The Miami Heat have acquired two-time NBA MVP Giannis Antetokounmpo from the Milwaukee Bucks, according to multiple reports.
In exchange for the 10-time All-Star, the Bucks will reportedly receive Tyler Herro, Jaime Jaquez Jr., Kel’el Ware, Kasparas Jakučionis and three first-round picks. The Heat will also reportedly receive forward Bobby Portis in the trade.
Antetokounmpo, 31, averaged 27.6 points, 9.8 rebounds and 5.4 assists per game in an injury-riddled 2025-26 season. He played only 28.9 minutes per game, his fewest since his rookie season, and appeared in only 36 games, the lowest mark of his career.
Without their star, the Bucks finished the season 32-50, missing the playoffs for the first time since 2016.
Miami also missed the playoffs in 2026, failing to make the postseason for the first time since 2019.
Antetokounmpo, the league’s Most Valuable Player in 2019 and 2020, has reportedly flirted with trade requests for much of the last year. Last summer, ESPN reported Milwaukee engaged in discussions with the New York Knicks about a potential trade. Antetokounmpo’s name came up again at the February trade deadline, with the Bucks ultimately opting to keep him through the end of the regular season.
After having won a championship in 2021, Antetokounmpo has struggled to find success in the playoffs, failing to make the conference finals since.
In 2022, Milwaukee lost to the Boston Celtics in a seven-game second-round series.
In 2023, the Bucks were upset by the eighth-seeded Heat in the first round.
In both 2024 and 2025, Milwaukee was eliminated in the first round by the Indiana Pacers.
The Bucks, meanwhile, made bold moves to placate Antetokounmpo over the years.
Three years ago, the team broke up its championship-winning core, trading guard Jrue Holiday for Damian Lillard. During the 2023-24 season, Milwaukee also fired head coach Adrian Griffin only 43 games into his tenure and replaced him with Doc Rivers.
Last offseason, Lillard was waived to facilitate the signing of center Myles Turner. And this year, Rivers and the team agreed to part ways at the end of the regular season.
Miami has also struggled to contend in recent years. After having reached the NBA Finals in 2023, the Heat have won only one playoff game over the last three years.
Antetokounmpo, a member of the NBA’s 75th anniversary team, is one of the best two-way players in league history. In addition to his two MVPs and 10 All-Star selections, he is a former Defensive Player of the Year and has earned seven All-NBA First Team and four All-Defensive First Team honors.
In 2021, Antetokounmpo led Milwaukee to its first NBA title since 1971. He won Finals MVP, averaging 35.2 points, 13.2 rebounds and 5.0 assists per game in a six-game series against the Phoenix Suns.
