Bucks Rumors

2025 NBA Offseason Preview: Milwaukee Bucks

After winning their first championship in 50 years in 2021, the Bucks had a strong showing in the 2022 playoffs, but their attempt at a title defense was foiled in the second round against Boston. Khris Middleton was sidelined for that entire series due to an injury, which turned out to be a harbinger of the team's postseason health issues to come.

Milwaukee went 58-24 and claimed the top seed in the Eastern Conference ahead of the 2023 playoffs. In the team's first-round matchup with No. 8 Miami, superstar forward Giannis Antetokounmpo sustained a back injury early in Game 1, causing him miss the rest of that contest as well as the following two games. Antetokounmpo returned for Games 4 and 5, but he looked uncomfortable and was clearly not fully healthy. The Bucks were eliminated in five games, while the Heat made a surprising run to the NBA Finals.

To that point, Milwaukee’s front office had largely stuck with the same core roster and coaching staff that won the title two years prior. But the disappointing early exit, which saw the Bucks blow multiple leads late in games, led to major changes in the 2023 offseason, including firing head coach Mike Budenholzer and trading away their starting backcourt (Jrue Holiday, Grayson Allen) and multiple draft assets to acquire Damian Lillard, Portland's all-time leading scorer.

Lillard's first season in Milwaukee was rocky, both in terms of his individual performance and the goings-on of the team. The Bucks fired their new coach -- Adrian Griffin -- despite a 30-13 start, then went 2-1 under interim coach Joe Prunty, but only had a 17-19 record with Doc Rivers -- Griffin's replacement -- at the helm.

Entering the 2024 playoffs, the Bucks had homecourt advantage in their first-round series vs. Indiana, but Antetokounmpo didn't play at all due to a calf injury, and Lillard missed a couple games as well due to a sore Achilles. They wound up being eliminated in six games by the upstart Pacers.

Milwaukee got off to a rough start in '24/25, going 2-8 in its first 10 games. But the Bucks steadied the ship to an extent over the course of the season, and finished with a nearly identical record as the season prior (48-34 vs. 49-33), setting up a first-round rematch with Indiana.

Unfortunately, Lillard was diagnosed with a blood clot in his right calf in late March. He made a very quick recovery, suiting up for Games 2 and 3 and playing surprisingly extended minutes considering the lengthy layoff. He didn't look anything close to his usual self though, and disaster struck in Game 4, when the seven-time All-NBA guard suffered a torn left Achilles tendon.

Despite a stellar showing from Antetokounmpo, the Bucks were eliminated in the first round for the third straight time, this time in five games.

Lillard is on a maximum-salary contract which is projected to pay him about $54.1MM in '25/26, with a $59.5MM player option for '26/27. He turns 35 years old next month and will likely miss all of next season.

The severity of Lillard's injury and Milwaukee's third consecutive first-round exit have led to rampant speculation about Antetokounmpo's future. While there has been no indication to this point that he'll end up requesting a trade, it also can't be ruled out in the coming months.


The Bucks' Offseason Plan

The Bucks are in a difficult bind this offseason. They have one of the greatest players in NBA history in the middle of his prime, a franchise icon who has finished no worse than fourth in MVP voting in each of the past seven seasons and doesn't turn 31 until December. Even without Lillard, Milwaukee should still be a playoff team in '25/26 as long as Antetokounmpo is healthy.

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Bucks Rumors: Giannis, Tax, Lopez, Portis, Point Guards

After stating during multiple television appearances this week that a Giannis Antetokounmpo trade appears unlikely to happen in the short term, ESPN’s Brian Windhorst reiterated that point on Friday in a an ESPN.com story co-authored by Tim Bontemps.

At the moment, Windhorst and Bontemps say, the expectation around the NBA is that Antetokounmpo will still be in Milwaukee by the time the 2025/26 season tips off.

