It wasn't that long ago that the Milwaukee Bucks were considered one of the top teams in the NBA. Giannis Antetokounmpo, a two-time NBA MVP, an NBA Finals MVP, and a multi-time All-Star, led the franchise to an NBA Championship. He has continued to be a dominant player ever since, making it to the playoffs in 10 of his 12 years with the Bucks.
A lot has changed for the Bucks since the championship. The following season saw them ousted in the second round by the Boston Celtics. For the next three playoffs, the Bucks could not make it past the first round. Even worse, the team only managed to scare up a total of four playoffs victories across those three seasons. That's more like getting crushed than losing.
Endless injuries to stars, rapid changes at head coach, and the inability to build a team around the Greek Freak are all contributing factors to the Bucks' woes. Now, the team is entering a full-fledged rebuild cycle with the potential loss of several players, including three starters who might be on their way out the door.
Big changes coming to the Milwaukee Bucks
Everyone and their grandma is aware of the seemingly endless trade rumors surrounding the Giannis. Every day, his name is attached to a different team and the next someone close to him is saying he's staying put. Honestly, no one outside of hardcore Bucks' fans would blame him if he left. The franchise is wasting his prime years by not building a better team around him. Yet, he might stay under the right condiditons.
But it's not just Giannis. Damian Lillard was brought into the Bucks in 2023 to be the Robin to Giannis's Batman. Unfortunately, Dame has spent a significant amount of time injured, including both of the Bucks' playoff runs during his tenure. During the first round of the 2024/25 NBA Playoffs, Lillard sufferer a non-contact torn Achilles tendon that may keep him on the sidelines for all of 2025/26.
On top of that, there are nine current roster members who are going to be free agents this offseason, including five unrestricted free agents. Brook Lopez, a long-term member of the roster, is expected to leave, potentially heading to the Lakers, who desperately need a center of his pedigree. Gary Trent Jr. is also an unrestricted free agent, another starter who could command big money on the open market. Rumors have the Knicks looking at bringing him in to shore up their backcourt.
If Giannis does leave, Dame remains stuck on the bench, and only four of those nine players leave in free agency, the 2025/26 Bucks are going to look a lot different than what fans have been used to seeing. Yet, that might be exactly what the franchise needs to become more competitive. It's looking more and more like the Bucks are going to pull the trigger on a full-on rebuild in one form or another.
Planning for the next decade
As it stands right now, the roster as is for 2025/26 has an estimated salary of $165 to $170 million. Naturally, a lot of that money is tied up in Giannis and Dame. But that number puts them more than $70 million below the second apron next season. Combine that with the number of free agent players, and the team has a lot of room to maneuver in the process of building a new contender.
Yes, it would be nice to keep Giannis. He remains one of the top ten players in the league, but that only counts for something if he wants to be there. If the Greek Freak has lost confidence in the program, they're not getting him back on board at this point.
The best thing for the franchise is to try to trade him for as many first-round draft picks as possible. Maybe even a new All-Star who isn't Kevin Durant. There's also the question of what to do with Lillard.
There's also the question of what to do with Lillard. Perpetual injuries combined with an inability to succeed in the postseason have tainted Damian's brand in the league. The Bucks aren't going to get much in a trade while he's on the bench with an injury that may have already ended his season. He has a player option in 2026/27, so the best move for the franchise might just be waiting.
As for all the free agents, the Bucks need to decide what their near future looks like and decide if these players fit in. Trent is going to be a tough call. He's not going to make Giannis money but he is going to want a financial upgrade in his contract. Unless the Bucks believe the impact Gary can have on their future plans is huge, this is likely another best to move on situation.
The all-new, all-different Milwaukee Bucks
Change is coming to Milwaukee this off-season. How much remains to be seen. As it stands, all the trade rumors around Giannis remain rumors. A thing isn't a thing until it's a thing. Fans will have to wait and see how Dame's current injury pans out, though no one is holding their breath on a 2025/26 return.
And free agency is a fickle game. Time will tell who stays and who goes, though the departures of both Gary Trent Jr. and Brook Lopez seem likely. As always, the draft situation is confusing at best, with many future picks tied up in various trade clauses.
Regardless, free agency opening the door to new talent isn't a bad thing. A variety of players are unrestricted free agents or have player options this off-season, including Ty Jerome, Luke Kornet, Myles Turner, Gary Payton II, and Nickeil Alexander-Walker. This is just the tip of the iceberg for the number of talented players on the market.
No matter what happens, the Bucks will abide. Whether the team is led by Giannis or another star player, this is a franchise that will find its way back to the top of the league. The path getting there might be a little bumpy, though. Just as long as the Bucks do not trade Giannis Antetokounmpo for Kevin Durant, everything will be fine.