Ira Winderman: If Giannis truly wants out, then Heat should (again) want in

Ira Winderman, South Florida Sun-Sentinel on Dec 5, 2025

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ORLANDO, Fla. — Until now, these past few years of Miami Heat speculation when it came to Giannis Antetokounmpo largely was fool’s errand.

Until now.

Because for all the previous lust — and it was ample — there was no reason for small-market Milwaukee to even consider moving the most coveted asset of any small-market NBA team, a bona fide superstar at peace with his location.

Through two Antetokounmpo extensions, just in case, the Heat protected assets and cap flexibility.

The difference now is that Giannis is the one flexing (or at least would be if fully healthy), recognizing that even at his best, he is not enough to carry what remains alongside in Milwaukee.

Which is what, like it or not, NBA stars do. Some in free agency. Some in forcing/finessing their way out.

The latter appears to be the current Giannis approach, with New York seemingly the preferred landing spot.

Except.

Except as several recent trades have shown, loyalty only goes so far. The Trail Blazers stand as a prime example from a Heat perspective, having denied Damian Lillard’s request of a deal to Miami in favor of what they perceived as a more favorable package from Milwaukee (oh, the irony).

With disgruntled franchise icons/cornerstones, there typically are two ways to go: the team placates to keep the player in place, or said player relocates to a preferred place.

With Giannis, the Bucks did more than their portion of placating, over the years adding support in the form of Brook Lopez, Bobby Portis, Jrue Holiday, Lillard and most recently crippling the future payroll with the waive-and-stretch of Lillard to accommodate the signing of Myles Turner.

For Giannis, they did all they could, putting player first.

Now they need to do all they should, putting team first.

And if that is the case, then the Heat and any other suitor would be out of luck when it comes to outbidding the Oklahoma City Thunder, if the Thunder want to tinker with a very good thing.

Because no team — arguably ever — can put together the type of pick package the Thunder can offer.

But if the Thunder ride this out on the way to apparent back-to-back titles, and if there is open bidding beyond OKC — which in the wake of the Dallas Mavericks’ single-destination blunder with Luka Doncic there seemingly has to be — then the Heat are reasonably positioned, having previously been on a Giannis wish list.

The matching salary combinations are there, starting with Tyler Herro and Andrew Wiggins.

The young talent is there, be it Kel’el Ware, Jaime Jaquez Jr., Nikola Jovic or the unknown of Kasparas Jakucionis.

Two first-round picks are there, the type of well-in-the-future selections that can be repackaged.

Missing from those lists is Bam Adebayo, as in buddy of Giannis, as in a player who shares the same agent as Giannis, as in a prime reason why Giannis might warm to the Heat.

For those reasons, no need to consider whether the Heat should/would offer Adebayo. That stands as a non-starter on so many counts.

And then there is the element of all of this that is out of view, if not out of mind.

The NBA has yet to clarify whether Terry Rozier’s salary can be utilized in a trade, as the veteran guard remains on NBA-imposed leave amid the FBI’s gambling investigation, to be arraigned next week in federal court in Brooklyn.

In addition, also unclear but less likely to be addressed, is the future pick the Heat still owe the Charlotte Hornets in 2027 or ’28 to complete the 2024 acquisition of Rozier, one that came with the Heat left uninformed by the Hornets or the NBA that Rozier at that time already was under investigation for gambling irregularities.

If relief were to be granted there by the NBA, the Heat instantly could have up to four first-round picks to package — since the debt to Charlotte and the NBA rule prohibiting being without consecutive future first-round picks effectively leaves the Heat currently unable to trade their first rounders in 2026, ’27, ’28 and ’29.

Have four picks to put into play, have Rozier’s salary to put into play, have the aforementioned high-end salaries on the current roster and have those ample young pieces, and a Heat package could trump anything this side of Oklahoma City.

As good as it has gone with this revamped Miami mix, Wednesday night’s slippage in Dallas notwithstanding, as encouraging as the future stands with the likes of Ware, Jaquez, Jakucionis and perhaps still Jovic, generational talent requires pushing as many chips as available into the middle of the table.

At the moment, the Heat hold a quality full house. With some type of Rozier relief, it could turn into at least four of a kind, perhaps even a straight flush.

No, not topping the royal flush that OKC’s Sam Presti has scammed from the rest of the league, but enough to make an interesting season even more compelling by ordering out for some Greek.

Even with Wednesday night’s calf strain that has him out two to four weeks, likely leaving the Bucks in even worse shape upon a return, the speculation isn’t going anywhere, assuredly leaving Giannis in play. Therefore, the Heat making a play no longer would be a fool’s errand.