Report: Toronto Raptors, Giannis Antetokounmpo share mutual interest

It’s been seven years since Masai Ujiri acquired Kawhi Leonard in a massive trade that altered the Toronto Raptors franchise forever and led to the team’s first NBA championship.

Could Ujiri pull off a similar move with Milwaukee Bucks superstar Giannis Antetokounmpo?

Ever since Milwaukee was ousted by Indiana in the first round of the 2025 playoffs, there has been rampant speculation on the future of Antetokounmpo. Multiple reports have surfaced about Antetokounmpo’s willingness to explore a trade to another team, preferably in the Eastern Conference.

Toronto has been one of the teams linked to Antetokoumpo from the start and the most recent reports, including in the Toronto Star, suggest Antetokounmpo shares mutual interest in joining the Raptors.

And why would the Bucks even consider moving Antetokounmpo? The franchise is simply at a crossroads. There’s a lot of uncertainty about the immediate future with Damian Lillard’s Achilles injury and whether Milwaukee’s championship window has closed. It might make more sense for the team to move off Antetokounmpo when his value is at its highest and gain some building blocks for the future.

So, what would it take to acquire Antetokounmpo? First off, he is under contract through the 2027-28 season, which means the Bucks will demand a massive haul in return for the 30-year-old superstar. ESPN has reported Toronto is looking to land a big fish this off-season, so the Raptors seem willing to make the kind of offer Milwaukee would be interested in.

It’s tough to see Toronto offering an attractive trade package that doesn’t start with Scottie Barnes, who is due to begin his five-year rookie max contract next season. That becomes a little less painful with the addition of a fully heathy Brandon Ingram to start the year, but it’s still a steep cost.

To make the salary work, the Raptors will likely also need to include RJ Barrett or the likes of both Gradey Dick and Ochai Agbaji. And remember, Toronto owns a slew of first-round picks that are very enticing if Milwaukee is going the rebuild route.

Of course, the Raptors won’t be the only team interested in Antetokounmpo if the Bucks decide to move him. The Spurs and Rockets specifically have the assets to outbid Toronto, but Antetokounmpo’s interest in staying in the Eastern Conference could offset any offer San Antonio or Houston make.

The most important part for the Raptors in any type of Antetokounmpo trade is putting together a package that doesn’t impact the team’s ability to win now. But, even if Toronto gives up Barnes, Barrett and Dick, a core of Antetokounmpo, Ingram and Immanuel Quickley surrounded by solid depth players is a championship caliber team.

It would be a tough trade to swing, but if the Raptors are serious about making a major move this off-season, it doesn’t get any bigger than the Greek Freak.