Portland Trail Blazers have quietly emerged as one of the more surprising names connected to the growing trade discourse around Giannis Antetokounmpo. According to Marc Stein of The Stein Line, Portland has formally expressed interest to the Milwaukee Bucks about acquiring the two-time MVP, even while fully acknowledging how unlikely it would be to convince Giannis to commit long-term in the Pacific Northwest.
“Portland has also expressed its own interest to the Bucks that it would like to acquire Antetokounmpo … even as the Blazers realistically understand that it would be an extreme long shot to convince Giannis to sign a contract extension that keeps him in the Pacific Northwest.”
“The far more likely scenario remains Portland participating in such a deal as a facilitator to snag an impact veteran (or two) as part of a multi-team trade structure. It should be noted, though, that the Blazers do have Jrue Holiday and Damian Lillard on their roster, two players who have maintained a closeness with Milwaukee’s star.”
“Yet we repeat: The Blazers continue to be regarded as a plausible facilitator if an Antetokounmpo deal reaches the finish line in the next five days. As we’ve been reporting since last weekend, Portland has long admired the likes of New York’s Mikal Bridges as a potential backcourt partner alongside Lillard and have a player in Holiday that the Knicks and other teams believe would enhance their chances of getting Antetokounmpo to their franchise if Holiday can also be acquired from Portland.”
This is not a typical superstar pursuit. League insiders are clear that Portland does not realistically expect Antetokounmpo to sign an extension there. Instead, the more plausible outcome is the Blazers positioning themselves as a critical facilitator in a multi-team deal, using their unique leverage to land impact veterans as the Giannis dominoes fall elsewhere.
And Portland’s leverage is very real.
Even if a Giannis-to-Blazers outcome still feels unlikely, the league has been reminded this season that nothing is guaranteed anymore. The shock of the Luka Doncic trade reset the mental math around superstar movement. Deals once considered impossible are now at least discussable, and front offices are far less willing to rule things out outright.
Portland’s asset base only strengthens that case. Beyond controlling Milwaukee’s future, the Blazers own the Bucks’ 2029 first-round pick outright, plus swap rights in 2028 and 2030. On top of that, Portland still has its own first-round picks in 2027, 2029, and 2031, along with the Orlando Magic’s 2028 first-rounder.
As Giannis trade speculation intensifies ahead of the Feb. 5 deadline, those picks have become some of the most valuable assets tied to any potential deal.
Milwaukee wants young players and draft capital if it parts with its franchise star. Rebuilding is nearly impossible without access to your own picks, and Portland happens to be holding them as well.
The Blazers also have a deep pool of young talent that could legitimately interest a Bucks front office staring down a rebuild. Players like Deni Avdija, Shaedon Sharpe, Toumani Camara, and Donovan Clingan all fit the age and upside profile Milwaukee would likely prioritize if it moves on from Giannis. That kind of depth gives Portland multiple ways to construct or support a deal without emptying its entire cupboard.
There are also relationship layers that quietly matter. Portland currently has Damian Lillard and Jrue Holiday on its roster, two players who maintain strong ties with Antetokounmpo from their time in Milwaukee. While that familiarity is not enough to overcome market realities, it does make Portland more relevant in conversations where optics and comfort play a role.
All signs still point toward Antetokounmpo preferring Eastern Conference destinations, and league chatter continues to suggest his top options are clustered there. On paper, that makes a Portland landing improbable. Still, the Blazers’ control of Milwaukee’s draft future keeps them firmly in the conversation. Even if Giannis never seriously considers the Pacific Northwest, Portland’s leverage means it can shape where he does end up.
At this stage, that alone makes the gamble logical. With the Bucks’ picks, real young talent, and the league’s recent reminder that assumptions can collapse overnight, Portland might as well push its chips in and see what happens. In today’s NBA, certainty is a luxury no one actually has.
