The Houston Rockets have the chance to shake up the NBA this offseason, being involved in trade rumors for Milwaukee Bucks superstar Giannis Antetokounmpo. The Bucks could be looking to move on from their homegrown star after back-to-back-to-back first-round exits.
The Rockets have all of the pieces to make such a deal, but the Bucks could also want pieces from another team. The New Orleans Pelicans have pick swaps on Milwaukee’s first-round picks in 2026 and 2027, so a potential Antetokounmpo deal could reel them in. New Orleans wrapped a rough 21-61 season, and could also be looking to move on from its own star, Zion Williamson.
All three teams have the opportunity to benefit from a trade, with the Rockets going into win-now mode while the Bucks and Pelicans get insurance for the future.
Pelicans receive: Fred VanVleet, Jabari Smith Jr., Reed Sheppard, 2027 first-round pick (via PHX), 2027 second-round pick (via MEM), 2028 second-round pick (via HOU)
Bucks receive: Zion Williamson, Jalen Green, Kelly Olynyk, 2026 and 2027 first-round picks back from NOP, 2028 first-round pick (top-five protected via HOU)
Rockets receive: Giannis Antetokounmpo, Kyle Kuzma
The Pelicans would have the lowest risk in this trade, moving on from an injury-riddled Zion Williamson while getting plenty of assets for the future. Jabari Smith Jr. and Reed Sheppard have the potential to make a major impact, while New Orleans would also be getting back draft capital.
Fred VanVleet hurts the Pelicans’ salary cap, but it’s worth it. This would also be assuming they explore deals for CJ McCollum.
The Bucks wouldn’t be hitting the reset button at full force, but there’s plenty of insurance for the future. Williamson is an injury risk, but Jalen Green is just 23 years old with his three-year, $106 million extension setting in.
Yes, losing Antetokounmpo is hard, but the ultimate prize for the Bucks is getting their 2026 and 2027 first-round picks back with no swaps, plus another pick from Houston in 2028. Milwaukee would swap out Antetokounmpo for a combination of young stars and draft capital, which is ideal for such a trade.
The Rockets would be giving up a lot, but they wouldn’t be going all the way in, considering the team keeps youngsters such as Alperen Sengun, Amen Thompson, and Cam Whitmore. They’d also keep the Phoenix Suns’ 2025 lottery pick.
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