However, the ESPN duo stresses that’s just where things stand as of today. It doesn’t necessarily mean the situation won’t change at some point this offseason, since there’s no indication Antetokounmpo has definitively told the Bucks that he’s staying. It remains possible he could request a change of scenery later in the summer if he decides he’s not thrilled with the team’s direction.

For now though, the Bucks aren’t listening to trade inquiries on Antetokounmpo and aren’t expected to make any deal involving the two-time MVP in the short term.

Here’s more on the Bucks from Windhorst and Bontemps:

  • In meetings since the Bucks’ season ended, general manager Jon Horst and head coach Doc Rivers have presented plans to keep the core of the roster intact around Antetokounmpo, per ESPN. Milwaukee went 10-4 without Damian Lillard in March and April and is optimistic about its ability to contend for a top-six playoff spot until he’s ready to return, which the club hopes will happen before the end of the 2025/26 season, as Windhorst and Bontemps explain.
  • Personnel around the NBA are curious about the Bucks’ appetite to be a taxpayer in ’25/26 after paying substantial penalties in recent years, according to Windhorst and Bontemps, who hear from sources that the team is indeed prepared to operate above the tax line again. It would be difficult for the Bucks to retain free agent big men Brook Lopez and Bobby Portis without surpassing that threshold, ESPN’s duo notes.
  • While Milwaukee may be a taxpayer again next season, rival teams think the Bucks will look to operate below the first tax apron, giving them access to at least part of the non-taxpayer mid-level exception. The team may need that MLE to sign a free agent point guard to step in for Lillard. According to Windhorst and Bontemps, Dennis Schröder, Tyus Jones, and Malcolm Brogdon are a few names to watch.

Bucks Rumors: Giannis, Lopez, Portis, Porter, Trent

As Bucks star Giannis Antetokounmpo ponders his NBA future, he won’t let outside events rush the decision, Shams Charania of ESPN said today in an appearance on The Pat McAfee Show (Twitter video link). There has been speculation for weeks that the two-time MVP might demand a trade to improve his chances of winning another NBA title, but Charania suggests that interested teams may have to wait a lot longer.

“His status will not be tied to the NBA draft, it won’t be tied to free agency,” Charania said. “It’s much more likely that his future plays out into July and into August in terms of him seeing the landscape of not only the Bucks – seeing the landscape of the league, seeing what other teams do.”

Antetokounmpo reportedly met with Bucks officials last month to discuss the direction of the franchise. Nothing was leaked from that meeting, but there has been a sense of growing skepticism around the league that Antetokounmpo will actually be on the trade market this summer, with an NBA executive predicting to Adam Zagoria of NJ.com this week that the 30-year-old “isn’t going anywhere.”

Charania states that Antetokounmpo’s history of being loyal to Milwaukee contributes to that feeling, but cautions that he hasn’t reached a final decision yet.

“When you’re a star of that caliber, the league moves how you want it to move,” Charania added. “The league will move when you’re ready to ask for a trade or if you’re ready to say that I’m staying, I want to be back.”

There’s more on the Bucks:

  • Teams interested in trading for Antetokounmpo have begun to move forward with alternate strategies as the draft and free agency draw nearer, Jake Fischer of The Stein Line states in his latest Substack column (subscription required). League sources tell Fischer that the Bucks aren’t considering any of the trade offers they’ve received for their star forward, and they seem to be operating as though they expect him to be on the roster next season.
  • Milwaukee may find it challenging to retain free agent center Brook Lopez, Fischer observes in the same piece. Sources tell him that the Lakers, who are known to be in the market for center help, have been interested in Lopez for several years. The Rockets, who were close to signing Lopez two years ago, may try again if they can’t reach a new deal with Steven Adams, their own free agent big man.
  • The Bucks are hoping to keep Bobby Portis, but he might have several mid-level offers to choose from if he declines his $13.4MM player option for next season, Fischer adds. He identifies the Warriors as a possible suitor, noting that Steve Kerr has been a fan of Portis since coaching him in the 2023 FIBA World Cup.
  • Stein hears that Kevin Porter Jr., who’s expected to decline his $2.55MM player option for next season, and Gary Trent Jr. will also draw plenty of interest on the free agent market.

