The Milwaukee Bucks are looking for a package that includes young, high-potential players along with multiple draft picks in any potential trade involving Giannis Antetokounmpo, according to ESPN’s Shams Charania. Among the teams known to be interested in acquiring Giannis, the Golden State Warriors reportedly hold the greatest number of draft picks, but the Miami Heat’s offer stands out due to the promising talent they are including.
The Miami Heat have proposed a deal centered around two key young players, Kel’el Ware and Tyler Herro. Ware is viewed as a blue-chip prospect, while Herro brings proven value as an established All-Star. According to Miami Herald’s Barry Jackson, the package from the Heat includes these players, Terry Rozier’s expiring contract, and a combination of first-round picks along with potential pick swaps in future drafts.
“The Heat’s offer, according to a source, is widely expected to include Ware, Tyler Herro, Terry Rozier’s expiring contract, and another young player or more, as well as first-round picks in 2030 and 2032 and possibly first-round pick swaps in 2026, 2029 and 2031,”
Barry Jackson reported on Monday.
Details of Miami Heat’s Proposed Trade Components
The Heat’s offer reportedly consists of several notable assets:
- Kel’el Ware, a top-tier young talent
- Tyler Herro, an All-Star guard
- Terry Rozier’s expiring contract
- One or more additional young players
- First-round picks for 2030 and 2032
- Potential first-round pick swaps for 2026, 2029, and 2031
Miami may also consider including an additional draft pick in order to strengthen the proposal further, making their offer one of the most comprehensive among Giannis trade suitors.
Building a Core Around Giannis Antetokounmpo in Miami
Should the Bucks accept Miami’s package, the Heat would still retain a solid supporting cast to complement Antetokounmpo. This group would include defensive specialist Bam Adebayo, rising wing Jaime Jaquez Jr., and first-time All-Star Norman Powell, providing both defensive and offensive balance around the star player.
Miami Herald also notes the Heat’s possibility of seeking draft capital from a third team if Milwaukee demands more than the two first-rounders Miami currently can offer by the trade deadline. Although the Heat hold up to four first-round picks over the summer, only two future first-rounders (2030 and 2032) are currently tradable for a deal before Thursday’s deadline.
Barry Jackson outlined three strategies for Miami to acquire additional draft selections:
“1) Try to find a team that will trade a 2026 or 2027 first-round pick to Miami for Andrew Wiggins.
2) Amend the protections on the first-round pick due Charlotte. That first-rounder is lottery-protected in 2027 and unprotected in 2028. If Heat waives the protections and Charlotte agrees to accept an unprotected Heat pick in 2026 or 2028, that would free up a third first-rounder.
3) Say, hypothetically, that the Oklahoma City Thunder does not want to keep all three of its 2027 first-round picks. Miami could offer to take one of those picks in exchange for the Heat offering the Thunder a chance to swap first-round picks with Miami in 2029 and 2031, as well as other assets or financial considerations. That could entice OKC and it would leave Miami with three tradable first-round picks (2027, 2030, 2032).”
Giannis Trade Competition Narrowing to Warriors and Heat
Reports from multiple insiders indicate that the trade bidding for Giannis Antetokounmpo may eventually come down to the Golden State Warriors and the Miami Heat. The New York Knicks, despite their current six-game winning streak, appear unlikely to pursue a trade aggressively, while the Minnesota Timberwolves face difficulty assembling a sufficient offer due to a shortage of draft picks and young players that meet the Bucks’ criteria.
ESPN’s Brian Windhorst commented on the Knicks’ stance:
“The Knicks are not operating like a team going all in for Giannis.”
Brian Windhorst, ESPN Analyst
Windhorst also suggested that the Bucks might be in a better position to negotiate a trade in the offseason, when additional teams with greater draft capital could enter the conversation.
“I think the Bucks will be in a better position to make this trade in the summer than they are now.”
Brian Windhorst, ESPN Analyst
Potential Impact and Next Steps in Giannis Trade Negotiations
The Miami Heat’s inclusion of young talent like Kel’el Ware and All-Star Tyler Herro, combined with significant draft assets, creates a compelling package for the Bucks, distinguishing Miami in the trade discussions. Meanwhile, the Warriors’ depth of available draft picks offers a different but competitive route for Milwaukee to secure its future beyond Giannis.
If a trade occurs before the deadline, it would reshape the landscape of the Eastern Conference and alter Miami’s roster dramatically around Antetokounmpo. However, the likelihood of waiting until summer increases as teams continue to assess their draft assets and strategic options. Any eventual trade will require Milwaukee to balance immediate lineup impact with long-term planning through draft capital and player development.
Miami Heat’s potential offer for Giannis Antetokounmpo:
Tyler Herro
Kel’el Ware
Terry Rozier
Young player(s)
2026 first-round pick swap,
2029 first-round pick swap
2030 first-round pick
2031 first-round pick swap
2032 first-round pickThey could also add another pick by… pic.twitter.com/pKStuzv65z
— NBACentral (@TheDunkCentral) February 2, 2026
Brian Windhorst says the Knicks aren't heavily pursuing Giannis right now by the deadline 👀
"The Knicks believe in this team.. They believed in this team last summer when Giannis was loosely available in those discussions. They didn't make an aggressive offer at the time of… https://t.co/zeXF7C8EJu pic.twitter.com/5BmVjKUz4I
— Heat Central (@HeatCulture13) February 2, 2026
