Heat trade deadline tracker: Bucks plan to keep Giannis Antetokounmpo past trade deadline
NBA trade deadline day is here.
No trades will be allowed this season after 3 p.m. on Thursday. But there has already been plenty of movement around the NBA, with a handful of big names traded in recent days.
The Heat hasn’t yet made a deal, but is still in the mix for a few of the biggest names on the trade market.
The Heat continues to pursue a trade for Milwaukee Bucks two-time NBA MVP and nine-time All-NBA forward Giannis Antetokounmpo.
The Heat has also been linked to Memphis Grizzlies two-time All-Star guard Ja Morant. But while the Heat has registered some level of interest in Morant in recent weeks, a league source made clear that Miami has prioritized its pursuit of Antetokounmpo.
The Heat, Golden State Warriors and Minnesota Timberwolves were believed to be the three teams most aggressively pursuing a trade for Antetokounmpo this week.
But the Warriors are out of the Giannis Antetokounmpo sweepstakes, according to ESPN’s Shams Charania.
“This marks the unofficial end of the Warriors’ pursuit of Giannis Antetokounmpo, team sources said,” Charania reported. “The Warriors made several offers over the past week, but came away with the impression over the past 24 hours that the Milwaukee Bucks won’t be moving Antetokounmpo at the deadline and pivoted to other plans, sources said.”
Instead, the Warriors pivoted to trade Jonathan Kuminga and Buddy Hield to the Atlanta Hawks for Kristaps Porzingis on Wednesday night.
What happens if the Heat can’t land Antetokounmpo and/or Morant? The Heat will then have some important decisions to make on how to move forward.
We’ll have live updates for you on the Heat’s doings throughout the day leading up to the 3 p.m. trade deadline:
12:15 p.m.: ESPN’s Shams Charania reported at noon on Thursday that the Milwaukee Bucks have told teams that they are keeping Giannis Antetokounmpo past the 3 p.m. trade deadline.
The Heat was among the team aggressively pursuing Antetokounmpo ahead of the trade deadline, but now Miami will need to pivot to its backup plan.
What is that backup plan?
The Heat has registered some level of interest in Memphis Grizzlies two-time All-Star guard Ja Morant in recent weeks, but prioritized its pursuit of Antetokounmpo. It remains to be seen if the Heat will now turn its attention to Morant or possibly just shedding expiring salaries like Andrew Wiggins ($30.2 million player option for next season) for assets.
The Bucks could revisit an Antetokounmpo trade this upcoming offseason, when the Heat and other teams will be able to offer more first-round picks in such a deal.
For example, the Heat could offer three first-round picks to the Bucks for Antetokounmpo this offseason because it could draft a player for the Bucks in June and then also include its 2030 and 2032 picks.
12 p.m.: In August, the Heat traded forward Haywood Highsmith and a 2032 second-round pick to the Brooklyn Nets for a protected 2026 second-round selection to escape luxury-tax territory.
On Thursday, the Nets waived Highsmith to make space on its roster for guard Ochai Agbaji, who they acquired from the Toronto Raptors in a trade.
But even though Highsmith is now a free agent, he’s not eligible to return to the Heat unless he joins another team in the interim because of NBA rules.
10:45 a.m.: ESPN’s Brian Windhorst says the Minnesota Timberwolves have “moved on” from their pursuit of Giannis Antetokounmpo.
This comes after the Timberwolves dealt Rob Dillingham, Leonard Miller and four second-round picks to the Chicago Bulls to acquire Ayo Dosunmu on Thursday morning.
But Windhorst believes the Heat are still in the mix for Antetokounmpo.
“The Miami Heat are still out there,” Windhorst said on ESPN’s First Take. “And the Heat, the last I heard, were still trying to make moves to improve their offer that they can make to Milwaukee. ... That said, the Heat can make a better offer, a more aggressive pick-rich offer later this summer. So teams in the league right now that it is most likely that Giannis stays put. But Miami is still there. And I want to point out that I will never put anything past Andy Elisburg, their GM, and the aggression of Pat Riley. So, keep an eye with Miami.”
10 a.m.: The Heat remains repulsed by the idea of taking a step back, with the hope of landing a better draft pick. But if the Bucks ultimately reject the Heat’s trade proposal for Antetokounmpo before today’s deadline, not making the playoffs would suddenly have a two fold benefit for the Heat:
1). Miami, naturally, would have a chance - through the draft lottery - to get a higher pick in a loaded draft than if it makes the playoffs. If the Heat wins in the play-in round and loses in the first round, Miami would pick no higher than 15th. If the Heat misses the playoffs, it could pick in the top 3 or the 11 to 14 range.
2). The only way the Heat could improve an offer for Antetokounmpo during the summer would be including its 2026 first round pick, something it cannot do now. There are no others players that Miami could offer to the Bucks this summer than it cannot offer now. Unlike many teams (including the Knicks and Wolves), there are no additional future (beyond 2026) first-rounders that the Heat could offer Milwaukee this summer that it cannot now.
So if the Bucks aren’t enticed enough by a Heat offer that it has been considering this week, the only way to improve that offer in June is by drafting a player for Milwaukee in June and sending that player to the Bucks. And the value of that asset will rise if the Heat misses the playoffs and thus gets a higher pick that it can forward to the Bucks or keep for itself.
So this is a case where missing the playoffs could have a two-fold benefit for the Heat, as opposed to advancing out of the play-in and facing long odds in a first-round series against Detroit, Boston, or less likely, New York.
9 a.m.: While it remains to be seen what the Heat will do before the trade deadline, a bunch of teams around the Eastern Conference have already made moves.
After trading away Trae Young last month, the Atlanta Hawks acquired Jonathan Kuminga and Buddy Hield from the Golden State Warriors in exchange for Kristaps Porzingis on Wednesday night. The Hawks also added Jock Landale as part of a three-team trade on Wednesday.
The Charlotte Hornets added Tyus Jones, Coby White and a few second-round picks.
The Philadelphia 76ers traded Jared McCain to the Oklahoma City Thunder in exchange for one first-round pick and three second-round selections.
The Washington Wizards traded a package that includes two first-round picks and three second-round selection to acquire Anthony Davis from the Dallas Mavericks. Davis now joins a revamped Wizards core that also includes Young and Alex Sarr.
The Cleveland Cavaliers sent Darius Garland to the Los Angeles Clippers to add James Harden.
The Boston Celtics traded Anfernee Simons to acquire Nikola Vucevic.
The Detroit Pistons added three-point shooting in the form of Kevin Huerter as part of a three-team trade.
This story was originally published February 5, 2026 at 9:01 AM.
