NEW YORK — The Golden State Warriors and the New York Knicks have emerged as early betting favorites to land Giannis Antetokounmpo in a blockbuster trade that could reshape the National Basketball Association (NBA) landscape, according to odds tracked this week.

Golden State (+100) holds the strongest odds, followed by New York (+300), with the Miami Heat (+400), Atlanta Hawks (+550) and San Antonio Spurs (+850) rounding out the top five potential suitors at BetOnline, the top New York sportsbook in 2026, according to nysportsday.com. 

While betting lines offer only a snapshot of market sentiment, league executives increasingly view Antetokounmpo’s future as the NBA’s most consequential trade question.

Milwaukee has set a steep asking price for its franchise cornerstone, who led the Bucks to their first NBA championship in 50 years in 2021 and remains in his prime as a two-time Most Valuable Player.

ESPN insider Shams Charania reported Wednesday (Thursday Philippine time) that the Bucks have grown more open to listening to trade offers, though only at a price befitting one of the league’s elite stars.

“Multiple teams have received a sense that the Bucks are more open than ever to Antetokounmpo offers between now and the deadline,” Charania said. “However, Milwaukee has indicated to interested teams that the organization is not in a rush to complete a move and is willing to navigate Antetokounmpo’s future in the offseason if its believed price point of a blue-chip young talent and/or a surplus of draft picks isn’t met.”

Among contenders, Golden State is viewed as having one of the cleanest theoretical pathways. The Warriors could use Jimmy Butler’s nearly $57 million expiring contract next season as salary ballast, while centering a package around young talent led by Jonathan Kuminga and future draft compensation.

New York, meanwhile, has been identified by Charania as Antetokounmpo’s preferred destination in the offseason. Talks between the Knicks and Bucks, however, stalled previously due to New York’s limited ability to assemble a competitive offer.

As currently constructed, the Knicks lack both an elite young prospect and a surplus of tradable first-round picks — two elements Milwaukee has emphasized in any potential deal. New York’s only movable first-round asset is a top-eight-protected pick from the Washington Wizards, widely expected to convert into second-round selections in 2026 and 2027. That shortfall helps explain why discussions failed to gain traction last summer despite mutual interest.

If Milwaukee delays a decision until the offseason, Miami’s position could strengthen considerably. By draft night, the Heat would be eligible to trade up to three first-round picks and could build a package around Milwaukee native Tyler Herro, promising center Ke’lel Ware and additional draft assets.

Atlanta and San Antonio appear less likely to aggressively pursue Antetokounmpo. The Hawks control two future Bucks draft picks but are reluctant to enter a bidding war with Jalen Johnson now established as the franchise centerpiece following major roster changes. The Spurs, led by generational star Victor Wembanyama and supported by De’Aaron Fox, Stephon Castle and Filipino-American guard Dylan Harper, are firmly positioned near the top of the Western Conference and are wary of disrupting their core.

For now, Milwaukee remains in control. But with league interest intensifying, Antetokounmpo’s future looms as a defining storyline for the NBA’s next era.