Well, to the delight of many basketball fans, the Giannis Antetokounmpo saga has finally reached its conclusion. According to ESPN’s Shams Charania, the two-time NBA Most Valuable Player is headed to Miami, along with Bobby Portis. In exchange, the Bucks receive four players and multiple draft picks as the franchise embarks on a rebuild. Below is a look at how this transaction will affect fantasy basketball in 2026-27.
The Heat are sending to Milwaukee unprotected first-rounders in 2031 and 2033 along with No. 13, a pick swap in 2030 and a 2033 second-rounder, according to sources.
— Shams Charania (@ShamsCharania) June 23, 2026
The trade does not include any additional teams -- it is a one-to-one move, sources said -- but both the Heat… https://t.co/qsxVhBh9gp
Miami receives:
Giannis Antetokounmpo
Bobby Portis
Antetokounmpo is the centerpiece of this trade, as he joins the list of marquee players that lead executive Pat Riley has acquired via trade or free agency since joining the franchise in 1995. When healthy, Giannis is one of the most dominant players in the NBA, and he can offer top-10 fantasy value to those willing to ignore the poor free-throw percentage. However, he was limited to 36 games last season and has not advanced past the first round of the playoffs since 2022.
One question for Miami with this move is how the partnership between Antetokounmpo and Bam Adebayo will work out, given that neither offers much in the way of floor spacing. Their respective fantasy values should be fine, but that may be an issue for some of the other Heat players in Erik Spoelstra’s rotation.
Re-signing Norman Powell takes on added importance because of his shooting ability, and a return to Miami could raise his fantasy ceiling. Andrew Wiggins, who shot a career-high 41.4 percent from three last season, may see.his usage take a hit, but there may be more catch-and-shoot opportunities for him. And while he has not been the most consistent perimeter shooter since entering the league, Davion Mitchell‘s steals production may receive a boost with him playing in a lineup that has two potentially dominant defenders.
Portis came off the bench on most nights in Milwaukee, which limited his fantasy ceiling, and that’s likely to remain the case in Miami. However, offering reliable late-round value in standard leagues should not be too much to ask of the veteran forward, especially with his ability to space the floor.
Milwaukee receives:
Tyler Herro
Kel’el Ware
Jaime Jaquez Jr.
Kasparas Jakučionis
2026 first-round pick (No. 13 overall)
2030 first-round pick swap
2031 unprotected first-round pick
2033 unprotected first-round pick
2033 second-round pick
Milwaukee gets considerably younger with this trade, and Herro offers the highest fantasy ceiling if he remains. There have been some conversations that the Bucks could look to move the guard elsewhere; if he stays, Herro immediately becomes Miami’s best scoring option. While his efficiency could suffer in that scenario, the sheer volume of opportunities could compensate.
Ware’s per-game fantasy value last season was nothing to scoff at, but inconsistent effort and production affected his playing time. Maybe a change of scenery will do the young 7-footer some good, but there is a roadblock in the form of incumbent Myles Turner. Even with Turner’s rebounding struggles, his presence may limit how much Ware plays unless the Bucks make more changes.
Jaquez, runner-up for NBA Sixth Man of the Year last season, could see his fantasy ceiling raised, especially if he’s given the opportunity to start. The 18th overall pick in the 2023 draft started just one of the 75 games he appeared in last season, but he still recorded career-highs in points, rebounds and assists. While not a lock to finish next season as a top-100 player, Jaquez’s chances of doing so increase substantially with the reported trade.
Jakučionis should retain his dynasty league value, but his redraft league value could be at the mercy of what the Bucks do with their two 2026 first-round picks. Add in Ryan Rollins being under contract and Kevin Porter Jr. holding a player option, and Jakučionis’ playmaking opportunities could be limited.
BONUS: Jaylen Brown remains in Boston
This is an interesting aspect of the reported transaction. Multiple reports in recent days have indicated that the Celtics were making a concerted effort to acquire Antetokounmpo. And Charania reported that Boston offered Brown, who’s coming off the best season of his NBA career to date, and two first-round picks to get a deal done.
The Celtics aggressively pursued Giannis, offering Milwaukee a package featuring 2024 Finals MVP Jaylen Brown and two first-round picks, sources tell ESPN. The Bucks seriously negotiated with two finalists in recent weeks: Miami and Boston, which were both on Antetokounmpo’s list… https://t.co/BVY37MwP4K
— Shams Charania (@ShamsCharania) June 23, 2026
Obviously, Milwaukee went in another direction. So, what does Boston do? And how will Brown react to the team offering him up? The Celtics can bet on their ability to mend fences with the star wing, especially if he doesn’t write this off as simply being “business.” Or, they could continue to seek out a new home for Brown while continuing to rely on Jayson Tatum and Derrick White to lead the way. This will make for an interesting offseason in Beantown.
