NBA trade rumor roundtable: Discussing Giannis Antetokounmpo, Anthony Davis and more as trade season nears

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An important milestone in the 2025-26 NBA season is just days away. Starting on Dec. 15, players who signed a new contract in the offseason are eligible to be traded, which will open up a new world of possibilities for general managers looking to make some moves ahead of the Feb. 5 trade deadline.

Nothing that happens this season will be as stunning as last February's Luka Dončić for Anthony Davis swap between the Dallas Mavericks and Los Angeles Lakers, but there could be some league-altering deals over the next few months.

Most notably, Giannis Antetokounmpo's future with the Milwaukee Bucks is up in the air, and the two-time MVP could be on the move this winter. Davis, too, has been mentioned as a possible trade candidate as the Mavericks consider their path forward, and may end up having a very short stint in Dallas.

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As Dec. 15 approaches, CBS Sports convened a roundtable to discuss what will happen with Antetokounmpo and Davis, and much more.

Will Giannis Antetokounmpo finish the season with the Bucks?

Jack Maloney: All along, I've been confident that Giannis would finish this season with the Bucks, but I've started to waver on that belief due to the team's slide down the standings and the barrage of rumors. However, it is going to be tricky to trade him mid-season and he's stubborn and will want to make things work with the Bucks. (His quote to Chris Haynes about wanting to "run through the wall" feels notable.) I'm still leaning toward him remaining in Milwaukee until the summer, but the last week has only reinforced the idea that it's a matter of when, not if, he leaves.

Robby Kalland: I'll say yes. Making that kind of trade is incredibly difficult during the season, especially given Giannis will have a list of preferred destinations in mind. New York is apparently at the top of that list, but if they couldn't work out a trade before the season, I'm not sure what could change to make that happen. On the Bucks' side, I think the best return possibilities will come in the summer -- especially if the teams with the best potential offers fall short of their goals and have more reason to believe Giannis will fix them.

James Herbert: Yes. I think the Bucks should trade him, but that doesn't mean they'll actually do it. I thought they should have traded him last summer, too, and instead they decided it was a good idea to pay Damian Lillard $22.5 million a year to not play for them for the next five seasons. I am skeptical that Antetokounmpo will explicitly request for a trade before February's deadline, and I'm skeptical that anything less than that will motivate Milwaukee to move on.

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Whether it's now, or in the summer, which team has the best chance to acquire Antetokounmpo?

Maloney: The Knicks. Other teams may have more assets, especially in terms of draft picks, but the Knicks have the one thing no other team can buy: Giannis' interest. According to multiple reports from Shams Charania, Brian Windhorst and Jake Fischer, Giannis wants to play for the Knicks. If the Bucks eventually decide to trade Giannis, there's a very good chance they'll work with him to get him to his preferred destination, which gives the Knicks the upper hand.

Kalland: San Antonio. They have a glut of young players and picks they can put together in a deal to pair Giannis and Wemby, who would have an argument as the most terrifying and versatile frontcourt combo the league has ever seen. I think they will ride out this season given how well they've played, but like we saw with Houston last year, they'll learn in the playoffs that they're still a piece short. That will give them the impetus to make a stronger push for Giannis, and there's no team – outside of OKC, which is terrifying – that can make a stronger offer for Giannis. The question would be whether Giannis would sign off on going to San Antonio, but I could see him buying into a tag-team with Wemby.

Herbert: I'll pick the Hawks. It will be complicated for any team to trade for him, but, in theory, they have the tools to get it done: tradable contracts of every size, young talent and future first-round picks, including that incredible pick they got in the Derik Queen trade.

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What should the Mavericks do with Anthony Davis?

Maloney: If they can get a decent haul this season, I would trade him. They've been better since he's returned, but they aren't a real contender, even if Kyrie Irving comes back. Notably, this is the last year they control their first-round pick until 2031. They're currently outside of even the Play-In spots, and have a real chance to get another top pick in the 2026 draft, which is widely projected to be excellent. If they can flip Davis (and Irving) for young players and/or picks, and add another top-10 selection in 2026, they could completely reset their future around Cooper Flagg.

Kalland: Explore what's out there on the trade market, but most likely keep him until the offseason. They should definitely not extend Davis this summer, but I don't think they have to ship him out this season or it's a disaster. Trading Davis is so tricky because there's no chance of getting back anything close to what you gave up for him, but the focus at this point has to be not taking on anything negative in return. They've rebounded some from an awful start, and if Kyrie Irving comes back in January or February, you could see this team sniffing around the 7-8 play-in game. Somewhat similar to Giannis, some teams might be a bit more interested in a deal this summer.

Herbert: They should be open to moving him immediately. They're not operating on his timeline anymore, and they have all the incentive in the world to tank right now. And if Dallas isn't interested in the offers they're getting, then I guess it can just keep him around, be conservative about his minutes and trade him in the offseason. I'm not sure the offers will be much better at that point, though, given that he'll be up for an extension.

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An anonymous East exec recently said that Trae Young, Ja Morant and LaMelo Ball 'all might have negative value.' Which one would you most want on your team?

Maloney: Young has generally been the healthiest of the bunch, which is a big point in his favor, but give me LaMelo. I fully acknowledge that there are real concerns – persistent ankle issues, questionable shot selection, shaky defense – but I still think he has the highest ceiling of this bunch. Six-foot-seven point guards with his playmaking ability don't come around very often. I'd want to see what he looks like in a different situation.

Kalland: Trae Young. I don't think any of them are capable of being The Guy on a great team, but he has the most elite skill of that trio with his passing. While he's missed some time this year, I also just trust him to be on the floor far more often than Morant and Ball at this point. We haven't ever really seen what LaMelo looks like in a winning context, whereas we have seen Young and Morant playing at a high level on a team that's won. However, so much of Morant's game is predicated on elite athleticism that you fear injuries have caused that to slip and taken away his effectiveness attacking the rim.

Herbert: Right now, I'd most want Young on my team. If I'm trading for one of them, though, the answer is probably Ball. He's still just 24, and I might be able to talk myself into him rounding out his game and realizing his star potential in a new environment. I wouldn't immediately have to deal with him being eligible for a contract extension, either.

What on Earth do the Clippers do ahead of the deadline?

Maloney: The rest of the league would hate them for trying to move Kawhi Leonard and James Harden, because it would guarantee the Thunder another top draft pick (and possibly two considering OKC has swap rights to the Clippers' 2027 first as well) but I think it's time to shop Kawhi Leonard and James Harden. Try to recoup some picks and/or young players, reset the books and chart a new path forward. This group's run is over.

Kalland: If able, blow it up. It's time. You got the arena built with a team that was a playoff contender, which was one of the main goals of the Kawhi era. You never reached the heights you wanted, but it seems pretty clear that there is not a path forward where you can simply re-tool with stars this old. Leonard and James Harden may still have some trade value left, and while I don't ever think Steve Ballmer will accept a full-scale rebuild, it's time to try to get some draft assets, clear the books some to make a run at new free agents and see if you can't plant some new trees, if you will.

Herbert: There's no great answer here. If I'm the GM, I'm trying to trade Kawhi Leonard and James Harden, and I might even put Ivica Zubac on the block, too. I worry, though, that they'll go the other way, in hopes of salvaging the season by sneaking into the play-in.