The Miami Heat have acquired Giannis Antetokounmpo from the Milwaukee Bucks in a major trade completed late Monday night. The deal sends Antetokounmpo and Bobby Portis to Miami in exchange for Tyler Herro, Kel'el Ware, Jaime Jaquez Jr., Kasparas Jakucionis, three first-round picks including the No. 13 selection in Tuesday's draft, a 2030 pick swap and a 2033 second-round pick. The transaction cannot be finalized until July 6.
Pat Riley secured another star for the Heat, adding to a list that includes Alonzo Mourning, Shaquille O'Neal, LeBron James and Jimmy Butler. The move pairs Antetokounmpo with Bam Adebayo to form a strong defensive frontcourt.
The Heat gave up significant young talent and future draft assets to complete the deal. Miami now faces roster gaps and must address free agents such as Norman Powell and Andrew Wiggins while seeking additional shooting and ball-handling.
Antetokounmpo, 31, averaged 27.6 points, 9.8 rebounds and 5.4 assists last season despite injury limitations. The Bucks begin a rebuild centered on the incoming players and picks.
Betting markets adjusted quickly, moving Miami to +1800 for the 2026-27 title and +600 to win the Eastern Conference.