On October 7th Beijing time, renowned reporter Shams published a detailed report on Giannis, revealing that the Greek superstar is only willing to play for the New York Knicks apart from the Milwaukee Bucks. The Knicks and Bucks had trade discussions regarding Giannis in August, but no agreement was reached in the end.
While Giannis was contemplating the Bucks' future during the offseason, team general manager Jon Horst traveled over 6,000 miles to Athens, Greece at the end of July for a face-to-face meeting with the franchise cornerstone.
At that time, Horst had just orchestrated a transformative summer for the Bucks: boldly deciding to waive and stagger Damian Lillard’s contract to create cap space to sign center Myles Turner from rival Indiana Pacers. This was a significant long-term financial commitment—not only Turner's 4-year, $108 million deal, but also the salary burden of Lillard’s remaining $113 million contract over five seasons was considerable. This move was the Bucks’ full effort to retain Giannis, but the team made this decision without consulting or seeking Giannis' approval—similar to when they acquired Lillard from the Portland Trail Blazers in 2023, also without his input.
Horst, named NBA Executive of the Year in 2019, has been with the Bucks since 2008 and became GM in 2017. This latest move marks his third innovative roster upgrade centered around Giannis: acquiring Jrue Holiday in 2020, trading for Lillard in 2023, and now signing Turner. In Athens, Horst met with Giannis and one of his agents, Georgios Panou, in what was the most important and candid discussion between the two parties all summer. The meeting aimed to establish open communication, addressing frustrations from three consecutive first-round playoff exits and opinions on the team's offseason moves. The "architect" who brought Milwaukee its first championship in 50 years also shared his vision for the 2025-26 season, expressing confidence that the current roster can compete for the Eastern Conference title.
According to league sources, despite Horst’s confidence in the roster and moves, Giannis expressed his doubts: he was uncertain whether this lineup truly has the capability to contend for a championship and wanted to explore alternative paths for both the team and himself.
Ultimately, Giannis returned to the Bucks to start the 2025-26 season. Because he would participate in the European Basketball Championship, the Bucks reached an agreement with his brother Thanasis in late August on a guaranteed one-year, $2.9 million contract extension. At least for now, both sides have found common ground to continue their cooperation.
However, before the new season began, this NBA all-time great remained the center of league-wide speculation, with his ultimate future still undecided. In fact, Giannis’ ongoing negotiations with the Bucks have been far from smooth,as he almost joined the New York Knicks to start a new chapter in his career..
Three years after the championship, first-round exits: Bucks' dilemma and Giannis' anxiety
Since winning the championship in 2021 and narrowly missing a return to the Eastern Conference Finals in 2022, the Bucks have failed to win any playoff series—exiting in the first round for three consecutive seasons. Giannis thus became the second player in NBA history to average 30 points per game in the regular season but fail to win a playoff series for three straight years (the first was Oscar Robertson from 1964-65 to 1966-67).
Injuries have been a major obstacle on the Bucks’ playoff path: over the past two seasons, both Giannis and Lillard missed significant playoff time, preventing the team from contending for the title. Although expectations were high whenever both wore Bucks jerseys, Lillard suffered an Achilles tear during the 2025 playoffs, ruling him out for the 2025-26 season and unexpectedly ending their partnership.
As early as mid-May during the NBA Draft Combine, Giannis’ U.S.-based agent, Alex Saratsis of Octagon, received strong interest inquiries from multiple teams. Meanwhile, Saratsis seriously evaluated which external teams would be the best fit if Giannis and his team pushed for a trade away from Milwaukee. Several insiders told ESPN that although multiple teams were discussed internally,Giannis made it clear that besides Milwaukee, the only team he is willing to play for is the New York Knicks.
League sources revealed that the Bucks received inquiry calls from the Knicks about Giannis, and the two sides communicated for a period in August but ultimately failed to reach a trade agreement.It was reported that the Bucks explicitly told the Knicks they preferred not to trade Giannis; internally, the Bucks felt the Knicks did not present a sufficiently serious offer to justify further negotiations. It remains unclear how the Bucks would respond if the Knicks pursued aggressively. An insider familiar with the talks described this several-week dialogue as an “exclusive negotiation window.” The Knicks, however, believe the Bucks never seriously considered trading Giannis.
Led by president Leon Rose, the Knicks have been eyeing Giannis for several years. Since Rose took charge in 2020, he has transformed the Knicks into perennial playoff contenders. From 2024 onward, league insiders including those within the Knicks organization believed that if Giannis considered a trade, he would most likely choose the Knicks.
Even knowing Giannis’ potential intentions, the Knicks continued to pursue their own goals independently and did not rely solely on his decision—they aimed to strengthen the team autonomously to get closer to a championship. In June 2024, the Knicks traded multiple draft picks to acquire Mikal Bridges from the Brooklyn Nets; in early October, they sent Julius Randle, Donte DiVincenzo, and a first-round pick to the Minnesota Timberwolves for Karl-Anthony Towns. In August this year, the Knicks signed Bridges to a 4-year, $150 million extension, making him untradeable before February.
