Winners, Losers from Giannis Antetokounmpo Trade Between Milwaukee Bucks, Miami Heat

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The Miami Heat and Milwaukee Bucks are finalizing a blockbuster trade involving superstar forward Giannis Antetokounmpo. The Heat are sending Tyler Herro, Jaimie Jaquez Jr., Kel’el Ware, Kasparas Jakuncionis, the 13th pick in the 2026 NBA Draft, two more first-round draft picks, one pick swap, and one second-round pick for Antetokounmpo and Bobby Portis, as reported by ESPN’s Shams Charania. It is a massive move that gives Miami one of the biggest superstars in the NBA.

Below, we dive into the winners and losers from the Antetokounmpo trade between the Bucks and Heat.

Winner: Miami Heat​

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The Heat are the biggest winners of this Antetokounmpo trade. After years of trying to acquire the 31-year-old superstar, Miami finally closed the deal late Monday night. Now, the Heat have paired Antetokounmpo with Bam Adebayo. It arguably becomes one of the best duos in the NBA, as Miami chases a return to the NBA Finals.

Loser: Boston Celtics​

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The Boston Celtics are the biggest losers. After putting Jaylen Brown in an aggressive trade offer for Antetokounmpo, the Celtics lost the star to one of their biggest NBA rivals. This is a very gut-wrenching development for Boston, which now faces the consequences of making Brown available in a trade. Now, the Celtics have to find a way forward with Brown.

Winner: Giannis Antetokounmpo​

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Apr 12, 2026; Philadelphia, Pennsylvania, USA; Milwaukee Bucks forward Giannis Antetokounmpo reacts during the game against the Philadelphia 76ers at Xfinity Mobile Arena. Mandatory Credit: Kyle Ross-Imagn ImagesCredit: Kyle Ross/Imagn Images

Whether Antetokounmpo wanted to make it public or not, he wanted to change teams this offseason. The Heat were one of the teams he was willing to commit to moving forward, and joining Adebayo in Miami should scare the Eastern Conference. There will be plenty of eyes on Antetokounmpo as he jumps to one of the league’s biggest markets.

Loser: Milwaukee Bucks​

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The Bucks are undoubtedly losers. Any team trading away Antetokounmpo should be deemed a loser, even if they acquired a very strong package. Milwaukee will be taking a step back from contention, while acquiring a plethora of assets for Antetokounmpo. It was arguably the right package for their future, as the Bucks have to move forward in the post-Antetokounmpo era now.

Winner: Pat Riley​

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This is Pat Riley‘s Mona List. The Heat have been searching for a superstar over the last seven years and landed the biggest one available to this point. Miami pulled off one of the biggest trades of the last decade, sending out a ridiculous amount of value. However, it is worth it for Antetokounmpo, as Riley and company look to contend for another NBA Finals.

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