The Atlanta Hawks haven't necessarily been at the forefront of Giannis Antetokounmpo trade rumors, but if they choose to enter the race, few teams will be able to compete. Atlanta can offer Milwaukee a combination of promising young talent, expiring salary, and perhaps the most coveted draft pick in the NBA.
If the Hawks ultimately decide to go all-in on said vision, then there's a realistic scenario in which they land one of the most decorated players in NBA history.
The potential offer is headlined by the 12-37 New Orleans Pelicans' 2026 first-round draft pick. Atlanta acquired the selection in the trade that ultimately brought Derik Queen to New Orleans. It's since become one of the most sought-after assets in the NBA.
By including it in a potential trade for Antetokounmpo, the Hawks would be gifting the Bucks what no other postseason-caliber team can: A realistic shot at the No. 1 overall selection in a stacked 2026 NBA Draft.
From there, Atlanta could include Kristaps Porzingis' expiring $30,731,707 salary. It could then add 25-year-old center Onyeka Okongwu, 20-year-old wing Zaccharie Risacher, and 20-year-old forward Asa Newell to sweeten the pot.
It'd be a steep price to pay, and Milwaukee may even request further draft compensation, but Atlanta's offer would border on impossible to match.
Pelicans' first-round pick gives Hawks unrivaled asset in Giannis trade
Milwaukee, which is already struggling at 18-27, is likely to hit the reset button once it trades Antetokounmpo. It's unclear what its next moves would be, but acquiring the Pelicans' first-round pick would give it a critical edge heading into a massive draft cycle.
If the trade were to transpire today, Milwaukee would have two 2026 first-round draft picks that currently place within the top seven in the lottery structure.
The Bucks would also be getting back the No. 1 overall pick in the 2024 NBA Draft in Risacher and a promising rookie in Newell. Both have shown flashes of intriguing potential and would have more freedom within the rotation in Milwaukee to develop their respective game.
Okongwu, meanwhile, is a talented two-way big who's still just 25 years of age and will make less than $17 million per season in 2026-27 and 2027-28.
Hawks can acquire Giannis without losing too much of its core
Compounded by the cap relief that Porzingis' expiring salary would provide, the Bucks' rebuild could turn into a retooling. They'd receive an influx of developable talent, financial flexibility, and even immediate value in the rotation.
All of that would be true before even factoring in the potential for having two top-seven picks in a draft class that's believed to be among the most talented in recent history.
It's unknown if the Hawks would be willing to pay this price, and it's not entirely clear if they should. By completing this trade, however, they'd build an elite interior with Antetokounmpo and Jalen Johnson, all the while holding onto the backcourt pairing of Nickeil Alexander-Walker and Dyson Daniels. For that matter, they could swap Newell and Risacher out and part with Daniels if they see fit.
Other teams will come up with intriguing packages, but the Hawks can turn the trade market on its head with a massive offer centered around the Pelicans' 2026 first-round pick.