Getty
Giannis Antetokounmpo reacts against the Washington Wizards during the second quarter at Fiserv Forum.
If the Milwaukee Bucks are eventually forced to consider trade possibilities involving Giannis Antetokounmpo, new reporting suggests the front office may not receive the type of franchise-cornerstone package many observers have projected, particularly from one of the league’s most frequently mentioned suitors: the San Antonio Spurs.
Although the Spurs have been widely viewed as a logical destination given their cap flexibility and draft capital, The Stein Line’s Jake Fischer reported that San Antonio has shown hesitation in parting with young guards Dylan Harper and Stephon Castle, two players believed to be central to the Spurs’ long-term plans.
“The Spurs, though, might not be the automatic Giannis destination they are routinely painted to be,” Fischer wrote.
He added that San Antonio was “unwilling to surrender the No. 2 overall pick that became Dylan Harper,” and similarly resistant regarding Castle.
Fischer noted that there has been “little indication” that the organization’s stance has changed.
Spurs Continue Patient Team-Building Strategy
GettyGiannis Antetokounmpo of the Milwaukee Bucks defends Victor Wembanyama of the San Antonio Spurs.
San Antonio’s approach reflects a long-standing organizational philosophy of measured roster development. The franchise notably refrained from pursuing veteran alternatives in recent cycles — including when Kevin Durant became available — electing instead to preserve flexibility and align its timetable with Victor Wembanyama’s trajectory.
Antetokounmpo’s age and production could theoretically fit that timeline more naturally than older stars, but Fischer’s reporting suggests the Spurs intend to evaluate any opportunity through a long-term roster framework, not simply talent acquisition.
Spurs Have Assets, but Fit and Cost Remain Separate Questions
Salary-cap expert Yossi Gozlan of The Third Apron previously noted that San Antonio possesses the infrastructure to assemble a competitive offer if it chooses to do so.
“The Spurs are well below the first apron, so they can use the 125% expanded trade exception to acquire Antetokounmpo,” Gozlan wrote. “They’d only need to send out $43.1 million to acquire his $54.1 million salary. Players like Devin Vassell, Harrison Barnes, and Keldon Johnson could help make up that amount.”
However, without the inclusion of Harper or Castle, any potential return for Milwaukee would look significantly different than early external projections. For the Bucks, that distinction may become relevant only if Antetokounmpo expresses a desire to evaluate options.
Renewed Talks of Giannis’ Future in Milwaukee
This latest round of speculation arrives as Antetokounmpo and agent Alex Saratsis have engaged in internal conversations with Bucks leadership regarding the organization’s direction, ESPN’s Shams Charania reported.
Charania wrote on X that “a resolution is expected in the coming weeks,” though no formal request has been reported.
Antetokounmpo suffered a calf strain that is expected to sideline him two to four weeks on the same night the report surfaced, adding further layers of timing to an already uncertain stretch of the season. Milwaukee earned a resilient victory over the Detroit Pistons in his absence, but the injury delays the evaluation of the team’s trajectory.
Bucks Maintain Position; Market Variables Still Unknown
As of now, the Bucks continue to operate around their two-time MVP and have not signaled a willingness to entertain trade discussions. The organization’s leverage and options — should the situation ever change — would depend on Antetokounmpo’s preferences, the number of participating teams, and how aggressively interested franchises value their young assets.
For Milwaukee, one unknown remains consistent: the market for Antetokounmpo would likely be strong, but the return package could be lower than previous star trades due to the restrictive salary cap aprons.
Alder Almo is a sports journalist covering the NBA for Heavy.com. He has more than 20 years of experience in local and international media, including broadcast, print and digital. He previously covered the Knicks for Empire Sports Media and the NBA for Off the Glass. Alder is from the Philippines and is now based in Jersey City, New Jersey. More about Alder Almo
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