The Bucks are seeking clarity regarding what several teams are willing to offer for Giannis Antetokounmpo before reaching a final decision on a trade, league and team sources tell Sam Amick and Eric Nehm of The Athletic.

The Celtics, Timberwolves and Magic are among the teams involved in negotiations, according to the authors’ sources. The Trail Blazers have also expressed interest in acquiring Antetokounmpo, but Milwaukee seems to prefer using Portland as a third team to help facilitate a deal and reclaiming some of the draft picks it sent away in the 2023 Damian Lillard trade.

The Heat, who made an aggressive pitch for Antetokounmpo prior to the trade deadline, are still viewed as the frontrunners across the league, according to Amick and Nehm. Many sources expected a deal with Miami to be completed in February before the Bucks pulled out, and the current package is expected to include Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., either Pelle Larsson or Kasparas Jakucionis and draft assets that could involve up to three first-round picks. The authors note that Herro unfollowed the Heat on Instagram this week, creating speculation that a deal was about to get done.

Sources who spoke to Amick and Nehm cited “a sense of distrust” from some teams lingering from the way Milwaukee conducted trade discussions leading up to the deadline. It was the first time that general manager Jon Horst actually welcomed league-wide offers for Antetokounmpo, and the team seemed willing to make a deal. However, skepticism mounted about the Bucks’ “level of sincerity” as the deadline drew close, and the two-time MVP ultimately wasn’t moved.

Amick and Nehm cite the Celtics as posing “a serious threat” to Miami’s pursuit of Antetokounmpo, as league sources tell them that he would be willing to commit to a four-year, $275MM extension with Boston. Jaylen Brown would likely be headed out in that scenario, with the Bucks expected to move him elsewhere in exchange for younger players and draft picks if it winds up being a two-team deal.

Amick and Nehm describe the Wolves as “an emerging option” for Antetokounmpo. It’s been repeatedly stated that he prefers to stay in the Eastern Conference, but league sources tell the authors that the Bucks are interested in what Minnesota could offer. They hear that Milwaukee would want Jaden McDaniels, Naz Reid, Terrence Shannon Jr. and their two tradable first-round picks (No. 29 this year and their 2033 selection). However, the Wolves consider McDaniels off limits, according to Amick and Nehm, along with young center Joan Beringer. It’s also not certain, they add, that Antetokounmpo would sign an extension with Minnesota.

Sources tell Amick and Nehm that some teams are asking the Bucks to present them with offers that they would consider acceptable, rather than going back-and-forth with proposals. The hope is not only to get clarity from Milwaukee’s side, but to minimize the number of players whose names get leaked to the media. Bucks co-owner Jimmy Haslam indicated last month that the team hopes to resolve Antetokounmpo’s future by the start of the draft, so that leaves 11 more days for the machinations of a deal to play out.

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