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If and when the Milwaukee Bucks open up trade talks surrounding Giannis Antetokounmpo, the San Antonio Spurs will be able to put together the best trade offer of any team in the league. Whether or not they will make Antetokounmpo’s potential list of preferred destinations is yet to be seen, but they have an offer that would make the Bucks drool.
A package that includes a couple of solid young players and some very valuable first-round picks would be perfect for what the Bucks should be looking for. And if the Spurs think that would be worth it, then maybe, just maybe, they would pull the trigger.
But what would the full trade look like?
Here’s the Spurs’ best trade offer for Giannis Antetokounmpo
Here is what a potential Spurs trade package for Antetokounmpo could look like (at least, the best potential deal they could/would be willing to throw at the Bucks):
Spurs receive: Giannis Antetokounmpo
Bucks receive: De’Aaron Fox, Stephon Castle OR Dylan Harper, 2026 first-round swap with ATL, 2027 first-round pick (via ATL), 2028 first-round pick (via BOS, top-1 protected), 2031 first-round swap with SAC
First and foremost, Fox isn’t trade-eligible until February 4, 2026, so this deal would have to wait a couple of months (and perhaps that isn’t something Antetokounmpo or the Bucks want to do).
However, if all parties involved were willing to wait, this package could be one of, if not the best, around the league that could be made available to the Bucks.
Yes, it’s a lot to give up, but Antetokounmpo is a top-three player in the world. Plus, if the Spurs manage to land on Antetokounmpo’s list of preferred destinations, perhaps they could get away with giving up less than market value. They learned about what that’s like in the Fox trade.
Speaking of, Fox is an All-Star point guard, and he’s still only 27 years old. Even if the Bucks don’t view him as a long-term piece, he is a very tradable asset (though he may not be happy to get moved from the place he just requested a trade to).
The real prize of the trade would be landing one of Castle or Harper. Both have shown a ton of promise this season and would immediately become the franchise centerpiece in Milwaukee.
But the first-round picks are where things get really spicy.
The Hawks’ 2026 first-round swap is solid, as they’ve been a relatively middle-of-the-pack team this year. Their 2027 first could be interesting, too.
A swap in 2028 with the Celtics may not be amazing, but who knows how Jayson Tatum will respond to his Achilles injury?
The most juicy pick of the bunch is the 2031 pick swap with the Sacramento Kings, who are spiraling out of control right now.
Another Spurs-Giannis trade package, but not as mouth-watering
Now, perhaps the Spurs wouldn’t be willing to give up that much, which would make sense. They’re in a great place right now, so why mess up a good thing?
If that’s the way they feel, something like this could be a better middle ground (though it may not be the best offer Milwaukee could get, much like the one above):
Spurs receive: Giannis Antetokounmpo
Bucks receive: Stephon Castle, Devin Vassell, Keldon Johnson, Jeremy Sochan, Two first-round picks
It’s not a terrible offer, but it’s nowhere near the haul that the first one would send Milwaukee’s way.
Maybe they wouldn’t be willing to give it up, but if the Spurs see Antetokounmpo as a title-winning piece for years to come, than the first offer would be the perfect way to make the Bucks say, ‘How can I say no to that?’
Since Milwaukee doesn’t own its own picks, it needs young assets to build around and picks to do just that. This trade gives them both of those things at the highest level.