According to an August 4 report from ESPN’s Shams Charania, “nothing is set in stone” regarding Giannis’ desire to remain with the Bucks long-term. And while a move is highly unlikely, Bleacher Report’s Grant Hughes has proposed a trade package that could land Giannis in Miami, should he become available.

Hughes’ proposed trade looks like this:

Miami Heat Receive: Giannis Antetokounmpo

Milwaukee Bucks Receive: Tyler Herro, Andrew Wiggins, Kel’el Ware, a 2027 first-round swap, a 2029 first-round swap, a 2030 first-round pick, a 2031 first-round swap and a 2032 first-round pick

“It’s hard to imagine Giannis signing up for a South Beach tenure that doesn’t involve Bam Adebayo, so part of the reason Miami green-lights this deal is because it gets to keep its perennial All-Defense center out of it,” Hughes wrote. “…This deal allows Miami to retain Norman Powell, which mitigates Herro’s loss a bit. If the Heat orient the offense around an on-ball version of Antetokounmpo, they should be able to get at least as much juice out of it as they did when Jimmy Butler, essentially a non-shooter, paired with Adebayo on a couple of Finals teams.”

Adding Giannis is undoubtedly a pipe dream for the Heat, or any other team in the NBA. However, if he does become available, we should expect Riley to have Miami sitting at the front of the line to begin contract negotiations.

Heat Face Tyler Herro Contract Decision

One reason Miami may be willing to part with Herro in Hughes’ hypothetical trade is due to him becoming extension eligible in October. Herro’s current contract runs until the summer of 2027.

According to NBA Insider Brett Siegel of ClutchPoints, teams around the NBA will begin to monitor Herro’s status with the Heat in the coming months.

“Tyler Herro becomes eligible for a three-year extension worth near $150 million with the Miami Heat in October before the start of the 2025-26 season. This is a situation teams are keeping an eye on, as Pat Riley has always been cautious with giving out extensions (see Jimmy Butler’s situation for details),” Siegel wrote. “A decision to extend or not to extend Herro will tell the tale of how the Heat view themselves in the East.”

Herro has emerged as a primary offensive option for Miami in recent years. Riley would be wise to extend him at the earliest opportunity. Otherwise, teams may begin to test the waters regarding a potential trade.

Heat’s Adebayo Pleased With Norman Powell Signing

Hughes’ proposed deal also keeps both Bam Adebayo and Norman Powell in Miami. During a recent media availability, Adebayo shared his excitement at the sharpshooting veteran joining Erik Spoelstra’s roster.

“It’s a very good shake-up for our team and now there’s a different dynamic to it,” Adebayo told Anthony Chiang of The Miami Herald. “…I feel like Norman is one of those guys who floats under the radar. But as you saw this year, he’s really shown that he can be an All-Star caliber player. You’ve seen what he’s done and you’ve seen him grow in this league. And, obviously, he wants to take the next challenge. Obviously, the next challenge is being with the Miami Heat. So I’m happy to have him.”

Powell will undoubtedly have a key role to play in the Heat’s rotation moving forward. His presence as a floor spacer would also be ideal in a world where Giannis was on the roster.

In reality, though, it’s highly unlikely Giannis becomes available, and if he does, there’s no guarantee the Heat would have the required assets to get a deal over the line.