The race to acquire Giannis Antetokounmpo appears to have narrowed significantly, with the Miami Heat and Boston Celtics continuing to be viewed as the leading contenders in trade discussions with the Milwaukee Bucks, according to Marc Stein of The Stein Line.
While no agreement is believed to be imminent, both franchises remain heavily involved as Milwaukee evaluates its options regarding the future of its franchise cornerstone.
Around the league, there is a growing belief that the uncertainty surrounding Antetokounmpo’s status is influencing the broader trade market.
Executives from several teams reportedly expect movement on other potential deals to remain limited until there is greater clarity on whether the Bucks will ultimately move forward with a blockbuster trade.
Miami’s No. 13 selection in this year’s draft has been cited as one asset currently tied up by those ongoing conversations.
Should the Heat succeed in landing Antetokounmpo, the framework of their proposal is expected to include Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., and the No. 13 pick.
League observers also believe Miami has additional resources available and would be prepared to expand its offer if necessary to secure a player of Antetokounmpo’s caliber.
Boston, meanwhile, is thought to be presenting a package centered on Jaylen Brown. The Bucks have reportedly expressed interest in Hugo Gonzalez as well, making him another name to watch as negotiations continue between the two organizations.
Draft compensation remains a potential obstacle for the Celtics.
Milwaukee is said to prefer receiving a more valuable first-round pick than Boston currently owns at No. 27, prompting speculation that the Celtics could pursue separate trades designed to improve their draft position and strengthen their overall proposal.
Even so, there is a sense among some league sources that Boston remains firmly in the mix. One NBA source told Stein on Monday that the Celtics came out of the weekend “with a real shot” at completing a deal for Antetokounmpo based around Brown.
The same source indicated that Milwaukee could view Brown as a player worth building around directly, eliminating the need to involve a third team in order to redirect him elsewhere.
Heat, Celtics Remain In Advanced Trade Talks For Giannis Antetokounmpo https://t.co/ZSra8d0rQ9
— RealGM (@RealGM) June 22, 2026
