We’re officially in trade season.
As of Dec. 15, players who signed new contracts/extensions in the offseason are now eligible to be traded.
And while erroneous mainstream narratives continue to focus on forcing Giannis out of Milwaukee, not a single report has corroborated earlier rumors from Shams Charania and Brian Windhorst that either party (the Bucks or Giannis) wants to part ways.
Alternatively, it appears that Giannis is committed to trying to win in Milwaukee for the time being. According to The Athletic’s Eric Nehm, the Bucks are adamantly seeking to improve their roster to support Giannis.
What Can the Bucks Trade?
The Bucks are severely limited in what they can bring to the table. With just one tradeable first-round pick (either 2031 or 2032), no tradeable second-round picks, and few desirable players on medium-sized deals, opposing teams aren’t exactly lining up to get a deal done with Milwaukee.
That being said, they are below the second apron, meaning they can aggregate multiple players’ contracts in a deal and take back up to 125% of outgoing salary. In practice, this means that they could send out Bobby Portis, Kyle Kuzma, and a veteran minimum (i.e Gary Harris) and take back up to $48.7 million worth of salary.
Because of the financial and asset limitations facing the Bucks, we won’t be throwing out the pipe-dream trades that your 16-year brother cooks up on his burner account. We’re not getting Lauri Markkanen for Kuzma, Portis, and a first-round pick.
We also didn’t include guys like LaMelo Ball, Zion Williamson, Ja Morant, etc, even if they are technically on the trade block. There just isn’t enough of a positional fit for these guys in Milwaukee to warrant giving up all available assets. Instead, these are realistic trades for players with some combination of skill limitations, bad contracts, off-the-court issues, and an injury history.
That’s not to say some of the guys below can’t move the needle — it’s just an honest evaluation of what the Bucks’ current assets could procure on the open market.
Herb Jones, F, New Orleans Pelicans
The 27-year-old forward is far from a distressed asset, but also doesn’t carry the same value he did after making an All-Defense team at 25.
Jones has battled the injury bug (as has most of the Pelicans organization), as well as the shooting bug. With his offensive production seemingly bottoming out so far in 2025 (he’s shooting just 39.5% from the field this season), Milwaukee might be able to snag Jones from New Orleans for just a single first-round pick and Bobby Portis.
Unfortunately for the Bucks, even if the asking price is within reach, a lot of teams will be giving Joe Dumars a ring over the next few months about Herb Jones. He’s still a game-changer defensively, and almost every contender could use someone with his talents.
Pelicans receive:
- Bobby Portis
- 2031 top-4 protected first-round pick
Bucks receive:
- Herb Jones
GG Jackson, F, Memphis Grizzlies
From an All-Rookie team just two seasons ago to completely out of the rotation, Horst has a chance to find this year’s Kevin Porter Jr. in the 20-year-old Jackson.
Come to think of it, there are quite a few similarities between Porter Jr. and Jackson. Both are uber-athletic guys who have dealt with their fair share of off-court issues and been buried behind deep guard rooms. In KPJ’s case, a backcourt of James Harden, Norman Powell, and Kris Dunn made finding minutes difficult.
For GG, the quick ascension of Jaylen Wells and Cedric Coward has made it difficult to earn minutes at the wing, especially as his shotmaking wavered last year. A change of scenery could be exactly what the doctor ordered for Jackson, who is still just 20 years old. The best part is, the Bucks can get this deal done without giving up a pick.
Grizzlies receive:
- Andre Jackson Jr
- Cash
Bucks receive :
- GG Jackson
Jerami Grant, F, & Robert Williams, C, Portland Trail Blazers
This comes down to one thing for the Blazers: money
Jerami Grant is owed over $100 million from today through 2027-28, including a player option for 2027-28. With Shaedon Sharpe and Toumani Camara‘s new contracts starting next season, the Blazers will need to get Grant’s deal off the books if they want any sort of cap flexibility over the next few seasons.
Insert the Bucks.
Kuzma’s deal only runs through 2026-27, making it a big cost saver for a Blazers team that will be entering their “window” in the next 2-3 seasons. On the Bucks’ end of things, you get a switchable forward in Jerami Grant who can knock down the three and create for himself off the dribble. He’s not prime Khris Middleton, but he’s a big step up in terms of defense and shot creation, and he’s been on the Bucks’ radar before.
Although Robert Williams isn’t a dealbreaker for the Bucks, he would be an ideal throw-in to replace Portis as the center off the Bucks’ bench. Despite being perennially injured (he’s appeared in just 42 games since the start of the 20223-24 season), he’s the type of player that can change an entire playoff series if healthy.
Blazers receive:
- Bobby Portis
- Kyle Kuzma
- Andre Jackson Jr. (or other expiring minimum contract)
- 2031 top-4 protected first-round pick
Bucks receive :
- Jerami Grant
- Robert Williams
Kawhi Leonard, F, Los Angeles Clippers
Two years ago, this would have been a scoffable proposition.
Now? Not so much. The Clippers are 6-20, good for the 14th seed in the Western Conference. With very few avenues to improve the roster and over $100 million of Kawhi’s contract on the books through 2026-27, blowing it up looks more and more likely.
This would be the ultimate Hail Mary for Horst. What teams sacrifice in terms of regular-season availability with Kawhi, they hopefully make up for in the postseason. In a wide-open East, all the Bucks have to do is get to the dance. A Giannis-Kawhi duo may only yield two healthy playoff series, but it’s the highest-ceiling play here, and the only play that could get them far in the Playoffs.
It could certainly end up biting the Bucks in the a**. If they’re going to go all-in, they might as well swing for the fences. A KPJ-Rollins-Kawhi-Giannis-Turner lineup is definitely the fences.
Clippers receive :
- Bobby Portis
- Kyle Kuzma
- Gary Harris
- Andre Jackson Jr.
- Lottery protected 2031 1st round pick
Bucks receive :
- Kawhi Leonard
Khris Middleton, F, Washington Wizards
One last dance. That’s all Bucks fans can ask for.
While a Middleton reunion would happen from a buyout with the Wizards instead of a trade, it just makes sense for both parties.
Middleton is on an expiring deal for the 4-20 Wizards. While he’s certainly a nice veteran presence for the locker room, the large contract on a lottery-bound team is a recipe for a buyout if Middleton so desires.
All it would take is a call from Giannis, and this probably gets done in early 2026. It may not move the needle, but it would be a homecoming unlike any other.
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