Giannis traded to Heat: Everything we know about predraft blockbusterNBA InsidersMultiple AuthorsJun 23, 2026, 12:46 AM ET
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The Giannis Antetokounmpo trade saga is finally over.
The two-time NBA MVP has found a new home in Miami after 13 months of deliberation, a failed attempt by the Milwaukee Bucks to convince him the franchise can build a winner and weeks of weighing offers between two finalists.
Antetokounmpo played 13 seasons with the Bucks and led the team to the 2021 NBA championship, when he was named Finals MVP. But in the years since, he has reinforced his drive for a second championship.
The Heat have been trying to land a superstar for years but came up short in their past few attempts. Late Monday night, they finally acquired Antetokounmpo to pair with Bam Adebayo and attempt to once again join the Eastern Conference elite.
But even though the question of Antetokounmpo’s next team is settled, plenty more linger about the Heat, the Bucks and how much the NBA’s balance of power just shifted.
ESPN NBA insiders Jamal Collier, Ben Golliver, Bobby Marks and Jeremy Woo answer the biggest looming questions now that Antetokounmpo has finally been dealt. Why did Milwaukee make this move? Are the Heat legitimate title contenders now? What dominoes could fall next?
Let’s get into it.
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Why Milwaukee chose this deal
Impact on: Title race | Free agency | Draft
What’s next for Brown and Boston?
Projecting Heat for next season
Antetokounmpo forced the Bucks’ hand. For more than a year, he has made it known to Milwaukee that he did not believe the team could build a championship contender around him, and it was time for the sides to part ways. He was proven right last season, when he spent most of the year injured and the Bucks floundered to a 32-50 finish, snapping a streak of nine consecutive playoff appearances.
The Bucks resisted this move for years, trying to double down on building around the superstar who leads the franchise in nearly every major career statistical category. A month ago, Milwaukee co-owner Jimmy Haslam set an unofficial deadline before the draft for Antetokounmpo to either signal he would sign an extension in Milwaukee or get traded.
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Even as the rest of the league waited for a move over the past week, the organization waited until it was fully ready for the franchise-altering trade. And it commanded a haul of picks and players from the Heat that Milwaukee can use to build for the future. Tyler Herro, Kel’el Ware, Jaime Jaquez Jr. and Kasparas Jakucionis will all join the Bucks roster, while Bobby Portis joins Antetokounmpo in Miami.
Milwaukee has traded away a plethora of its own draft picks in recent years in an effort to contend with Antetokounmpo, but the Bucks did reclaim some draft capital going forward.
Milwaukee now has two lottery picks (Nos. 10 and 13) in this week’s draft, and it received Miami’s unprotected first-round picks in 2031 and 2033 (when Antetokounmpo will be 36 and 38 years old) as well as a pick swap in 2030 and a 2033 second-rounder, according to ESPN’s Shams Charania. And now after more than a decade of dominance from Antetokounmpo, the Bucks can build toward a new era, which begins at the draft Tuesday night. — Collier
John Fisher/Getty ImagesIs Miami a legitimate title contender now?Yes. While the Knicks are still the East’s most well-rounded contender, Antetokounmpo provides an injection of superstar talent to a Heat organization that knows how to make the most of it.After building two championship teams with LeBron James, Dwyane Wade and Chris Bosh and two Finals teams led by Jimmy Butler and Bam Adebayo, the Heat will look to get Antetokounmpo back on track after a series of injuries and years of trade rumors.
Milwaukee’s chemistry and depth suffered following its ill-fated 2023 trade for Damian Lillard, but Miami has a well-earned reputation for finding and developing role players who should make life easier for Antetokounmpo and swing playoff games.
When he has been properly supported, Antetokounmpo has consistently led 50-win teams and title contenders. Adebayo and the rest of the Heat represent Antetokounmpo’s best supporting cast since 2022. — Golliver
Even with Antetokounmpo in the fold, plenty of work remains for the Heat front office. The swap of four players for one not only opens roster spots but also heightens the importance of retaining free agent Norman Powell. But now, Miami keeping Powell comes with financial restrictions.
