The Atlanta Hawks could emerge as a significant contender in the potential Giannis Antetokounmpo trade market, according to a new proposal that outlines one of the few paths for the Milwaukee Bucks to recoup their lost draft assets in the event the two-time MVP asks out.
ESPN’s Kevin Pelton detailed a scenario in which Atlanta’s unique control over multiple future Milwaukee picks positions the Hawks as a rare team that can improve the Bucks’ short-term outlook while offering a foundation for a post-Antetokounmpo rebuild.
Under Pelton’s proposed construction, Atlanta would acquire Antetokounmpo and Cole Anthony, while Milwaukee would receive Trae Young, No. 1 overall pick Zaccharie Risacher, and a slate of future draft assets attached to the Bucks–Pelicans pick swaps.
Atlanta Hawks get:
Giannis Antetokounmpo
Cole Anthony
Bucks get:
Trae Young
Zaccharie Risacher
2026 first-round pick (via better of Pelicans and Bucks)
2027 first-round pick (top-four protected, via worse of Pelicans and Bucks)
2029 first-round pick (top-four protected 2029 to 2031, unprotected in 2032 if not conveyed)
2031 first-round pick (top-four protected in 2031 if eligible, otherwise unprotected in 2032)Note: Trade cannot be completed until Dec. 15
Why Atlanta Is Considered a Unique Fit
“The Hawks have the unique ability to help Milwaukee regain its own picks as part of a post-Giannis rebuild,” Pelton wrote, noting that Atlanta controls favorable draft outcomes in 2026 and 2027 through the downstream effects of the Jrue Holiday trade five years ago.
Pelton argues Atlanta could become the Eastern Conference favorite if the deal materialized, but also cautioned the Hawks on setting a hard limit to protect their future.
“Milwaukee would surely ask for Wisconsin native Jalen Johnson in trade talks, but I would hold the line there if I’m the Hawks,” Pelton wrote. “Sending out a budding star in Johnson…for just two guaranteed years of Antetokounmpo in a non-glamour market would be too much to ask.”
Pelton additionally noted that Young could be flipped to a third team or offer cap relief for Milwaukee as early as this summer, depending on salary timing and contract decisions.
Trae Young Extension Uncertainty Adds Fuel to Trade Speculation
GettyTrae Young is currently sidelined with an injured knee.
This scenario arrives amid an offseason where Atlanta made little progress toward a contract extension with Young — the first summer under new general manager Onsi Saleh. That lack of movement sparked questions regarding Young’s long-term future, though the All-Star guard publicly downplayed concerns.
“I’m not worried about it,” Young told ESPN in October. “I can only control the present. And I know if we win, everybody eats.”
Adding to the complexity: Atlanta has been winning without Young on the floor.
Young has been sidelined with a sprained MCL, and the Hawks — led by emerging forward Jalen Johnson — are 11–7 in his absence after beginning 1–3 following the injury. Young, 27, is earning $46 million this season with a $49 million player option in 2026–27 and remains eligible for a four-year, $229 million extension through June 30.
Will Hawks Get Aggressive in Giannis Pursuit?
The proposal adds a new layer to a crowded potential market, as the league monitors the Milwaukee conversation with Antetokounmpo and evaluates whether the Hawks, Knicks, or Spurs could become the most aggressive bidder.
For Atlanta, the question remains whether the organization is willing to trade its past to secure its future — and whether the possibility of adding one of the NBA’s most dominant forces is worth reshaping the franchise once again.
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