These moves significantly depleted the Knicks’ non-player assets, leaving only one first-round pick, three pick swaps, and eight second-round picks, essentially eliminating their capacity to offer a highly attractive package to the Bucks. Nonetheless, this team, reaching the Eastern Conference Finals for the first time in 25 years, remains a championship favorite in the East alongside the Cleveland Cavaliers for the upcoming season.
Giannis’ championship obsession: Bucks’ pressure and the uncertainty ahead
In recent years, Giannis has openly and privately expressed his desire to win a second championship; if the Bucks cannot provide him a real chance to compete for the title, he might consider leaving.
The Bucks revealed that Giannis missed the early part of training camp due to a COVID infection. On September 29 media day, he remotely stated: “I want to play for a team that gives me a chance to compete for a championship. If you don’t want to compete at a high level or want your season to end in April, that’s disrespectful to the game of basketball.”
An intriguing exchange occurred on media day: Bucks managing partner Wes Edens said he spoke with Giannis in June, during which the star expressed commitment to Milwaukee.
However, an hour later, Giannis responded: “I don’t remember that meeting.” He added, “We’ve been stuck in the first round for three years with nothing to discuss. Now we just have to work hard, stay focused all year, try to win more games, make the playoffs, and not exit in the first round again. That’s basically it, and then we’ll see.”
Last Saturday, Giannis flew from Greece to Miami to join the team, saying: “I want more—I want to win another championship and earn another medal for my national team. Legacy means everything to me... I play to win, not just to be in the league and get paid.”
Insiders worried that, given Giannis’ repeated championship aspirations, he might formally request a trade during Horst’s one-day trip to Greece on July 28.League sources sharing the same expectation noted that even after the Bucks unexpectedly waived Lillard and signed Turner, Giannis kept questioning if this roster could truly contend for a title. He reportedly expressed serious doubts and conveyed his feelings directly to Horst.
This offseason marked the first time Giannis actively explored external options. His communications with the Bucks eventually led to trade talks with the Knicks. Now, months later, Giannis is closely monitoring both the Bucks’ start to the new season and the league’s competitive landscape.
Throughout the offseason, Bucks owner Jim Haslem, Edens, Horst, and head coach Doug Rivers firmly stated their desire to keep Giannis and emphasized that trading him would not be easy. Other teams’ executives believe that if Giannis wants to force a departure, he would need to create public pressure or stage a “power play” like several NBA stars who requested trades in recent years. But those familiar with Giannis say this contradicts his personality—he did not apply any public pressure on the Bucks this summer. Giannis has built his image on “loyalty,” having renewed with Milwaukee twice in 2020 and 2023 without prior warning, proactively committing to stay.
Now entering his 13th season with the Bucks, Giannis has experienced both highs and lows with the team. His current contract covers this season and 2026-27, after which he can opt out and become a free agent. Whether he will remain with the Bucks through the contract’s end remains highly uncertain.
League sources indicate Giannis is expected to keep his options open depending on how the Bucks perform at the start of the new season.From the very start of the new season, the Bucks face unprecedented pressure—it is a “make-or-break” year. Insiders understand that the team’s performance in the first quarter of the schedule will greatly influence its future direction. Giannis will also draw attention from across the league, as all teams hope to position themselves advantageously amid a potential “Giannis trade earthquake.”
For Giannis, his “peak bargaining period” will come next summer—when only one guaranteed season remains on his contract. Starting October 1, 2026, he will be eligible to sign a four-year, $275 million max extension with Milwaukee, valid through the 2030-31 season. If traded before then, he can sign an equivalent contract with his new team after six months. This will increase his leverage: if he seeks a trade, any team willing to pay a high price will want assurance he plans to stay long-term, allowing Giannis to decide his next destination.
The current standoff: Bucks’ confidence and the league’s watchful eye
At present, the Bucks remain confident that with Giannis on the roster, and with injuries sidelining Indiana Pacers’ Haliburton and Boston Celtics’ Tatum, the Eastern Conference landscape has opened up and the team can secure a competitive spot. Last season, Giannis averaged 30 points, 10 rebounds, and 5 assists per game with a 60% shooting percentage—his second consecutive season achieving these stats, an unprecedented feat in NBA history. With Lillard gone, Giannis will undoubtedly bear a heavier offensive load this season.
Giannis’ near-superhuman nightly performances give the Bucks belief they can challenge any Eastern opponent. Although the Bucks have not yet paid luxury tax this season, waiving Lillard and signing Turner will increase the team’s salary commitments by $22.5 million annually for the next five seasons.
The Bucks’ performance this season will determine if Giannis becomes a potential trade target midseason and whether he will again explore outside options amid fierce competition. The entire league is watching closely because a key question remains unanswered: will Giannis’ “trade window” reopen before next summer?