The Lakers and Warriors are expected to be among the teams talking to the Bucks about a potential Giannis Antetokounmpo trade in the coming weeks, but neither Pacific team looks like the frontrunner to land the two-time MVP, according to reports from ESPN.

Appearing on The Rich Eisen Show this week (YouTube link), ESPN’s Shams Charania suggested that the Lakers aren’t expected to involve Austin Reaves (via potential sign-and-trade) in their offer for Antetokounmpo. Beyond Reaves, the team isn’t exactly loaded with attractive young talent, and the Stepien rule prevents Los Angeles from offering more than three first-round picks (2026, 2031, and 2033).

“The Lakers expressed interest in Giannis at the deadline,” Charania said. “Right now, what they’ll be able to offer is three first-round picks and cap space (to) essentially absorb Giannis’ contract.

“Now, if you’re the Bucks, are you just going to trade Giannis to the Lakers for cap space (and) three first-round picks? My sense is they’re going to get better in the marketplace than that. I think there’s a bigger appetite than that. And so, time will tell. We’ll know in the next six weeks.”

The Warriors pursued Antetokounmpo more seriously than the Lakers did at February’s deadline, but the Bucks turned them down at the time and Golden State isn’t really in position to significantly improve its offer this spring.

The Warriors could put together a package that includes up to four first-round picks (likely 2026, 2028, 2030 between 1-20, and either 2032 or 2033), plus guard Brandin Podziemski. Some combination of Moses Moody, Jimmy Butler, and/or Draymond Green could also factor into Golden State’s offer, but Moody and Butler are recovering from major injuries and won’t be healthy to open the 2026/27 season, while Green has a decision to make on a player option.

“This is just my read on it,” ESPN’s Anthony Slater said during a radio appearance on 95.7 The Game (Twitter video link; hat tip to RealGM). “I think (the Warriors are) not first in line, not second or third in line, really, at this point as far as packages that appeal most to Milwaukee. We know by deadline time Miami’s (offer) was the one that the Bucks seemed to be contemplating.”

Although Slater believes the Warriors will “cautiously enter the waters” when it comes to big-game hunting for star-level veterans like Antetokounmpo this summer, he said he wouldn’t be surprised if they simply use the 11th overall pick to select a player in next month’s draft, pointing out that the team could probably find a prospect at that spot who could immediately contribute and still has long-term upside (Twitter video link).

Slater added that he also expects the Warriors to prioritize “mid-prime” players as they seek roster upgrades this offseason, observing that they lost one player who fit that bill when they sent Andrew Wiggins to Miami at the 2025 deadline.

“You don’t want to be loaded with 19-year-olds and 37-year-olds,” he said.

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