Kevin Porter Jr. Expected To Decline Player Option

Bucks guard Kevin Porter Jr. is expected to decline his $2.55MM player option in order to become a free agent, Michael Scotto of HoopsHype tweets.

It certainly doesn’t come as a surprise, considering the contributions Porter made after being dealt from the Clippers to the Bucks. In 30 regular season appearances, Porter averaged 11.7 points, 3.9 rebounds and 3.7 assists in 19.9 minutes per game with Milwaukee. He averaged 11.2 points, 3.6 rebounds and 5.4 assists in five postseason outings.

Milwaukee hopes to retain Porter, according to Scotto. That makes plenty of sense, given Damian Lillard‘s Achilles tear, which will likely keep Lillard out of action all of next season. Porter projects as the Bucks’ starting point guard, unless they acquire one via a trade or free agency. Milwaukee does not have a first-round selection in this month’s draft.

Porter was dealt to the Bucks in February after appearing in 45 games with the Clippers.

He is a former first-round pick who played in Greece last season after multiple off-court incidents, including reaching a plea agreement for misdemeanor assault and harassment in January 2024 after allegedly attacking his then-girlfriend in September 2023. The Clippers gave him another NBA opportunity in July when they signed him to a two-year, minimum-salary contract.

Trade Rumors: Giannis, Durant, Spurs, Garland

The trade market for Bucks star Giannis Antetokounmpo continues to be nonexistent, ESPN’s Brian Windhorst said on Tuesday during an appearance on Get Up (YouTube link). As Windhorst explained, despite rampant speculation about the possibility of the two-time MVP being traded this offseason, there has still been no indication that either Antetokounmpo or the Bucks are preparing for that scenario.

“Giannis Antetokounmpo has gone overseas to travel with his family. He has made no trade request to the Bucks. He has made no trade hint to the Bucks,” Windhorst said. “The Bucks are proceeding with their offseason as if Giannis is going to be with them, and there’s no significant trade talks right now. The plan is for Giannis Antetokounmpo to be a Buck.

“Now, he can change all that with a simple request, but that request has not happened and it’s not clear it’s going to happen anytime soon.”

Windhorst’s reporting lines up with what we’ve heard recently from Jake Fischer of The Stein Line and Brian Lewis of The New York Post. Both Fischer and Lewis indicated there’s increased skepticism among league sources that Antetokounmpo will end up on the trade block in the coming weeks.

It’s still not a sure thing that Antetokounmpo will open next season in Milwaukee, since trade requests often don’t come this early in the offseason. When Giannis’ current teammate Damian Lillard asked out of Portland in 2023, for example, it happened on July 1.

Still, I wouldn’t necessarily expect Antetokounmpo to wait that long to make a final decision — the further we get into June without a trade request, the better the Bucks have to feel about the odds of it not happening at all this summer.

Here are a few more trade-related notes and rumors from around the NBA:

Central Notes: Bucks, Bulls, Turner

While there’s reportedly increased skepticism that the Bucks and star Giannis Antetokounmpo will part ways this summer, there are plenty of questions facing the team regardless of whether he stays or leaves. Spotrac’s Keith Smith breaks down the many hurdles Milwaukee has to face in his offseason preview, writing that the team is in the unfortunate position of needing to prepare for two potential paths: one where the two-time MVP stays and one where he goes.

The Bucks have few assets to trade should Antetokounmpo decide to remain in Milwaukee, and it would be imperative to maximize the pieces still on the roster, given that any team with Giannis would surely still be attempting to compete for championships. Longtime Antetokounmpo running mate Brook Lopez is an unrestricted free agent and could probably be retained for somewhere around $15-18MM per season over two years, Smith speculates. Bobby Portis has a $13.4MM player option, and it’s unclear if he would command more than that on the market.

