The Milwaukee Bucks, a team with championship aspirations anchored by Giannis Antetokounmpo, find themselves in a precarious position as the 2025 NBA postseason looms. Despite their talent, the Bucks’ ability to make significant trades during or after the postseason is severely constrained by a combination of financial restrictions, limited trade assets, and roster challenges.

The Salary Cap Straitjacket: Second Apron Restrictions

The Bucks’ financial situation is one of the primary roadblocks to executing trades. As of the 2025 NBA season, the Bucks are operating above the second apron of the salary cap, a threshold set at $188.931 million. Teams above this line face draconian restrictions under the NBA’s new CBA, designed to curb excessive spending by high-payroll teams. These restrictions include:

• No Salary Aggregation: The Bucks cannot combine multiple players’ salaries to match the salary of an incoming player in a trade. This limits them to one-for-one player swaps or trading a single player for a package of lower-salaried players, severely narrowing their trade options. For example, trading for a high-salary star would require moving a single high-salary player like Damian Lillard or Brook Lopez, which is complicated by their value to the team and their contracts.
• Limited Trade Flexibility: To regain the ability to aggregate salaries, the Bucks would need to shed approximately $6.499 million to get below the second apron. This is easier said than done, as it would likely involve trading a valuable player like Bobby Portis ($12.578 million) or Pat Connaughton ($9.423 million) without taking significant salary back, which is challenging given their limited trade assets.
• Tax Penalties: As a taxpaying team for several years, the Bucks face a hefty luxury tax bill, which discourages adding salary through trades. Any move that increases their payroll would amplify this financial burden, making cost-neutral or cost-reducing trades a necessity.

The Bucks’ trade of Khris Middleton before the 2025 trade deadline, which brought them below the second apron, temporarily alleviated some restrictions by allowing salary aggregation in future trades. However, their payroll remains high, and they are still close to the second apron threshold, meaning any significant trade could push them back into restricted territory. This delicate balance limits their ability to pursue impactful players without shedding substantial salary first.

A Depleted Asset Cupboard

Even if the Bucks could navigate the salary cap restrictions, their lack of tradeable assets makes it difficult to construct appealing trade packages. The Bucks have been aggressive in recent years, trading away draft picks and young talent to build around Giannis. As a result, their asset pool is critically low:

• Draft Picks: The Bucks have almost no draft capital to offer. They own only their 2031 first-round pick and second-round pick, with all other picks either traded or encumbered with swap rights. For instance, their 2028, 2029, and 2030 first-round picks were traded or swapped in the Damian Lillard deal. This scarcity makes it nearly impossible to sweeten trade offers, as draft picks are a primary currency in NBA trades.
• Young Talent: The Bucks’ roster lacks young, high-upside players who could entice other teams. Their 2024 draft picks, AJ Johnson and Tyler Smith, are still developing and have not yet established themselves as valuable trade chips. MarJon Beauchamp, a 2022 first-round pick, was traded at the 2025 deadline, further depleting their pool of young talent. Without promising prospects, the Bucks struggle to offer long-term value in trades.
• Tradeable Veterans: The Bucks’ most likely trade candidates are veterans like Bobby Portis and Pat Connaughton. Portis, with a $13.445 million player option for 2025-26, is a proven scorer but may not fetch a significant return due to his likely opt-out and the Bucks’ inability to attach picks. Connaughton, with a $9.423 million player option, is less appealing due to his declining production and the high cost (estimated at three to four second-round picks or a late first-rounder) to dump his contract. These players are useful but not game-changers in trade talks.

The lack of draft picks and young talent means the Bucks must rely on player-for-player swaps, which are difficult to execute when their tradeable players are either too valuable to the team (e.g., Lillard, Lopez) or not valuable enough to other teams (e.g., Connaughton).

