Giannis Antetokounmpo remains with the Milwaukee Bucks, but it’s possible that won’t be the case by the NBA trade deadline, or by the start of next season.

According to ESPN’s Shams Charania, the New York Knicks have emerged as the only team that Antetokounmpo desires outside of Milwaukee as he attempts to win a second championship in the NBA. While this report has yet to shift the odds for the NBA Finals in the 2025-26 season, it certainly makes the Knicks a team to watch as the campaign progresses.

New York (+850 to win the title) and Milwaukee (+5000 to win the title) are viewed on much different planes by oddsmakers when it comes to their chances of winning a title this season. There’s no doubt that adding Antetokounmpo to a roster that features Jalen Brunson would skyrocket the Knicks’ chances of winning their first championship in over 50 years.

However, DraftKings Sportsbook has not reacted to this recent Giannis report, keeping both team’s NBA title odds steady as of Tuesday morning.

According to Charania, the Bucks feared that Antetokounmpo would make a formal trade request this offseason because of his public and private comments about wanting to win another title. Milwaukee was creative in the offseason to give the two-time MVP some help, as it waived and stretched Damian Lillard’s deal (since he’s out for the 2025-26 season) to open up the necessary cap space to sign center Myles Turner.

In the offseason, the Knicks reportedly emerged as the only place that Antetokounmpo would want to play outside of Milwaukee, putting the Bucks in a precarious position should the star eventually request a trade.

“Ever since the NBA draft combine in mid-May, Alex Saratsis, an Octagon managing director and Antetokounmpo’s U.S.-based representative, has fielded rampant interest in Antetokounmpo and conducted serious due diligence on best possible outside fits should the star and his reps push to be traded from the Bucks,” Charania wrote. “Several teams were discussed internally, but one emerged as the only place Antetokounmpo wanted to play outside of Milwaukee: the New York Knicks, multiple sources with direct knowledge of the situation told ESPN.

“The Bucks picked up the Knicks’ call on Antetokounmpo, and the sides engaged in conversations for a window of time in August, league sources said, but the teams never got traction on a deal.

“The Bucks insisted to the Knicks that they preferred not to move Antetokounmpo, but those in Milwaukee believe New York did not make a strong enough offer to continue even discussing a trade, league sources said. It’s unclear how the Bucks would have responded to an all-out chase by the Knicks. The multiweek process was described by one source with direct knowledge of the talks as an exclusive negotiating window. New York, for its part, believes the Bucks never were serious about entertaining an Antetokounmpo trade, sources said.”

If the Bucks get off to a fast start in the 2025-26 season, it’s quite possible that Antetokounmpo will be content remaining with the franchise. However, Charania noted that both the Knicks’ pursuit of Giannis and the thought that he’d want to play in New York have been around for more than just one offseason.

“The Knicks have had an eye on Antetokounmpo for the past couple of years under president Leon Rose, who heads a front office that built the franchise into a perennial playoff contender since taking over in 2020,” Charania wrote. “People in league circles, including some in New York, have believed since 2024 that Antetokounmpo would eventually want to come to the Knicks if he ever explored a trade.”

Bettors likely should avoid the Bucks in the futures market this season since they have so many questions on their roster — especially in their backcourt rotation — around Giannis. However, there could be even more value in betting on the Knicks at +850 if a Giannis deal ends up happening in the middle of the 2025-26 season.

As the trade deadline approaches early next year, there’s no doubt that Antetokounmpo’s name will dominate the conversation in the NBA.

Odds refresh periodically and are subject to change.

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