The biggest domino just fell in the entire NBA trade deadline season. The Milwaukee Bucks have informed other teams that they will not be trading Giannis Antetokounmpo before this year's deadline. Beyond the fact that Giannis will not end up in the Western Conference, there are other crucial stakes for the Grizzlies.
With the Sacramento Kings and Miami Heat being strongly linked to Ja Morant, it appears almost certain that he will be traded soon. However, even before the recent Giannis update, Jake Fischer reported earlier that the Bucks are engaged in trade talks for Ja Morant. With the deadline fast approaching, the market for Morant is really starting to pick up.
The Bucks and Grizzlies have engaged in trade talks centered around Ja Morant, per @JakeLFischer pic.twitter.com/09uM6oh2Gm
— NBACentral (@TheDunkCentral) February 5, 2026
The Bucks could have increased urgency to get a deal done
With the Bucks not trading Giannis before today's deadline, there are multiple avenues that they could go to. They could wait until the summer and see if a better offer arrives. Alternatively, they could pivot to trying to build a contender around Giannis. The first move towards the alternative could be to pursue a trade for Ja Morant before the deadline closes.
Back in January, Shams Charania reported that the Grizzlies would be entertaining offers to move Ja Morant. Given that Morant's value is not at its highest right now, a trade has yet to materialize, and could come down to the final minutes of the trade deadline. While multiple teams continue to be linked to Morant, the Bucks were previously one of the teams seen as a potential suitor for him.
It remains to be seen what the exact return would look like. There is the possibility that it ends up possibly being a salary dump. However, with the Bucks not trading Giannis, there could be increased urgency to execute a trade. The Grizzlies could justifiably be seeking a young player in Ryan Rollins due to his recent breakout and how much of a steal his contract is. Along with Rollins, the Grizzlies could also still attempt to push for the Bucks' 2031 first-round pick despite Morant's current value.
The Bucks and Grizzlies are two teams that have to fully commit to a direction. With the Jaren Jackson Jr. trade, all signs point to the Grizzlies rebuilding. However, a Ja Morant trade would truly accelerate those efforts. Milwaukee, on the other hand, could start committing to building a winner around Giannis by acquiring Ja Morant.