Roster Challenges and Trade Feasibility

The Bucks’ current roster, while talented, presents additional hurdles for postseason trades. Their key players—Giannis Antetokounmpo, Damian Lillard, Brook Lopez, and Kyle Kuzma—are either untouchable or difficult to move for various reasons:

• Giannis Antetokounmpo: As the franchise cornerstone and an MVP candidate, Giannis is not going anywhere unless he demands a trade, which would signal a complete rebuild. Posts on social media suggest growing pessimism about the Bucks’ future, with some fans speculating that a first-round exit could lead to a Giannis trade request. However, trading Giannis would be a last resort, not a postseason strategy, and would require an unprecedented return that the Bucks’ limited assets couldn’t match in a counter-trade.
• Damian Lillard: Acquired in a blockbuster trade in 2023, Lillard’s fit with the Bucks has been underwhelming, and his recent health issues (blood clots in his calf) and suspected Achilles injury have diminished his trade value. His massive contract, which extends through 2026-27 at over $58 million per year, is a significant obstacle, especially given his age (34) and recent performance dip. Trading Lillard would likely require attaching assets the Bucks don’t have, making it an unlikely postseason move.
• Brook Lopez: At 37, Lopez remains a valuable defensive anchor, but his $23 million expiring contract is a double-edged sword. While it could be used to match salaries in a trade, his age and the Bucks’ need for a center make him difficult to replace. Trading Lopez would require receiving a comparable big man in return, which complicates deal structures.
• Kyle Kuzma: Acquired in the Middleton trade, Kuzma has underperformed, shooting a career-low 42% from the field and 28.1% from three. His $23 million contract, which runs through 2026-27, is a tough sell for other teams, especially given his poor fit with the Bucks’ current roster. Trading Kuzma so soon after acquiring him would be an admission of a failed trade, and his low trade value makes it unlikely to yield a significant upgrade.

The Bucks’ supporting cast, including Taurean Prince and Delon Wright, consists of minimum-salary players or veterans with limited trade appeal. This lack of depth and tradeable talent leaves the Bucks with few options to retool their roster without dismantling their core, which would undermine their championship aspirations.

The Middleton Trade: A Double-Edged Sword

The Bucks’ blockbuster trade of Khris Middleton at the 2025 trade deadline was a pivotal moment that both alleviated and exacerbated their trade challenges. In exchange for Middleton, rookie AJ Johnson, and a pick swap, the Bucks acquired Kyle Kuzma, Patrick Baldwin Jr., and a 2025 second-round pick from the Washington Wizards. This trade had significant implications:

• Financial Relief: The trade brought the Bucks’ payroll below the second apron, granting them the ability to aggregate salaries in future trades. This was a critical step, as it removed the one-for-one trade restriction and opened up more deal structures.
• Loss of a Key Contributor: Middleton, despite his injuries and declining play, was a proven playoff performer and Giannis’ longtime running mate. His departure left a void in shot-creation and clutch scoring, which Kuzma has failed to fill. The trade was seen as a disappointment by some analysts, who noted Middleton’s importance to the team’s postseason success.
• Kuzma’s Poor Fit: Kuzma’s inefficient scoring and poor three-point shooting have made him a liability in Milwaukee’s system. His contract, while more manageable than Middleton’s, is still a challenge to trade due to his underwhelming performance.

While the Middleton trade provided some financial flexibility, it did not address the Bucks’ core issues—lack of draft picks, young talent, and roster depth. It also highlighted the difficulty of finding trade partners willing to take on the Bucks’ contracts without significant sweeteners, which Milwaukee cannot provide.