Retaining their minimum signings in Gary Trent Jr., Taurean Prince, and Kevin Porter Jr. will be important, as they can all contribute as floor spacers, which is crucial when building a roster around Antetokounmpo. It’s unlikely that Pat Connaughton and Kyle Kuzma will receive contract extensions, and it’s possible the team looks to move them for more consistent contributors, Smith writes.

If Antetokounmpo does ask out, though, Smith expects all of the Bucks’ free agents to be on new teams come next season, though it’s highly likely Connaughton picks up his player option no matter what else happens.

We have more news from the Central Division:

  • If the Bucks want to get more out of their marginal moves, they need to have better top-down organizational alignment, writes The Athletic’s Eric Nehm in his Bucks mailbag. Nehm identifies A.J. Green as one of the team’s few developmental successes, and points to head coach Doc Rivers‘ deliberate creation of a role for the shooting specialist as a key to that success. The Bucks need their head coach to take a similar approach to other players, notably Andre Jackson Jr., if they want to recreate that formula.
  • The Bulls‘ outlook has improved since the end of the season based solely on the Eastern Conference weakening this summer, writes Joe Cowley of the Chicago Sun-Times. With the top two picks in the 2025 draft expected to end up on Western Conference teams, the Celtics looking at a restructuring season following Jayson Tatum‘s ruptured Achilles, and questions surrounding what the Cavaliers and Knicks will do following postseason defeats, Chicago could stand pat and still be back in postseason contention. However, the Bulls have decisions to make on trading or extending players like Nikola Vucevic, Zach Collins, Kevin Huerter, Ayo Dosunmu, and Coby White, who are all heading into the final year of their deals.
  • The Pacers and starting center Myles Turner have mutual interest in coming to terms on a new deal, reports ESPN’s Shams Charania (Twitter video link). Indiana hasn’t been a taxpayer since 2006, but after making deep playoff runs in back-to-back years, the club is willing to pay what it takes to keep its roster intact, says Charania. Jake Fischer of the Stein Line, who has previously reported that the Pacers are expected to re-sign Turner, confirms the ongoing mutual interest between the two sides.

Stein’s Latest: Kidd, Flagg, Beal, Booker, More

The Mavericks will likely deny permission for the Knicks to talk to Jason Kidd about their head coaching vacancy if a formal request is made, Marc Stein states in his latest Substack column (subscription required). Stein cites “well-placed observers” who believe Dallas would turn down the request to interview Kidd, just as the Rockets have communicated that they would do if New York asks to speak with Ime Udoka.

Stein points out that Kidd received an extension after the first round of the playoffs in May of 2024 when rumors began circulating that the Lakers were targeting him in their search for a head coach. Kidd took the Mavs to the NBA Finals after that extension was finalized and led them to the play-in tournament this year while dealing with the fallout from the Luka Doncic trade and a late-season roster shortage.

Stein writes that many people in the league are confounded that the top targets who have emerged since Tom Thibodeau was fired are coaches who are already employed — Kidd, Udoka and Minnesota’s Chris Finch. He notes that several prominent coaches are currently free agents, citing Michael Malone, Taylor Jenkins, Mike Brown, Mike Budenholzer and Frank Vogel as examples.

Stein provides a list of coaches who have been involved in trades, noting that it has happened five times since 1982.

Stein offers more information from around the NBA:

  • Cooper Flagg will visit Dallas prior to the June 25 draft, Stein has learned. There’s no drama regarding who the Mavericks will take with the No. 1 pick, but the visit will give Flagg a chance to become familiar with the coaching staff and team executives before it becomes official.
  • A buyout may not be a realistic option for the Suns if they can’t work out a trade involving Bradley Beal. According to Stein, Phoenix is limited to a buyout offer of about $80MM, which is far short of the nearly $111MM Beal has left on his contract. The fact that the interview process for coaches included questions about how they plan to incorporate Beal is a sign that the Suns understand that he’ll be hard to move, Stein observes.
  • Stein expects Devin Booker to receive a two-year, $150MM extension once he becomes eligible on July 6, noting that he played a prominent role in the search for a new head coach.
  • Stein hears that Bucks guard Pat Connaughton is likely to pick up his $9.4MM player option for next season. A decision is expected soon, although the deadline isn’t until June 24.
  • Former Bucks head coach Adrian Griffin has interviewed with the Grizzlies for a spot on Tuomas Iisalo‘s coaching staff, sources tell Stein.