Because the Heat used more than 100% of the traded player exception in the deal for Antetokounmpo, they are hard capped at the first apron. Miami is a projected $18 million below, with up to five roster spots to fill.
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It is unlikely Miami can fill out the remainder of the roster with players signed to the veterans minimum while staying under the threshold and still have room to sign Powell.
To create additional flexibility, Andrew Wiggins could decline his $30.2 million player option and sign for less but with an additional season tacked on. For example, a new two-year, $45 million contract for Wiggins would put Miami $38 million under the first apron.
Besides prioritizing Powell, the Heat need to replenish their bench with perimeter scoring after losing Herro, a career 38.2% shooter from 3.
Antetokounmpo is eligible to sign an extension starting Oct. 1, but the strong likelihood is that he waits until Jan. 6, six months after the trade is completed. By waiting, Antetokounmpo would become eligible to sign a four-year, $275 million max extension. (The first year of the extension replaces his player option in 2026-27. Antetokounmpo could also opt in to his $62.8 million salary in 2027-28 and then extend for three years and $214 million.)
The Bucks now enter the draft with two lottery picks. Prior to the trade, Antetokounmpo was the only player on the roster that Milwaukee had drafted in the first round.
There is some roster balancing to do, with Milwaukee having 15 players under contract, not including both first-rounders. The Bucks also have looming decisions on Herro and Jacquez. They’re eligible to sign extensions this summer and would be free agents in 2027 if an agreement is not reached.
Myles Turner’s future should also be discussed now that Milwaukee traded for center Kel’el Ware. Signed last offseason, Turner has three years and $84 million remaining on his contract. — Marks
The intel since the draft combine has been that the Bucks are preparing for multiple first-round selections in this draft. Being able to acquire the 13th pick from Miami was a significant part of the draw for Milwaukee, a team that has done its diligence on this draft class.
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Having two picks in the late lottery also facilitates potential moves around the draft board — although it’s unclear how high they could actually maneuver, given the value teams are placing on top-10 picks.
Assuming the Bucks make both picks, the strategy should be to select their best available player at No. 10, then find a prospect to complement that player at No. 13. Another element here will be which young players Milwaukee sees as part of its new foundation, with Kel’el Ware, Jaime Jaquez Jr. and Kasparas Jakucionis all worthy of long looks in the rotation.
Milwaukee has badly needed backcourt talent and is seen as a landing spot for any of the freshman guards should they fall. Nate Ament is a name frequently linked to the Bucks if he’s available at No. 10, and they are also thought to be high on Karim Lopez. If the Bucks pick from the second tier of guards at No. 13, Christian Anderson Jr. and Labaron Philon Jr. are names to watch. — Woo
After losing out on Antetokounmpo, the Celtics do not have to do anything with Jaylen Brown, except perhaps repair a relationship that could be damaged from the failed pursuit of Antetokounmpo.
This is the second time in four years that Brown has been subject to trade discussions: first with Kevin Durant in 2022 and four years later with Antetokounmpo. Brown is under contract for the next three seasons and is eligible to sign a two-year, $141 million extension starting July 26.
The offseason priority in Boston remains shoring up its frontcourt. However, doing so likely would need to come via a trade and not in free agency. — Marks
Sixth.
It’s unrealistic to expect Miami to rip off 60-plus wins in Antetokounmpo’s first season, given his need for an adjustment period and the fact that he has played more than 70 games just once in the past seven seasons.
However, the Heat have proven they know how to manage the regular season and flip the switch in the postseason: Miami reached the 2020 Finals as the fifth seed and the 2023 Finals as the eighth seed.
Look for the Heat to focus all their energy on setting up Antetokounmpo for his first deep playoff run since 2022. — Golliver
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