Heat Acquire Giannis Antetokounmpo in Blockbuster Trade with Bucks

The Miami Heat’s trade for Giannis Antetokounmpo became official Monday, formally ending the two-time NBA MVP’s 13-season run with the Milwaukee Bucks. Shortly after the deal was completed, Antetokounmpo posted “❤️” along with a video on social media looking back on his Milwaukee career, a brief farewell-style message to the franchise that drafted him in 2013.

Miami acquired Antetokounmpo and Bobby Portis Jr. in the deal. Milwaukee received Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., Kasparas Jakučionis, the No. 13 overall pick in the 2026 NBA Draft, first-round picks in 2031 and 2033, a 2030 first-round pick swap and a 2033 second-round pick.

The move closes one of the most significant eras in Bucks history. Antetokounmpo arrived as a teenage draft pick in 2013 and became the defining player of Milwaukee’s modern era, winning NBA MVP awards in 2019 and 2020 and leading the franchise to the 2021 NBA championship. He was also the 2021 NBA Finals MVP and made multiple All-Star and All-NBA teams during his time with the Bucks.

Miami celebrated the move in a team release, with Heat president Pat Riley calling it a franchise-shaping acquisition. “The announcement of today’s trade for Giannis Antetokounmpo and Bobby Portis Jr. is one of the great trades in HEAT history,” Riley said.

Milwaukee, meanwhile, publicly thanked the player who helped return the franchise to the top of the league. In a statement, Bucks ownership said: “For 13 seasons, Giannis gave everything to this organization and inspired our city with his relentless drive, humility and heart … Forever a Buck.” Bucks general manager Jon Horst also praised Antetokounmpo’s impact on the team and city, saying there are “few players in the history of professional sports who have elevated a franchise, a city and a fan base the way Giannis Antetokounmpo has for Milwaukee and the Bucks.”

The trade had been widely reported on June 23, but NBA offseason calendar rules meant it could not be formally completed and announced until Monday, when the new league year allowed it. That timing turned a long-anticipated move into official league business and finalized one of the biggest roster changes of the offseason.

For Miami, the significance is straightforward: the Heat have now formally added a two-time MVP and one of the league’s defining stars, along with Portis, to their roster. For Milwaukee, Monday marked the clear beginning of a post-Giannis chapter, with a return package built around established young players, a recent lottery pick and future draft assets as the franchise begins to retool after the end of Antetokounmpo’s tenure.