quarter of an NBA play-in tournament game on April 18, 2025 in Atlanta, Georgia.

A point that has been maintained by multiple sources is that the Bucks aren’t exactly blown away with what the Heat have to offer. 

On Thursday, ESPN’s Brian Windhorst reiterated that.

“From what I am told,” Windhorst began, “the Bucks have yet to receive an offer they’re willing to accept for Giannis Antetokounmpo, which is somewhat mirroring what happened at the trade deadline last February.”

In a potential trade for a player of Antetokounmpo’s caliber, bidding teams typically have that one home run asset in the form of a superstar. Of the Heat and Celtics, the top two reported frontrunners for Antetokounmpo, only Boston fits that billing. 

Yet the Heat appear to hold the edge over the Celtics because of a combination of two factors: Milwaukee’s desire for heavy draft capital (which Miami can offer) and the Bucks’ reported disinterest in Boston’s Jaylen Brown, who would likely be the centerpiece of any Celtics trade package.

Windhorst also reported the Heat can dig deeper into their arsenal to offer the Bucks for Antetokounmpo but have yet to do so. That could mean Miami is willing to put forth a heavier trade package for Antetokounmpo if the Bucks insist on receiving more assets.