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Jun 23, 20263
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Bucks Trade Giannis Antetokounmpo to Heat in Blockbuster Rebuild Move
The Milwaukee Bucks traded Giannis Antetokounmpo and Bobby Portis to the Miami Heat, ending the two-time MVP's 13-year career with the franchise. The Bucks receive multiple players and draft picks, while Miami gains a superstar despite Antetokounmpo's injury concerns. The move signals a rebuild for Milwaukee and reflects the modern NBA's emphasis on aggressively pursuing championship opportunities.
Quick Facts
Who
Giannis Antetokounmpo
What
Trade agreement completed between Bucks and Heat
When
June 23, 2026
Where
Milwaukee
- Trade agreement completed between Bucks and Heat
- Antetokounmpo played only 36 games last season
- Lillard waived after Achilles injury in 2025 playoffs
- Bucks completed 32-50 season, missing playoffs
- Heat completed Antetokounmpo trade despite rival Boston's offer
The Milwaukee Bucks have agreed to trade two-time NBA MVP Giannis Antetokounmpo and forward Bobby Portis to the Miami Heat on the eve of the 2026 NBA draft, ending the 31-year-old's 13-year tenure with the franchise. In return, the Bucks receive Tyler Herro, Jaime Jaquez Jr., Kel'el Ware, Kasparas Jakucionis, the 13th overall pick in the draft, a first-round pick swap in 2030, and first-round selections in 2031 and 2033, plus a second-round pick in 2033. The trade marks a dramatic turning point for both franchises and concludes one of the most storied careers in Milwaukee sports history.
Antetokounmpo transformed the Bucks from basketball obscurity into championship contention over his 13 seasons. Selected 15th overall in 2013 as an 18-year-old from Greece, he matured into one of basketball's elite players, winning MVP awards in 2019 and 2020 and delivering the franchise its first title in 50 years in 2021. That year, he scored 50 points in the championship-clinching Game 6 victory over the Phoenix Suns and earned Finals MVP honors. However, the team's inability to sustain success after the title—including a recent 32-50 season and first-round playoff exit in 2025—prompted the organization to consider a rebuild.
Milwaukee's path to this decision was complicated by previous aggressive roster moves. The Bucks traded multiple first-round picks to acquire Jrue Holiday in 2020 and Damian Lillard in 2023, moves designed to keep Antetokounmpo satisfied and maintain championship contention. Lillard's Achilles injury in the 2025 playoffs led to his waiver, and the Bucks signed Myles Turner as a replacement. Yet these transactions left the franchise without first-round picks in 2027 and 2029, making a rebuild without premium draft capital particularly challenging. New coach Taylor Jenkins, hired in April after Doc Rivers' departure, acknowledged the possibility of retooling when accepting the position.
The Heat's aggressive pursuit reflects the modern NBA's emphasis on capitalizing when superstar opportunities arise. Despite Antetokounmpo's age and injury history—including calf strains and playing only 36 games last season—Miami determined that the risk was worth the potential reward in an era marked by parity, with eight different champions crowned in the past eight seasons. The deal also carries competitive implications for Boston, which reportedly offered Jaylen Brown in a rival bid for Antetokounmpo. Brown reacted to the news by posting cryptic messages about doubters fueling his determination, suggesting frustration that the Celtics had been willing to trade him.
For Milwaukee, the trade signals a lengthy rebuilding process. The franchise now holds lottery picks 10th and 13th in the 2026 draft, making the selection and development of young talent crucial to their recovery. Coach Taylor Jenkins faces the challenge of rebuilding a roster around younger players while managing the emotional toll of losing a beloved franchise icon. Antetokounmpo's departure removes one of Wisconsin's most cherished sports figures, commemorated by a massive 53½-by-56½-foot mural in downtown Milwaukee.
Why This Matters
This trade reshapes championship dynamics in the Eastern Conference and signals how modern NBA franchises prioritize aggressive pursuit of superstars over long-term sustainability. For fans and analysts, it demonstrates the limits of drafting and developing talent when sustained roster construction fails—even with an all-time great player. For Milwaukee, the rebuild ahead requires expert talent evaluation and player development. For the Heat, Antetokounmpo's arrival creates an immediate contender, though injury risk and salary cap constraints present real challenges. The deal also affects other franchises' strategies, especially Boston's missed opportunity with Jaylen Brown.
Timeline & Sources
Jan 1, 2013
WireGiannis Antetokounmpo selected 15th overall in NBA draft by Milwaukee Bucks at age 18
Jan 1, 2019
WireAntetokounmpo wins first NBA MVP award
Jan 1, 2020
WireAntetokounmpo wins second consecutive MVP award
Jan 1, 2021
WireAntetokounmpo leads Bucks to NBA title, winning Finals MVP
Jan 1, 2021
WireBucks win NBA championship; Antetokounmpo scores 50 points in Game 6 Finals and wins Finals MVP
Jan 1, 2023
WireBucks acquire Damian Lillard via trade, giving up multiple first-round picks
Jan 1, 2025
WireDamian Lillard tears Achilles tendon in first-round playoff loss to Indiana; subsequently waived by Bucks
Jun 23, 2026
WireBucks agree to trade Antetokounmpo and Portis to the Heat for Herro, Jaquez Jr., Ware, Jakucionis, and draft picks
Entities
- Milwaukee
- Miami
- Inter Miami
- Jaime Jaquez Jr.
- Phoenix Suns
- New York Knicks
- Giannis Antetokounmpo
- Greece
- Kel’el Ware
- Jrue Holiday
- Kasparas Jakucionis
- Milwaukee Bucks
- Indiana Pacers
- Miami Heat
- Los Angeles Lakers
- Florida Panthers
- Jaylen Brown
- Wisconsin
- Tyler Herro
- Damian Lillard
- Taylor Jenkins
- Boston Celtics
- Bobby Portis
- Myles Turner
- Pat Riley