With the Milwaukee Bucks' disappointing playoff flameout, fans across the association are already back to playing with the trade machine to find pathways to landing Giannis Antetokounmpo.
For San Antonio Spurs fans, though, this is more than just a pipe dream. According to The Athletic’s Sam Vecenie, multiple league sources name Giannis as a possible target for them. The fit, on paper, is terrifying. One Eastern Conference exec didn’t mince words: “If they get Giannis, they’re the title favorites next year.”
And fortunately for the Spurs, they're one of two, maybe three teams that actually have the capital to pull off such a trade. The No. 2 pick or Stephon Castle? Maybe one, maybe not both? Maybe throw in Keldon Johnson and some firsts and call it a day?
Let’s be clear: that kind of offer isn’t just light — it’s insulting.
San Antonio, like every other team in the league, will need to overpay
If the Milwaukee Bucks ever reach the point of trading Giannis Antetokounmpo, the return package will have to be historic. Not fair. Not balanced. Historic. We’re talking superstar-plus kind of pricing. Giannis is still a top-three player in the league, still in his prime and still under contract. Any team trying to land him will need to overpay by a mile — or not bother picking up the phone at all.
And yes, that includes San Antonio.
You can understand the temptation. Pairing Giannis’ interior dominance with Wembanyama’s length and perimeter fluidity would be a cheat code. The Spurs know it. The Bucks know it. The rest of the league definitely knows it.
Which is exactly why Milwaukee would demand everything. They'd be right to, after all.
Let’s break the fantasy. The trade would most likely necessitate a starting offer of:
- The No. 2 overall pick: likely Dylan Harper
- Stephon Castle: a blue-chip rookie with All-Star potential
- Additional first-round picks: most likely unprotected
- Salary filler: likely including one of Keldon Johnson, Devin Vassell, or Jeremy Sochan
Unfortunately, in the same report, The Athletic concluded that the Spurs are still expected to hold onto the No. 2 overall pick in the 2025 NBA Draft. That particular asset would have been their wild card in a possible Giannis trade, which is precisely why this trade idea may be null and void before it's even discussed.
The point is, you don’t get Giannis Antetokounmpo for a second-tier rebuild package. You’re not swapping second options and hoping Milwaukee just decides they like your vibes. This is one of the greatest players of the modern era, still producing elite numbers and still good enough to anchor a championship team on either end of the floor.
Let’s not forget the other suitors. Houston has picks for days and has already signaled that they're poised to make a move for the Greek Freak. The Thunder have young talent and star power. The Nets are also always watching. San Antonio isn’t operating in a vacuum. If Giannis ever signals he’s ready to move, the Milwaukee Bucks won’t need to make concessions. They’ll sit back and let teams bid themselves into oblivion.
And unlike Dallas — who shipped off Luka Doncic in relative silence — Milwaukee won’t make the same mistake. They’ll squeeze every ounce of value from Giannis’ departure. That means they’ll demand both Castle and the No. 2. At minimum.
This isn’t Jrue Holiday we’re talking about. This isn’t a smart asset play to build gradually around Wemby. If the Spurs want to jump the line and become instant contenders, they’re going to have to pay the tax.
And right now, the discourse around San Antonio suggests fans — and maybe even some in the media — think they can get a superstar for just the No. 2 pick or just Castle. To be frank about it, that’s just not how this works at all. That’s not how any of this works.
Milwaukee doesn’t owe Giannis to the Spurs. They owe their fans a semblance of a post-Giannis future they can look forward to. If the Spurs aren’t willing to put everything on the table, someone else will.