Rival Teams Skeptical Giannis Will Request Trade?

While he cautioned that it’s too early to say what might happen, and things could change later this month, Jake Fischer of The Stein Line recently said on a Bleacher Report live stream (YouTube link) that rival teams have become skeptical that Bucks superstar Giannis Antetokounmpo will request a trade out of Milwaukee.

Honestly, right now I’d say the prevailing sentiment from rival teams that I’m speaking to — around the combine two weeks ago, two and a half weeks ago — there was no shortage of optimism, of hope, of excitement from other teams that they were going to be able to potentially make an offer to get Giannis Antetokounmpo into their franchise, into their building,” Fischer said (hat tip to RealGM).

Of late, I’d say that that confidence has been replaced with skepticism. To a man, from talking to agents, team executives, whoever, there is not a lot of belief right now at this juncture. It’s only June 5th — anything could happen — and I’ve been told all along that if there is a decision, a formal decision made to shut or open the door on trade conversations for Giannis this summer, that it would likely happen closer to the end of June and when the offseason really, really begins.

But I’d say for now, for now, talking to people around the league, the assessment and the expectation is that they’re going to believe it when they see it — that someone who has valued being the franchise face, that the central linchpin of the Bucks franchise, is going to want to play somewhere else.”

The two-time MVP is reportedly mulling his future in Milwaukee and is expected to let the Bucks know at some point soon whether he remains committed to the team or would prefer to seek a change of scenery. While Shams Charania of ESPN reported a few weeks ago that Antetokounmpo is more “open-minded” than in the past about taking the latter route, there has been no indication to this point that he’s looking to leave the Bucks.

Fischer’s comments echo reporting from Brian Lewis of The New York Post, who wrote that NBA personnel he’s spoken to recently have been expressing less confidence about Giannis asking to be traded this summer.

Eastern Notes: Giannis, Nets, Raptors, Spoelstra, Pistons, Magic

Team personnel around the NBA who have spoken recently to Brian Lewis of The New York Post (subscription required) are expressing less confidence that Giannis Antetokounmpo will ask the Bucks to trade him this summer.

“He’s not that guy (to cause trouble),” one source told Lewis. “He’s going to complain, but he isn’t going to actually burn it to the ground and be the bad guy to leave.”

As Lewis details, it’s perhaps no coincidence that rumors about the Nets‘ interest in pursuing a second lottery pick have gained some traction lately, since that’s viewed as a more realistic move for Brooklyn than landing Antetokounmpo. Even if the Bucks star does become available, the Nets have fallen behind teams like San Antonio, Houston, and Toronto as betting favorites to land him, Lewis notes.

“Toronto has more than anyone to offer for Giannis,” one league source told The Post. “But I don’t think he’s being moved.”

If Giannis were available, the Raptors could make a strong bid for him by including former Rookie of the Year and All-Star Scottie Barnes in their package. Still, it’s debatable whether such a move would make sense for Toronto, according to Eric Koreen of The Athletic, who notes that paying a significant price (Barnes, plus other players and picks) for Antetokounmpo wouldn’t necessarily put the Raptors in a better position to contend than recent iterations of the Bucks.

