RealGM Basketball Wiretap

31 May 2025

• Ex-Bucks Owner Marc Lasry Predicts NBA Valuation Growth Will Cool Off

  Marc Larry believes the valuation of NBA franchises will continue to increase in the future, but the rate of growth will decrease. Lasry and Wes Edens bought a total 50 percent stake in the Milwaukee Bucks in 2014 at a valuation of $550 million. In 2023, Lasry sold his take at a $3.5 billion valuation, which represents a 218 percent increase.

  "I don't think you're gonna have the growth that I had, where you paid a dollar and you got paid $8 ten years later," Lasry told Front Office Sports in the latest episode of Portfolio Players.

  Larry admitted that uncertainty around the future of Giannis Antetokounmpo with the Bucks played a role in his decision to sell.

  "People always pay a premium for someone who's a winner," said Lasry.

  Lasry predicts more modest increases in valuations moving forward as the NBA enters its new media rights deals.

  "It's not that it's just going to stop," said Lasry. "It can level off, it can go up 5%, it may go up 10%. I don't think it'll be going up 20% or 30%."

• Giannis Antetokounmpo Still Weighing Future With Bucks As Critical Meeting Looms

  On the morning of the NBA draft lottery, Giannis Antetokounmpo was reportedly "open-minded" about his future with the Milwaukee Bucks. In the weeks since then, there have yet to be any concrete updates about what Antetokounmpo is thinking while the Bucks continue to hope they can convince him to remain with the franchise. The Bucks have limited ways of improving their roster this offseason, while Damian Lillard will likely miss the entire season as recovers from a torn Achilles.

  "I reported a few weeks ago he is open-minded," said Shams Charania. "He is right now in the process of figuring out: is my forever home going to be in Milwaukee? Or is it time to go pursue a championship somewhere else?

  "I'm told that process is ongoing. There still has not yet been a big moment of truth meeting, I'm told, between the Bucks and Giannis Antetokounmpo. That will happen at some point in the offseason. But the Bucks are operating as if loyalty is going to win out. 'We're going to have Giannis.' He's been there for 12 years. A player like that loyalty means a lot. Equity means a lot. And so the Bucks are banking on that. They're banking on a gap year, essentially, where they're going to be able to retool around Giannis."

  When Antetokounmpo had big extension decisions previously in 2020 and again in 2023, the Bucks responded by acquiring Jrue Holiday and then flipping Holiday for Lillard. The Bucks are unlikely to be capable of executing a transaction of that magnitude this offseason.

  "Antetokounmpo is still in the process of figuring out what his future looks like," added Charania. "I think between now and the start of free agency we're going to get some more answers."

• Bucks Hope Weakened Eastern Conference, Doc Rivers Helps Convince Giannis Antetokounmpo To Stay

  The Milwaukee Bucks are attempting to construct a case to convince Giannis Antetokounmpo to remain with the franchise by reminding him that the Eastern Conference is in flux and fairly wide open. The Boston Celtics will likely have a down season of their own in 25-26 with Jayson Tatum rehabilitating his Achilles, while the Cleveland Cavaliers were a playoff disappointment after their excellent regular season.

  The Bucks want to sell Antetokounmpo on a gap year that enable the team to rebuild the roster around him. The Bucks also hope the presence of Doc Rivers as head coach provides a boost. Antetokounmpo and Rivers are believed to have a strong working relationship. The Bucks fired Adrian Griffin and hired Rivers away from ESPN in January 2024.

  Antetokounmpo's mindset is unknown at this time even as he remains active answers fans' questions on social media. Antetokounmpo has not formally pushed to be traded by the Bucks.

  Rival teams are quietly working on trade pitches should Antetokounmpo eventually become available. Antetokounmpo would likely provide the Bucks a preferred trade list if he does decide he is ready to move on.

• NBA To Announce MVP On Wednesday Night

  The NBA announced that the 2024-25 Most Valuable Player award will be announced on Wednesday night. The award will be given out at 7 PM ET on TNT, ahead of Game 1 of the Eastern Conference Finals between the New York Knicks and Indiana Pacers.

  The three finalists for MVP are Giannis Antetokounmpo of the Milwaukee Bucks, Shai Gilgeous-Alexander of the Oklahoma City Thunder and Nikola Jokic of the Denver Nuggets.

• Giannis Antetokounmpo, Bucks To Meet This Week About Future

  The awaited meeting between Giannis Antetokounmpo and Milwaukee Bucks leadership is now scheduled. Antetokounmpo and his representatives are set to meet with the Bucks leaders to discuss his future with the franchise. The meeting is schedule for the middle of the week, per Chris Haynes.

  Antetokounmpo has been clear that his lone goal is to compete to win multiple championships. If the opportunity to do that exists with Milwaukee, Antetokounmpo will likely be happy to stay with the only NBA team he's ever played for. If not, Antetokounmpo and the Bucks could pursue a trade.

  Antetokounmpo is set to make a projected $54.1 million next season. That will be the first year of the three-year, $175.4 million extension that the superstar forward signed with the Bucks.

• Rival Teams Believe Bucks Still Prefer To Keep Giannis Antetokounmpo

  The Milwaukee Bucks are believed to remain committed to doing all they can to keep Giannis Antetokounmpo, according to rival execs that spoke with The Athletic at the combine. However, sources are preparing for the possibility that Antetokounmpo will become available this offseason as he hits an obvious inflection point in his career.