The NBA Trade Market and Postseason Timing

The timing of postseason trades adds another layer of complexity. The NBA trade deadline for the 2024-25 season was February 6, 2025, meaning any “postseason” trades would occur in the offseason (typically June to October). However, the Bucks’ ability to make impactful moves in this period is limited by the following market dynamics:

• Competitive Trade Market: The 2025 trade market saw significant movement, with stars like Luka Dončić, Anthony Davis, and Jimmy Butler changing teams. The Bucks, lacking the assets to compete for such players, are at a disadvantage against teams like the Nets, who have cap flexibility and multiple first-round picks to pursue stars like Giannis if he becomes available.
• Postseason Performance Pressure: The Bucks’ postseason success (or lack thereof) will heavily influence their trade strategy. A third consecutive first-round exit, as feared by some analysts, could force the Bucks to consider drastic moves, but their limited assets make it difficult to pivot without trading Giannis or Lillard. Posts on social media reflect this sentiment, with fans and analysts suggesting the Bucks have “no path forward” without trading Giannis.
• Offseason Constraints: In the offseason, the Bucks could theoretically sign buyout players or make smaller trades, but the same financial and asset limitations apply. Teams above the second apron face restrictions on signing buyout players to more than $12.8 million, and the Bucks’ lack of roster spots and tradeable contracts limits their flexibility.

The Bucks’ inability to compete in a star-driven trade market, combined with their postseason performance pressure, makes it nearly impossible to execute game-changing trades without a major overhaul. Also quite importantly, other teams are looking for players that have proven themselves in the playoffs, not just regular season stat padders. Giannis , even in the extremely lucky championship run, cannot really claim to be a playoff monster any way you look at it.

Strategic Considerations and Alternatives

Given these constraints, the Bucks face a strategic dilemma. Here are the potential paths forward and why they are challenging:

• Stand Pat: The Bucks could opt to run it back with their current core, hoping for better health and chemistry. However, their 48-34 record and fifth seed in the East, coupled with a disappointing playoff showing (down 0-2 to the Pacers), suggest this approach may not yield a championship.
• Trade a Star: Trading Lillard or Lopez could free up salary and bring in new talent, but their contracts and recent performance make it difficult to find takers without attaching assets the Bucks don’t have. Trading Giannis would signal a rebuild, which is unlikely given the franchise’s commitment to contending. Also Giannis is a crowd pleaser and they may want to milk him as long as possible for that.
• Small-Scale Moves: The Bucks could target low-cost veterans or buyout players, as they did with Delon Wright and Taurean Prince. However, these moves are unlikely to address their core issues—lack of athleticism, perimeter defense, and shot-creation—especially against elite Eastern Conference teams like the Celtics and Cavaliers. The gap is growing all the time, especially since Giannis doesn’t seem able to improve his game in terms of individual skills or teamwork.
• Draft and Develop: With limited trade options, the Bucks could focus on developing AJ Johnson and Tyler Smith, but these players are years away from making a significant impact. The Bucks’ lack of draft picks also hampers this strategy.

Each path is fraught with challenges, underscoring the near-impossibility of making impactful postseason trades without a major shift in strategy or an unexpected windfall (e.g., a team willing to take on Kuzma or Connaughton without significant compensation).

Giannis is the key…and the cause of the problems

The Milwaukee Bucks’ hopes of making significant postseason trades in 2025 are dashed by a perfect storm of financial restrictions, depleted assets, and roster challenges. The NBA’s second apron rules handcuff their ability to aggregate salaries, their lack of draft picks and young talent limits their trade appeal, and their high-salary veterans are either too valuable to trade or not valuable enough to fetch a meaningful return. The Middleton trade, while providing some flexibility, has not solved their core issues, and the competitive trade market further diminishes their chances of landing a game-changer. As the Bucks face a critical postseason, their path to improvement lies more in internal growth and minor tweaks than in blockbuster trades—a sobering reality for a team with championship ambitions.

Giannis has demanded a lot of moves both in coaches and players. After saying he won it “the right way” and claiming it was no “superteam” (even though it clearly was) he proceeded to try and make a superteam while at the same time showing no flexibility or basketball IQ in order to gel a team together. He has focused on his personal stats and promotion while destroying the trade value of everyone else on his team. So he has put himself in a hole: leave the team he has ruined for the future or stay and play the lone superhero on a team that keeps losing?