If there is one thing to take away from the Miami Heat’s offseason, it’s that they remain infatuated by the prospect of trading for Giannis Antetokounmpo. And perhaps they should be.
There is an element of “Well, obviously” at play here. Giannis is a two-time MVP, and the Heat are nothing if not obsessed with acquiring their next great superstar. But their interest in The Greek Freak goes beyond pure wishful thinking, and could be rooted in some legitimacy.
Giannis is keeping the Heat and everyone else on the hook
Case in point: Despite the Milwaukee Bucks waiving and stretching Damian Lillard to help make room for Myles Turner this offseason, Giannis’ return isn’t yet assured. Or so says ESPN’s Shams Charania.
“Sources tell me there is nothing set in stone about whether Giannis Antetokounmpo wants to stay in Milwaukee, or whether he wants to leave elsewhere,” Charania explained Monday during an appearance on First Take. “He’s been evaluating his future this entire offseason. I reported way back in mid-May that he is open-minded about whether his best fit is in Milwaukee, or is it a trade elsewhere. That process has been continuing. There’s been some real conversations he’s having with his inner circle, from my understanding.”
On the latest around Giannis Antetokounmpo and the Milwaukee Bucks for @FirstTake: pic.twitter.com/o931Lih53V
— Shams Charania (@ShamsCharania) August 4, 2025
Somewhat buried in what feels like a non-update is Charania also mentioning that “there are multiple teams that I know of that are literally waiting right now on what decision Giannis Antetokounmpo makes.”
Never mind the logistics of how the Heat could land Antetokounmpo if he requests a trade. They are clearly one of the squads that has structured their offseason with the future of the superstar in mind.
It doesn’t take a rocket scientist to see what the Heat are up to
Miami pretty much announced its enduring interest in Antetokounmpo by refusing to put its best foot forward in Kevin Durant trade talks. From its unwillingness to include Kel’el Ware in packages to hemming and hawing over draft compensation, the team never truly seemed in on landing KD.
That makes sense…if they want Giannis. Not only is Durant entering his age-37 season, but pushing a deal over the finish line would have drained the Heat of assets they’d need to include in any package for Antetokounmpo.
This line of thinking has continued throughout the summer. Miami did not add any long-term money to its books. Rather than get into Duncan Robinson for multiple years, it flipped him to the Detroit Pistons for the expiring contract of Simone Fontecchio. Norman Powell will prove to be one of the league’s most valuable offseason additions, but he is also on an expiring contract, and did not cost the team any draft equity to land.
Andrew Wiggins has not gotten an extension that would put him on the books past 2025-26. (He has a 2026-27 player option.) Nikola Jovic extension rumblings are nonexistent. There has been very little chatter about Tyler Herro getting an extension once he’s eligible for one in October that would add years to his current agreement. Davion Mitchell received multiple years in his new deal, but he’s earning comfortably less than the mid-level exception, and will come off the books after 2026-27.
At every turn, the Heat have prioritized flexibility, and the retention of their best trade assets. They needn’t say the quiet part out loud for us to understand why. Their actions have made it clear that trading for Giannis Antetokounmpo is Plan A, and that they won’t do anything to undermine it until—or unless—he’s officially off the table.