The confetti from the 2021 NBA Championship feels increasingly distant for the Milwaukee Bucks. Once the undisputed kings of the league, validated by Giannis Antetokounmpo`s Finals masterpiece, the franchise now finds itself staring down a precipice in the summer of 2025. The path forward is murky, fraught with financial complexity, a depleted asset pool, and recent on-court disappointments.
The Current Predicament
For seven consecutive seasons, the Bucks have maintained a level of contention, a remarkable feat in the modern, cap-strapped NBA landscape designed to prevent prolonged dominance. Yet, the recent trajectory is concerning. Three straight first-round playoff exits speak to a team that has lost significant steam since its championship peak. The brutal reality is that over the last four years, despite spending nearly a billion dollars in combined salaries and luxury taxes, the team has secured just one playoff series win.
Adding to the woes is the state of the roster. Key acquisitions designed to bolster their championship window have come at a steep price, not just in salary but in future flexibility. The team`s well of first and second-round draft picks is essentially dry for the next six years, severely limiting their ability to inject young talent or make significant trades involving draft capital. Furthermore, the significant contract of Damian Lillard looms large, particularly after a devastating torn Achilles injury in April, leaving his future contribution uncertain as he is due $54 million next season.
These accumulated challenges paint a clear picture: the status quo is likely untenable. The weight of the franchise`s legacy, intrinsically tied to Giannis Antetokounmpo`s presence, rests heavily on the shoulders of the front office. As Hall of Fame architect David Griffin once remarked regarding LeBron James, there`s a “sacred trust” to capitalize on a superstar`s prime. The question now is whether the Bucks can uphold that trust given their constraints.
Two Divergent Paths
The summer presents the Bucks with essentially two high-stakes options:
- Aggressively pursue roster improvements around Giannis, despite the limitations.
- Explore the possibility of trading Giannis Antetokounmpo and initiating a franchise reset.
Reinforcing the Core: A Challenging Endeavor
While the latter option is the headline-grabber, sources suggest the Bucks` primary inclination remains to build *around* Antetokounmpo. The challenge, however, is immense. With the payroll dominated by Antetokounmpo, Lillard, and the recently acquired Kyle Kuzma (in a pre-deadline swap), roughly 79% of the team`s salary is tied up in three players.
Their primary tools for external improvement this offseason are the non-tax midlevel exception (estimated at $14.1 million) and the biannual exception ($5.1 million). These exceptions can attract useful role players or temporary replacements for injured stars, but they are unlikely to net the kind of impact player needed to vault the team back into championship contention. Retaining valuable free agents like Brook Lopez and Bobby Portis while utilizing these exceptions will also prove difficult.
Trade possibilities are equally constrained. The expiring $9.4 million contract of Pat Connaughton offers some flexibility, but complex CBA rules limit the ability to package it with smaller deals to acquire a high-salaried player. Any significant incoming salary might require including Lopez or Portis in a sign-and-trade scenario, further depleting their depth.
While they can aggregate contracts thanks to the Kuzma deal, finding a trade partner willing to take on large, potentially negative-value salaries while the Bucks take back impact players – all without offering meaningful draft capital – is akin to finding a needle in a very large, very expensive haystack. The margin for error is non-existent; every move must be a bullseye.
The Giannis Decision: Reshaping the League
Then there is the seismic option: trading Giannis Antetokounmpo. While he has not publicly requested a move, the current trajectory of the team coupled with his championship aspirations cannot be ignored. If the front office concludes that their limited tools prevent them from building a true contender around him in the immediate future, exploring a trade might become a necessary, albeit painful, consideration.
A Giannis trade would arguably be the biggest transaction in NBA history since Kevin Durant moved to Golden State, or perhaps Kawhi Leonard to Toronto. It would completely reshape the league`s power structure. The return package for a two-time MVP and perennial All-NBA player in his prime would be nothing short of historic.
Potential Trade Landscapes
Teams lining up for Giannis would need a war chest of assets. The packages would undoubtedly revolve around multiple unprotected first-round picks stretching years into the future, often combined with pick swaps to maximize the return regardless of future team performance. This addresses the Bucks` most glaring weakness: their lack of draft capital.
Complementing the draft picks would be a combination of promising young cornerstone players – players with All-Star potential still on favorable rookie contracts or early extensions. Think of teams with emerging young stars and a surplus of future picks accumulated from previous trades or their own high draft selections.
Potential trade partners could include franchises with abundant draft assets looking for their first true superstar, teams with young stars they deem expendable in pursuit of a guaranteed MVP-level talent, or even multi-team blockbusters involving other stars to facilitate the movement of assets and salaries. The complexity would be immense, involving salary matching, draft pick protections, and intricate negotiation.
Such a trade would allow the Bucks to replenish their asset pool dramatically, acquiring the draft picks needed for a genuine rebuild and young players to form the nucleus of a new era. It`s the ultimate pivot, sacrificing immediate contention for the potential of future sustained success – a difficult proposition when a player like Giannis is on your roster.
Conclusion
The 2025 offseason looms as the most critical period for the Milwaukee Bucks since drafting Giannis Antetokounmpo over a decade ago. The path of least resistance – running it back with minor tweaks – appears increasingly challenging given the team`s financial and asset limitations. The alternative – a trade involving their franchise icon – is a high-stakes gamble with the potential for an astronomical payoff in future assets, but one that would undeniably sting the fanbase and mark the end of an unforgettable era.
The pressure is palpable. The decisions made this summer will define the Milwaukee Bucks franchise for the next decade, determining whether they find a way to recapture championship glory around their “Greek Freak” or embark on a lengthy journey to rebuild the foundation from scratch.
