Giannis trade talks hit holdup with Heat, Celtics in mix

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The Giannis Antetokounmpo trade situation appears to be moving slowly because the Bucks have not yet found an offer they are ready to accept.

Milwaukee has been in talks with the Heat for months, with Antetokounmpo open to signing a contract extension if he were traded to Miami, according to ESPN.

That has kept the Heat firmly in the mix, but it has not been enough to push a deal over the line.

Giannis Antetokounmpo #34 of the Milwaukee Bucks reacts on the court in the second half at Madison Square Garden in New York, Friday, November 28, 2025. JASON SZENES/ NY POST

The Bucks have reportedly continued to discuss possible packages with other teams as they weigh whether Miami’s offer is strong enough to move on from the face of the franchise.

Miami’s package has improved since the trade deadline and could be built around the No. 13 pick in next week’s NBA Draft, Tyler Herro, rotation players and prospects.

Herro would be one of the more notable pieces in a possible deal, not only because of his scoring ability but also because he is a Wisconsin native who would bring local ties to Milwaukee.

Still, the Bucks are not under pressure to take the first workable offer.

Any Antetokounmpo trade would likely reshape the team’s direction for years, and Milwaukee appears to be taking time to see whether a better package develops.

The Celtics are also viewed as a possible landing spot, with Antetokounmpo reportedly willing to sign an extension if he were moved to Boston.

Milwaukee Bucks forward Giannis Antetokounmpo #34 in a game against the Knicks at Madison Square Garden. Charles Wenzelberg / New York Post

But that route comes with complications.

Boston has typically preferred to keep major roster moves quiet and is not known for operating in trade situations where a player’s camp has a major role in the process.

Antetokounmpo and his representatives have reportedly tried to have some involvement in discussions, which could make a Celtics pursuit more difficult.

There is also the issue of what Boston would have to give up.

Any serious Celtics package could require the team to consider breaking up the Jayson Tatum-Jaylen Brown pairing, a major decision for a group that has already been built to contend.

Adding Antetokounmpo would also likely force Boston to rethink parts of its playing style, given how different his game is from the perimeter-heavy structure the Celtics have relied on.

Another factor is the possible size of the deal.

Miami Heat guard Tyler Herro #14 drives to the basket as New York Knicks guard Miles McBride #2 defends during the first quarter. Charles Wenzelberg / New York Post

If Milwaukee decides to trade Antetokounmpo, the Bucks may need a third or fourth team involved to help move players, redirect assets or manage salary. That kind of structure can make negotiations slower and harder to complete.

For Miami, the appeal is obvious. The Heat would get the superstar they have been chasing and could build around Antetokounmpo and Bam Adebayo.

For Boston, the upside would be significant, but the cost and complications would be just as large.

Mitchell Robinson #23 of the Knicks defends against Jaylen Brown #7 of the Boston Celtics during the second quarter.
Charles Wenzelberg/New York Post

For Milwaukee, the decision is about more than choosing between two offers. The Bucks have to decide what kind of return would be enough to justify moving their franchise cornerstone — and whether they are ready to start the next phase without him.

That is why the talks have dragged.

Miami has a clearer path, Boston remains a major name to watch and Antetokounmpo’s willingness to extend in either place gives both teams reason to stay engaged.

But until the Bucks see an offer they believe matches the scale of the decision, the trade saga is likely to continue.



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