NBA executives told insider Marc Stein they believe Jimmy Butler of the Miami Heat and Giannis Antetokounmpo of the Milwaukee Bucks are prime candidates for the league’s next major trade move.
Butler holds a $53 million player option for the 2025-26 season but may choose to test free agency as early as next spring. This uncertainty has led “a variety of executives” to consider the Heat star a potential trade target, according to Stein.
Antetokounmpo’s name has also surfaced, though Stein characterized it as “wishful thinking” by teams hoping that, as with past speculation, the Bucks could reach a breaking point that leads the two-time MVP to seek an exit.
Stein’s report comes just days after the NBA’s latest blockbuster trade, which saw Karl-Anthony Towns head to the New York Knicks while Julius Randle moved to the Minnesota Timberwolves.
Antetokounmpo signed a three-year, $186 million extension last season, keeping him under contract for at least the next two seasons, with a $62.8 million player option for the 2027-28 season. Speculation about his future with the Bucks has lingered since their 2021 championship, as the team has not advanced past the second round in three attempts since then.
Milwaukee has only made one playoff run since trading for former Trail Blazers star Damian Lillard in 2023. Both Lillard and Antetokounmpo were sidelined for parts of the team’s first-round exit last spring. The Bucks may need another strong postseason run—this time with both stars healthy—to convince Antetokounmpo that the team remains a viable contender for the title.
As for Butler, his future remains uncertain after he chose not to extend his contract before the 2025-26 season, which includes a player option, as reported by Shams Charania in June for The Athletic. Butler made it clear he wouldn’t extend with Miami or any other team, according to Charania, which would reduce the return the Heat could get in a trade. However, the Heat reportedly have “shown no interest” in trading him regardless.
Stein’s report aligns with a recent comment from ESPN’s Tim MacMahon, who mentioned on the *Brian Windhorst & The Hoop Collective* podcast that “eyes are on Jimmy Butler” across the league as a possible marquee trade candidate.
With Butler reportedly choosing not to sign an extension before his player option, any team trading for him would be investing in a short-term rental with a history of injury concerns. Despite these risks, it seems NBA executives are still closely monitoring the possibility of a deal for the veteran Heat star.
