Giannis Antetokounmpo is prepared to move on. That is the message behind a new round of reporting from ESPN’s Shams Charania, who says the Milwaukee Bucks superstar is “ready for a new home” either before the Feb. 5 trade deadline or in the offseason. The Bucks, once firm about keeping their two-time MVP, are now listening to aggressive offers.

This is a sharp turn from public denials of trade demands. Antetokounmpo, 31, had long said he wouldn’t ask out. But behind the scenes, he has told the Bucks for months that trading him is the best path forward. The team isn’t rushing. They may wait until the summer to chase a bigger return loaded with top prospects and draft capital.

One big-market suitor is already circling: the New York Knicks. League interest is wide, but New York’s mix of contracts and assets puts it in the conversation if the sweepstakes truly begin before the deadline.

Why the Bucks and Giannis reached this point

Milwaukee’s slide has been hard to ignore. The Bucks are 18-27 and sit 12th in the Eastern Conference, two spots below the play-in. Earlier this season, when the noise first grew, they were 9-13. The losing has worn on everyone — the front office, the staff, and the roster.

Giannis, who won back-to-back MVP awards and led the Bucks to the 2021 championship, initially bought into the vision of GM Jon Horst and coach Doc Rivers. But as the first 25 games unfolded and the losses mounted, the tone changed. As one source framed it to Charania, “the writing is on the wall” unless something dramatic flips the season.

“If they’re 12th in the East, how do you not explore every door?”

No formal trade request — but a clear shift

Antetokounmpo has been careful with his words in public. “There will never be a chance… that I will come out and say, ‘I want a trade,’” he told The Athletic previously. He also said, “My plan is to be here for the rest of my career… If they don’t want me… I am an employee.”

Those quotes show how he sees himself: loyal, team-first, and respectful of the business. But inside team talks, he has communicated that a trade may be the best outcome for both sides. That’s a major shift, even without a formal request. Milwaukee is taking calls. The clock to Feb. 5 is ticking.

Deadline or summer? Why waiting could pay

The Bucks are under no pressure to act now. They could hold to the offseason, when more teams gain clarity and more draft picks unlock. Post-draft, Milwaukee’s own tradable first-rounders are 2026, 2031, and 2033 — not a huge stash — so maximizing incoming picks and blue-chip prospects matters even more.

Waiting also invites creative multi-team deals. Star trades often get bigger in July, when cap sheets reset, picks roll over, and owners sign off on bold moves.

“Summer packages always beat deadline panic. The Bucks know it.”

The market: Knicks, Heat and others eye the Giannis sweepstakes

Interest in Antetokounmpo is a given across the league. The Knicks, per the latest chatter, are among the suitors prepared to explore paths. Cap-wise, New York sits about $10 million below the first apron and is hard capped. A clean match for Giannis’ $54.1 million salary likely starts with Karl-Anthony Towns ($53.1 million) plus a small extra piece to meet the 100% salary match rule that applies to apron teams.

Miami is another team to watch. A Heat package could be built around Tyler Herro, rookie big man Kel’el Ware, and future picks. Meanwhile, the Hawks sit roughly $14.8 million below the first apron and are also hard capped — a reminder that several Eastern teams are walking tight financial lines.

Beyond trades, there’s a longer runway. If Giannis declines a 2026 extension, he could reach 2027 free agency, with rumored interest spanning the Heat, Nets, Lakers, and Clippers. That possibility will color every call the Bucks take.

Cap and picks, made simple

Here’s the shorthand: Giannis makes $54.1 million. For apron-limited teams, NBA rules require matching near 100% of that incoming number. That’s why big contracts — like Towns — become the starting point in any serious Knicks idea, with a small extra salary to make the math work.

For Milwaukee, the return has to be worth a franchise reset. That means young, high-end talent and an arsenal of first-round picks. The Bucks’ own post-draft tradable firsts are 2026, 2031, and 2033, so the goal would be to restock with multiple prime picks from whichever bidder emerges.

“If the offer isn’t a king’s ransom, you wait. Simple.”

Reconciling the quotes with the moment

Fans will notice the contrast between Giannis’ public stance and this new reality. He has said he’ll never ask out, and technically he hasn’t. But telling the team a trade is best for both sides is a clear signal. It keeps his values intact while recognizing the Bucks’ slide and the limited paths to fix it quickly.

As Charania wrote, the franchise is now listening. And one source told him “the writing is on the wall” unless something dramatic changes. This is what the end of an era looks like in slow motion — unless a miracle run appears out of nowhere.

What’s next for Giannis and Milwaukee

The Bucks can still shop quietly through Feb. 5. If nothing reaches their price, they’ll revisit talks in July. By then, more teams can include future picks and players drafted in June, opening the door to the kind of package a player of this magnitude commands.

Giannis’ legacy in Milwaukee is secure — two MVPs and the 2021 title — but the next chapter is now in motion. Whether it ends at the deadline or stretches into the summer will depend on the quality of bids and how much the Bucks value patience over speed.

Bottom line: The league has been put on notice. The Bucks are listening. Antetokounmpo is ready. And if New York, Miami, or another heavyweight wants him, the price will be steep and the stakes even higher.