Giannis Rumors Intensify as Knicks Weigh Assets and Ambition
As Giannis Antetokounmpo’s future in Milwaukee grows uncertain, the New York Knicks are emerging as an aggressive suitor — but assembling a viable trade package presents significant challenges.
- Glenn Catubig
- 4 min read
The Giannis Antetokounmpo sweepstakes have moved from speculative background noise to a defining storyline of the NBA season, and the New York Knicks are once again squarely in the conversation. With the Feb. 5 trade deadline approaching and reports indicating Antetokounmpo is open to a move, league executives are closely monitoring which teams are positioned to make a credible offer.
For New York, the intrigue is familiar. The Knicks have been loosely connected to Antetokounmpo for several years, but this season’s chatter has carried more weight, fueled by both Milwaukee’s uncertain direction and New York’s steady rise in the Eastern Conference standings. A franchise long defined by restraint is now facing a moment that may demand boldness.
Yet ambition alone will not be enough. Any deal for Antetokounmpo would likely require a franchise-altering haul, especially if the Bucks choose to fully reset their roster. That reality complicates matters for the Knicks, who are limited by a thin collection of future draft assets due to prior trades and the constraints of the NBA’s Stepien Rule.
Still, league insiders believe New York has pathways to remain competitive in negotiations. Rather than leaning solely on draft capital, the Knicks may be forced to leverage something just as valuable: elite, win-now talent already under contract.
1. A Complicated Asset Puzzle
The Knicks’ biggest obstacle in a potential Antetokounmpo trade is structural. Over the next seven years, New York controls only three of its own unprotected first-round picks, a relatively light stash compared to rival bidders with deeper draft inventories. Those limitations narrow the team’s margin for error in any blockbuster discussion. The Stepien Rule further complicates matters, preventing teams from trading first-round picks in consecutive future seasons. That restriction means even the picks New York does control cannot easily be bundled together without creative maneuvering or third-team involvement. Milwaukee, meanwhile, would almost certainly prioritize flexibility and long-term upside in any Antetokounmpo deal. Draft picks, young players, and salary relief would be central to that calculus, raising legitimate questions about whether the Knicks can compete with teams better positioned for a rebuild-focused return. Despite those hurdles, New York’s front office has a reputation for patience and creativity. The challenge is no longer whether the Knicks are interested — it is whether they can turn limited resources into a compelling offer without undermining their own competitive future.
2. Anunoby, Towns, and Trade Value
According to ESPN NBA insider Tim Bontemps, the Knicks’ most powerful leverage may not be picks at all. Instead, players like OG Anunoby — and potentially Karl-Anthony Towns — could be used to unlock additional assets through complex, multi-team constructions. Anunoby, 28, is widely regarded as one of the league’s premier perimeter defenders and a reliable three-point shooter, making him a coveted piece for contending teams. While he is not a franchise centerpiece like Antetokounmpo, his ability to seamlessly elevate elite rosters dramatically boosts his league-wide value. Bontemps noted that Anunoby could command “a metric ton” of assets on the open market, particularly from title hopefuls seeking a final piece. In theory, New York could flip Anunoby for draft capital elsewhere, then reroute those assets to Milwaukee in a broader deal. Towns presents a different but equally significant lever. As one of the Knicks’ highest-paid players, his contract could serve as both salary ballast and a talent upgrade for teams looking to reset. Together, Anunoby and Towns give New York optionality — albeit through deals that would require intricate negotiation and precise timing.
3. Timing, Momentum, and Risk
Any major move would come as the Knicks are enjoying one of their strongest stretches in years. New York is currently tied with the Boston Celtics for second place in the Eastern Conference at 29–18, a position earned through defensive consistency and roster continuity. That success complicates the decision-making process. Trading core contributors midseason risks disrupting chemistry, especially with the Knicks in the midst of a demanding stretch that includes 10 games in 16 days and four contests remaining before the deadline. Financially, the mechanics are equally daunting. Antetokounmpo’s $54.1 million salary would require New York to shed significant money to comply with second-apron restrictions, making Anunoby and Towns — earning $39.6 million and $53.1 million respectively — the most logical outgoing pieces. The Knicks face a familiar crossroads: preserve a strong, ascending team or push their chips in for a generational superstar. With Antetokounmpo’s availability no longer theoretical, the cost of standing still may be as consequential as the risk of acting.