Which trade reshaped the NBA more than any other this offseason? The Milwaukee Bucks sent Giannis Antetokounmpo to the Miami Heat on June 22, 2026, one day before the NBA Draft.
What did each side receive?
Miami added Giannis and forward Bobby Portis. Milwaukee received Tyler Herro, Kel’el Ware, Jaime Jaquez Jr. and Kasparas Jakučionis.
The Bucks also picked up the 13th pick in the 2026 Draft. They added first-round picks for 2031 and 2033, a first-round swap for 2030 and a second-round pick in 2033.
How big was the return, by the numbers?
Milwaukee’s haul totaled four players, three first-round picks and one first-round swap. That package is the largest volume of assets moved in any single deal of the 2026 offseason.
For more on how teams evaluate trade value, see this look at how analytics changed shot selection in basketball.
Why did the Bucks move on from Giannis?
Giannis played only 36 games in 2025-26. A hyperextended left knee, suffered in March, kept him off the floor for long stretches.
Milwaukee missed the playoffs for the first time since 2015-16.
He leaves behind 13 straight seasons in Milwaukee. In that stretch he became the franchise’s career leader in games, points, rebounds and assists, and helped the Bucks win the 2021 title.
The numbers behind that run are stark: 895 games, 21,531 points, 8,882 rebounds, 4,484 assists and 1,088 blocks, all franchise records.
When did the deal become official?
The sides agreed in principle on June 22. The trade became official on July 6, 2026, when the new league year opened, according to the NBA’s official report.
What happened at his introduction in Miami?
The Heat introduced Giannis at a press conference on July 16, 2026, about three weeks after the initial agreement.
He now plays alongside Bam Adebayo. At 31, he joins a Heat team that finished 43-39 last season and has not won a playoff series since 2023.
Team president Pat Riley told reporters the club paid a significant price but considers Giannis worth it. “We landed the plane. Now there’s another one we have to land,” Riley said.
Which other trades round out the offseason?
Charlotte sent LaMelo Ball and Josh Green to Minnesota for Naz Reid, one day after the Draft.
Ball arrived coming off five straight seasons averaging more than 20 points a game. He posted 20.1 points, 7.1 assists and 4.8 rebounds across 72 games in 2025-26.
The Lakers sent Deandre Ayton to Washington for Jaden Hardy after LeBron James left the roster.
Other deals sent Kawhi Leonard from the Clippers to Toronto, Paul George from Philadelphia to Boston, Jaylen Brown from Boston to Philadelphia and Ja Morant from Memphis to Portland.
The men’s trade market was not the only story this summer. Basketball’s growth also showed up on the women’s side, detailed in this piece on the biggest attendance boom in league history.
When does the new season begin?
Free agency opened officially on June 30, 2026. The 2026-27 regular season is set to tip off on October 21, 2026.