Here’s more from around the Eastern Conference:

  • Since we published our most recent list of the NBA’s longest-tenured head coaches last August, four of the top six names on that list (Gregg Popovich, Michael Malone, Taylor Jenkins, and Tom Thibodeau) have been let go or, in Popovich’s case, stepped down. That leaves Erik Spoelstra of the Heat as the league’s longest-tenured head coach by a significant margin, and he doesn’t take that longevity for granted, as Anthony Chiang of The Miami Herald details. “You have to have great ownership and stability from the front office,” Spoelstra said during the season. “… I’m truly grateful for that, because we’ve been able to work through some tough losses and tough seasons and I think we’ve gotten better from that.”
  • Omari Sankofa II of The Detroit Free Press (subscription required) considers how the Pistons might be able to leverage certain teams’ cap and apron positions this offseason by pursuing players from those clubs. Sankofa identifies Nickeil Alexander-Walker, Grayson Allen, Isaac Okoro, and Sam Hauser as four wings whom Detroit could target in free agency or trades. Minnesota, Phoenix, and Boston are coming off second-apron seasons, while Cleveland is on track to exceed the second apron in 2025/26.
  • The Magic unveiled a new logo and three new uniforms earlier this week, per a team press release. Orlando’s updated look can be found here.

Rockets Rumors: Adams, Lopez, VanVleet, Holiday, Durant, More

A handful of Rockets veterans, including Steven Adams, Jeff Green, and Jae’Sean Tate, are headed for unrestricted free agency this summer. Of those UFAs, Adams is viewed as the team’s “clear priority,” sources tell Kelly Iko of The Athletic.

That doesn’t necessarily mean that Green and/or Tate won’t be back, but they may be minimum-salary options for Houston, whereas it will almost certainly take more than that to re-sign Adams, who became an important part of the club’s rotation late in the season. The Rockets are operating under the assumption that the veteran center wants to return, Iko writes, and are expected to continue talking to him about a new contract.

Adams is extension-eligible now and could be signed to a new deal prior to free agency, but if the two sides can’t work something out, Houston may circle back to Brook Lopez, team sources tell Iko. Lopez was a top Rockets target during the 2023 free agent period and came close to making the move to Houston at that time before deciding to remain in Milwaukee.

The Rockets also hold team options for 2025/26 on a pair of guards: Fred VanVleet ($44.9MM) and Aaron Holiday ($4.9MM). The expectation is that VanVleet will return to Houston, either on his team option or on a new contract, Iko writes. The Rockets are also interested in retaining Holiday, but that doesn’t necessarily mean his option will be picked up — the club may wait to get a better sense of how its offseason and the league-wide market are playing out before making a decision on the reserve guard, Iko explains.

Here’s more from Iko on the Rockets:

  • While Houston would like to keep its young core together, the team is willing to consider the possibility of a significant trade. Giannis Antetokounmpo is considered a top target, though it remains to be seen whether the Bucks will actually make him available, Iko writes. The Suns, conversely, have made multiple calls to the Rockets since the end of the season about the possibility of a deal that sends Kevin Durant to Houston and sends some of the Suns’ draft assets back to Phoenix, team sources tell The Athletic. The asking price for Durant has been “gradually lowered” over the course of those calls, according to Iko, who says the Rockets would be interested if the price is modest enough, despite their desire to keep their core intact.
  • The Rockets also anticipate having trade conversations with the Celtics‘ front office this summer, given Boston’s reported desire to reduce its payroll, says Iko.
  • The expectation is that Reed Sheppard will have a “vastly expanded role” in 2025/26 after playing sparingly as a rookie, Iko reports. The Rockets remain very high on last year’s No. 3 overall pick, viewing him as a player whose floor-spacing abilities can help in the short term and whose long-term ceiling is high.
  • Houston has received inquiries from rivals about former first-rounder Cam Whitmore, as well as this year’s No. 10 overall pick, per Iko. The Rockets remain optimistic about Whitmore’s outlook and potential rotation role, and neither he nor his representatives have asked for a change of scenery, so nothing is imminent on that front, Iko reports. As for this year’s lottery pick, Houston is open to discussing a variety of scenarios, including trading down, trading out of the first round, or packaging that pick with a player to upgrade the roster.
  • Although the Rockets’ front office is expected to engage in rookie scale extension negotiations with Jabari Smith and Tari Eason this offseason, team sources tell Iko that the club would be comfortable with the idea of matching an offer sheet for either player in 2026 if no agreements are reached this year.