The Milwaukee Bucks entered the 2025 offseason in a tough situation. While the team won an NBA Finals a few years ago in 2021, they have since followed it up with a loss in the second round, then three-straight first-round exits. With an aging core and key pieces from their championship core leaving, it was time to make changes.

While the Bucks made a move to acquire Damian Lillard in 2023, they opted to waive-and-stretch Lillard's remaining contract after he tore his ACL in the 2025 postseason, making room to bring in Myles Turner in free agency. Factor in some other moves, it still didn't seem like the Bucks had a quality enough roster, and that's held true.

Milwaukee currently holds an 18-26 record, sitting 2.5 games back of the 10th seed in the Eastern Conference, with the Charlotte Hornets right on their toes to pass them up. In addition, Giannis Antetokounmpo will be sidelined for several weeks after suffering an injury against the Nuggets.

Therefore, it raises the question: Is it time for Milwaukee to trade Giannis and embrace a rebuild?

At 31 years old, Giannis' trade value won't be getting any better any time soon. While the Bucks can certainly hold onto Giannis and retool this team in the offseason to make it a playoff team for 2027, there's no telling if Giannis will be willing to wait another year to be with a team that can't contend with the top of the conference.

While the New York Knicks are one team that is constantly brought up in trade rumors with the Bucks for Giannis, they won't be the only ones making an offer if the two-time MVP becomes available.

Additionally, the Bucks being legit contenders will be extremely difficult with Lillard's contract on the books for $22.5 million a year through the 2029-30 season. Not saying there isn't a chance, but there's no better time for Milwaukee to try and load up on draft picks and cheap contracts to rebuild.

The case for keeping Giannis, or trying to keep him, is pretty simple: the Bucks likely will never land a player as good as Giannis for a long time, so why not try to maximize your opportunity when you can.

Even though the Atlanta Hawks have swap rights, the Bucks will have a lottery pick in a loaded 2026 NBA Draft this offseason as long as the New Orleans Pelicans remain in the lottery as well. While drafting a player for the future makes sense, the Bucks could go in a win-now move and package the pick for a co-star for Giannis.

With a cheap starting caliber guard in Ryan Rollins locked up for at least next year, and a quality shooter in AJ Green locked up for the next several years, adding an All-Star caliber wing next to Giannis, along with a few other depth pieces, could be enough to position themselves to contend in the East.

Both options have their own risks, but the Bucks front office needs to make a decision on which path they want to stick with or the one that is the most logical.