Giannis Antetokounmpo and his agent, Alex Saratsis, are having conversations with the Milwaukee Bucks about the two-time NBA MVP's future -- and discussing whether his best fit is staying or a move elsewhere, sources told ESPN on Wednesday.
A resolution to these talks is expected in the coming weeks, sources said, which will shape whether Antetokounmpo is available ahead of the Feb. 5 trade deadline.
Antetokounmpo came into the season having bought into the championship-roster vision of general manager Jon Horst and coach Doc Rivers. Before the campaign started, sources said Antetokounmpo would examine the Bucks' first 25 or so games and make decisions on his long-term future, depending on whether the team showed signs of competing in the Eastern Conference.
Rivers on Wednesday said "there's been no conversations" and that Antetokounmpo "loves Milwaukee and he loves the Bucks."
The Bucks are 10-13, having lost eight of their past 10 games, and are in 10th place in the East. Several sources have characterized the losing as frustrating for Antetokounmpo and the team's front office, the coaches and the rest of the players. But one source with direct knowledge of the situation described it as "the writing is on the wall" on the inevitable outcome for Antetokounmpo unless there is a dramatic turn of events in the Bucks' season.
"Giannis has never asked to be traded. Ever. I can't make that more clear," Rivers said. "... We're trying to win games. Listen, we've lost -- the reason this is out is because we're not playing well. ... We're not playing well. We had a tough loss the other night and so now this is the subject matter. It's no more true than it was this summer."
Over the offseason, Antetokounmpo explored external options and was open to playing for one team outside of Milwaukee -- the New York Knicks -- as a potential trade home. Sources described it as an exclusive negotiating window for the Knicks over a multiweek period in August, but that will not be the case moving forward.
Multiple other teams would be expected to emerge as suitors for the nine-time All-Star if trades are explored.
On Oct. 1, 2026, Antetokounmpo will be eligible for a four-year, $275 million maximum extension through the 2030-31 season. If he is moved, he'd be able to sign the same deal with another team six months after a trade.
During the past training camp, Antetokounmpo acknowledged the temptation of joining another team, reiterating a desire to compete for a championship. So even though he emphasized his commitment to Milwaukee then, he left a window open stating that it would be "human to change his mind."
Milwaukee, meanwhile, believed a strong season would be enough to quell trade speculation for its superstar, and the team raced out to a 4-1 start. The Bucks, however, haven't been able to sustain that level of competition, especially without Antetokounmpo on the floor.
Forward Bobby Portis noted the Bucks had a team meeting Wednesday morning amid the recent struggles.
"There was way more lows than highs over the last couple of weeks," Portis said after Wednesday's 113-109 win over the Detroit Pistons. "So definitely knowing that tonight was a huge game, wanted to come out here and have everybody on the same page. Lots going on, a lot of chatter, a lot of media chatter, whatever it is. So, just trying to keep guys mind right. Keep guys together."
The Bucks went 0-4 when Antetokounmpo had to sit out four consecutive contests with a groin injury last month. Overall, the Bucks have a 2-5 record in games without Antetokounmpo. Even with Antetokounmpo back in the lineup over the past week, the Bucks had gone 1-2 entering Wednesday night, which includes a loss to the previously 2-16 Washington Wizards on Monday.
The Bucks' victory on Wednesday was overshadowed by the latest injury to Antetokounmpo, who strained his right calf in the first quarter and was ruled out for the rest of the night.
Milwaukee's offense is averaging 126.9 points per 100 possessions with Antetokounmpo on the floor, which would lead the NBA, but 107.7 points per 100 possessions when he is not on the floor, which would rank third to last in the league.
Antetokounmpo, who will turn 31 this week, is averaging 30.6 points, 10.7 rebounds and 6.4 assists on 64% shooting.
ESPN's Jamal Collier contributed to this report.