The Miami Heat have acquired two-time MVP Giannis Antetokounmpo from the Milwaukee Bucks, adding the star alongside Bobby Portis to their roster whilst sending Tyler Herro, Kel'el Ware, Jaime Jaquez Jr., and Kasparas Jakucionis to Milwaukee. The deal concludes Antetokounmpo's entire professional career with the Bucks, who drafted him in 2013 and saw him win an NBA championship in 2021.

The trade follows a tense season in which Antetokounmpo publicly expressed frustration with Milwaukee's management over how they handled a left knee injury that affected his playing time. Heat president Pat Riley called the acquisition "one of the great trades" in franchise history, which has previously captured three NBA titles. The move is part of a broader offseason reshuffle that includes the Philadelphia 76ers acquiring Jaylen Brown from the Boston Celtics.