If the Miami Heat make a blockbuster trade before the Feb. 5 deadline, it will likely be for Milwaukee Bucks superstar Giannis Antetokounmpo instead of Memphis Grizzlies star guard Ja Morant.
Heat Prioritizing Giannis Antetokounmpo
Appearing on FanDuel’s Run It Back, The Athletic’s Sam Amick reported Friday that the Heat are shifting focus away from Morant to potentially go all-in to acquire Antetokounmpo.
“We’re getting close to the perfect recipe for everything he said not happening, happening,” Amick said. “It’s not just the level of disconnect of him and the Bucks, at the same time some of the teams that are in the running, their circumstances have changed.
“I don’t really see a Knicks deal happening, but they’ve lost 9-12 and you naturally start going ‘oh boy.’ Miami signaling they’re not going to pursue Ja Morant shows you they still have some level of hope when it comes to Giannis.”
However, the Bucks won’t trade Antetokounmpo unless he asks to be moved.
. @sam_amick on Giannis' trade suitors:
"When you see the Knicks lose 9 of 12, naturally you go, 'Oh boy.' … Miami signaling they're not gonna pursue Ja Morant shows they still have hope for Giannis. The Warriors' white whale is Giannis." pic.twitter.com/NYhrHlbxYg
— Run It Back (@RunItBackFDTV) January 23, 2026
Per Spotrac, Antetokounmpo remains under contract through 2027-28, but he can become a free agent in the 2027 offseason if he declines his $62.8 million player option.
Since Giannis is earning $54 million this season, the Heat would have to offer the Bucks at least one of Tyler Herro, Bam Adebayo, Terry Rozier, Andrew Wiggins, or Norman Powell in a deal for salary-matching purposes.
Rozier is not an appealing trade candidate due to his underwhelming play and gambling investigation, but Miami could send Herro, Adebayo, and future first-round picks to Milwaukee for Antetokounmpo.
Bucks, Antetokounmpo Still Discussing Future
ESPN’s Shams Charania also said during Friday’s edition of The Pat McAfee Show that Antetokounmpo and the Bucks have had “ongoing conversations” about his future since May 2025.
“Recently these conversations about his future have only intensified,” the NBA insider said.
"The frustration that Giannis Antetokounmpo has is at an all time high..
I've been hearing for months that the writing is on the wall for Giannis and the Bucks..
It's just how do they get there and when do they get there" ~ @ShamsCharania #PMSLive https://t.co/NEVeIgR26c pic.twitter.com/mNQV97nURA
— Pat McAfee (@PatMcAfeeShow) January 23, 2026
During Bucks media day before the season, Antetokounmpo expressed his desire to win a second NBA title and confirmed reporting from Charania that he was “open-minded” over the summer about exploring whether his “best long-term fit” was in Milwaukee or somewhere else.
“The same thing I’ve been saying my whole career, I want to be in a team that allows me and gives me a chance to win a championship,” Antetokounmpo said then. “I think it’s a disservice to basketball, just to the game, to not want it to compete in a high level, to want your season to end in April.”
Milwaukee Has Struggled This Season
The Bucks (18-26) have been anything but competitive this season.
Milwaukee has lost five of its past six games. The Bucks also sit 11th in the Eastern Conference standings, trailing the Atlanta Hawks by 2½ games for the No. 10 seed.
“The frustration that Giannis Antetokounmpo has is at an all-time high,” Charania added. “I’ve been hearing for months that the writing is on the wall for Giannis and the Bucks. It’s just how do they get there and when do they get there.”
Hours after Antetokounmpo was announced as an All-Star for the 10th time in his NBA career on Monday, reporters asked how confident he is in finishing the season in Milwaukee.
“I don’t know, I take it day by day,” Antetokounmpo said, following a 112-110 win over the Atlanta Hawks on Martin Luther King Jr. Day, in which he helped Milwaukee end its three-game skid with 21 points and 17 rebounds.
Giannis Suffered Another Calf Injury
What could be changing everything is Antetokounmpo’s latest injury.
Antetokounmpo revealed after Milwaukee’s 102-100 home loss to the Denver Nuggets on Friday night that he wasn’t able to finish the game due to a right calf injury.
The Bucks star told reporters that he expects the calf injury will sideline him for at least four to six weeks. The nine-time All-Star is slated to undergo an MRI on Saturday for further evaluation.
This means the Greek Freak will not be returning until after the trade deadline and All-Star weekend. The season appears to be a lost cause, and desperate times call for desperate measures.
In December, Antetokounmpo also missed three weeks because of a right soleus strain, the same injury that sidelined him for Milwaukee’s first-round series with the Indiana Pacers during the 2024 playoffs.
The Bucks are 3-11 this season without Antetokounmpo.
