Giannis trade tiers -- What every NBA team can -- and can't -- offer the Bucks - ESPN

Will the 2025 NBA offseason be known as the summer of Giannis Antetokounmpo?

For the first time in his career, Antetokounmpo is open-minded about exploring whether his best long-term fit is remaining with the Milwaukee Bucks or going elsewhere, league sources confirmed to ESPN's Shams Charania on Monday.

Antetokounmpo is under contract for the next three seasons, with 2027-28 as a player option. The 30-year-old two-time MVP will be eligible to sign a four-year, $293.4 million extension in the 2026 offseason — with the Bucks or with a potential new team.

What happens next is a waiting game — in Milwaukee and around the league. And with just hours until a highly anticipated draft lottery (7 p.m. ET, ESPN), this saga could take another twist after the pingpong balls decide which franchises will get the opportunity to select top prospects such as Cooper Flagg, Dylan Harper and Ace Bailey.

Antetokounmpo will meet with the Bucks in the next month, and the other 29 teams will internally line up trade scenarios if the 2021 Finals MVP is made available. (The last time an NBA team traded a former MVP in his prime was in January 2021, when the Houston Rockets sent James Harden to the Brooklyn Nets.)

An important reminder for teams chasing Giannis this summer: Any franchise without salary cap space would have to send Milwaukee at least $43.5 million in salary and remain below the first apron.

Which franchises have the draft capital, the contracts and the young stars to swing a deal with Milwaukee? To set the stage, we have broken up the league's 30 teams into nine tiers, starting with the Bucks.

Note: Player salaries are reflective of the 2025-26 season.

The Bucks have been on the clock to put a championship roster around