  The Bucks will be without Damian Lillard for most if not all of the 25-26 season, while Brook Lopez will be a free agent. The Kyle Kuzma trade was a disappointment for the Bucks and they lack the requisite assets to make meaningful changes to their roster to become title contenders next season.

  "The organization genuinely loves Antetokounmpo and loves having him as its cornerstone," writes Sam Vecenie.

  Antetokounmpo and his represenatives are expected to soon meet with the Bucks to discuss their collective future plans. Antetokounmpo previously reached a crossroads with the Bucks in 2020 and 2023, which led to major trades for Jrue Holiday and then Damian Lillard. Antetokounmpo responded in each instance by signing an extension. This time, the Bucks will be unable to secure a franchise altering co-star to pair with Antetokounmpo. Antetokounmpo, however, may still ultimately decide to remain with the Bucks.

• Bucks Expected To Try To Regain Their Own Draft Capital From Pelicans, Blazers If Giannis Traded

  Because the Milwaukee Bucks owe future first round picks to the New Orleans Pelicans and Portland Trail Blazers, there is growing anticipation that they will try to include either team into a Giannis Antetokounmpo trade to regain some of their draft capital.

  The Pelicans control Milwaukee's first round picks in 2025, 2026 and 2027 due to the Jrue Holiday trade of 2020, while the Blazers control their picks in 2028, 2029 and 2030 because of the Damian Lillard deal in 2023.

  The Brooklyn Nets similarly reacquired control of their first round picks in 2025 and 2026 from the Houston Rockets as they separately traded Mikal Bridges to the New York Knicks to fully embrace a rebuild.

  As the week opened, there was a report from ESPN that Antetokounmpo was open-minded about a future away from the Bucks for the first time in his career. There has yet to be any publicly known resolution on whether Antetokounmpo will request a trade or decide he prefers to remain with the Bucks.

• Spurs' No. 2 Draft Pick Emerges As Key X-Factor In Giannis Antetokounmpo Trade

  The San Antonio Spurs moving up to the No. 2 pick could transform the possibility of a Giannis Antetokounmpo trade destination. San Antonio already had a surplus of future draft capital they could use in a trade, but the assured high value of a No. 2 pick certainly further improves their chances.

  Dylan Harper is the consensus second best player in the draft, but his positional overlap with De'Aaron Fox and Stephon Castle could lead them to trade down for a player that is a better fit while accruing additional assets. The Spurs traded out of No. 8 at last year's draft with the Minnesota Timberwolves for a 2031 unprotected first rounder and a top-1 pick swap in 2030. Rob Dillingham could have been an intriguing pick for the Spurs, but the optionality of those future picks are certainly far more valuable to them now, especially with their anticipated backcourt crunch if they do keep Harper.

  "The focus now in the Giannis situation is the No. 2 pick, which was gotten by the San Antonio Spurs," said Brian Windhorst on Friday's Get Up. "Do the Spurs look to make a package offer for Giannis? Or do they look to move it to another team in this draft? There's a lot of interest in the No. 2 pick in this draft. This will be where the draft is really decided. Giannis will have a play in that as well."

  Many rival executives expect the Spurs to eventually keep the selection to pick Harper.

• Warriors May Have Interest In Signing Brook Lopez

  ESPN's Bobby Marks reported that the Golden State Warriors could have interest in signing veteran center Brook Lopez this offseason. The center position is a priority for Golden State in free agency. Finding one who can space the floor is key, since that player will play alongside Draymond Green and Jimmy Butler in the Warriors frontcourt.

  Lopez checks that box, as he's one of the best shooting centers in the NBA. The 17-year vet is set to be an unrestricted free agent this summer. Marks noted that Lopez went to school and still maintains a home near the Bay Area.

  Lopez has spent the last seven seasons with the Milwaukee Bucks. However, the Bucks may be in transition with their roster this offseason. If so, Lopez may be looking for a starting spot on a contender. The Warriors will likely be in range to offer the Non-Taxpayer MLE (projected at $14.1 million) or the Taxpayer MLE (projected at $5.7 million).

• Giannis Antetokounmpo In 'Fact-Finding Mode' Before Making Decision On Future

  Giannis Antetokounmpo has not yet requested a trade from the Milwaukee Bucks, but he is "open-minded" to an exit and is in "fact-finding mode," sources tell The Athletic. Antetokounmpo is "discussing his situation with trusted confidantes while making it clear that he's reading the room here," writes Sam Amick.

  The medium-term future of the Bucks looked challenging given their ongoing salary, luxury tax and apron issues given their aging roster, but their short-term outlook took a massive hit in the first round when Damian Lillard suffered a torn Achilles.

  The Houston Rockets and San Antonio Spurs are considered two of the leading contenders to acquire Antetokounmpo given their ability to assemble an attractive trade package to offer the Bucks while also maintaining enough players around him to compete for titles. The New York Knicks, Brooklyn Nets and Dallas Mavericks could be on the periphery. Similar to the Rockets and Spurs, the Oklahoma City Thunder could put together an attractive offer to the Bucks, but their level of interest is unknown and could be dependent on how their playoff run plays out.

  Antetokounmpo signed an extension with the Bucks in 2023 following their trade for Lillard and he can become a free agent in 2026.