The Milwaukee Bucks continue to sit at the center of the NBA rumor mill, largely because of the uncertainty surrounding Giannis Antetokounmpo. While most of the league’s attention has been fixed on blockbuster scenarios involving their franchise star, Milwaukee has quietly been exploring smaller, more pragmatic moves behind the scenes. Two names that have surfaced in those discussions are Cam Thomas and D’Angelo Russell.
According to Michael Scotto of HoopsHype, the Bucks have been working through a series of ‘margin’ trades. The idea is not necessarily to swing for a star, but to flip veteran minimum contracts or minor assets into higher-salaried players who still fit under the team’s room below the luxury tax. In some cases, that could mean taking a chance on upside. In others, it could mean helping another team shed salary in exchange for draft compensation.
Within that framework, Thomas and Russell have emerged as contingency targets, depending on how other conversations unfold.
Thomas is the more intriguing swing. He has already shown he can score in volume. Milwaukee’s offense has been a major issue this year, ranking fourth-worst in the league at 111.8 points per game, so the appeal is obvious. Even this season, in a down year by his standards, Thomas is averaging 16.1 points, 1.8 rebounds, and 3.1 assists while shooting 39.9$ from the field and 31.8$ from three for the Brooklyn Nets.
Thomas is on a one-year, $6 million deal after failing to secure a long-term extension last offseason. He effectively bet on himself, and so far, the return has been mixed. Still, he has a no-trade clause, meaning any deal would require his approval. For the Bucks, he represents a buy-low scorer who could juice their offense immediately, especially if Giannis remains on the roster and continues to command defensive attention.
Russell, on the other hand, would be more about flexibility than scoring punch. Currently with the Dallas Mavericks, Russell is averaging 10.2 points, 2.4 rebounds, and 4.0 assists in just 19 minutes per game, while shooting 40.5$ from the field and 29.5% from deep. He is on a two-year, $11.6 million contract, earning $5.6 million this season with a $5.9 million player option for 2026–27.
If Milwaukee were to pursue Russell, the logic would be clear. The Bucks could offer Dallas luxury-tax relief and help clear that future player option, while potentially receiving second-round draft capital in return. Russell would give Milwaukee another ball-handler, though his efficiency and defensive concerns make him far from a clean solution.
The Bucks have also been loosely connected to bigger names like Zach LaVine and Ja Morant, but nothing substantial has materialized on those fronts. And that gets to the core issue. All of this trade chatter only really makes sense if Giannis stays.
If Antetokounmpo is ultimately moved, chasing mid-tier guards becomes irrelevant. At that point, the franchise would be looking at a reset, not short-term patchwork.
For now, Milwaukee appears stuck in between. Exploring Cam Thomas and D’Angelo Russell signals a front office trying to stay competitive without fully committing to either direction. Whether that balancing act holds depends entirely on what happens next with Giannis.
