Giannis Antetokounmpo is hurt again, this time with the Feb. 5 NBA NBA trade deadline in sight. Antetokounmpo said he thinks doctors will tell him something popped in his calf during the Bucks’ loss to the Denver Nuggets on Friday night, and it will likely keep him out for 4-6 weeks, putting him on the med through the trade deadline.

The Bucks are 18-26 at the time of this injury, and would miss the play-in tournament in the East if the season ended today. Milwaukee has been at the center of trade deadline conversation to this point for two main reasons:

Antetokounmpo told The Athletic he would never ask for a trade out of Milwaukee, but all he really has to do is turn down the Bucks’ contract extension this summer. If that happens, Giannis will be on an expiring deal, and it would be prudent for Milwaukee to get something in return for him while it still can.

This is an incredibly poorly timed injury for both Giannis and the Bucks. Here’s all the ways it could impact the NBA trade deadline.

Giannis likely won’t get traded at the deadline

I didn’t think Giannis was going to get traded at the deadline anyway, but this probably kills any chance of it. He should be set to return in late Feb. or early March ahead of the playoffs, but the team that acquires him won’t want to rush him back from injury. Giannis is also such a distinct player that it would be difficult for a contender to center their schemes around him on the fly, especially when he’s not 100 percent physically. It feels like this injury kills any chance that he’s traded in season.

The Bucks need to tank instead of buy the deadline

Bucks rumors have centered around Ja Morant and Zach LaVine so far, but they should forget that noise. Milwaukee is actually in position to enter the lottery with pretty good odds of landing a top pick this year: Atlanta controls swap rights on the most favorable of New Orleans’ and Milwaukee’s pick, and meaning the Bucks get the least favorable of the two. With the Pelicans looking like a bottom-two team in the league, it’s possible both picks could jump way up in the lottery and deliver Milwaukee the type of young talent they so desperately need. The highest Milwaukee can draft this year is No. 2, but that would be a great pick in a class as loaded as this one. Milwaukee needs both New Orleans’ pick and their pick to jump up. If the season ended today, the Pelicans would be No. 2 in the lottery odds and the Bucks would be No. 8. I’m guessing Milwaukee gets past by Charlotte at minimum in the East standings with Giannis out. The Bucks’ position is about to be even more favorable after Giannis’ injury.

The Heat will keep their powder dry

The Heat are poised to be one of the biggest suitors for Giannis whenever Milwaukee finally decides to listen to offers for him. Miami would probably like to buy at the deadline as it currently sits at 23-22 with the No. 8 seed in the East, but it’s hard to imagine putting a future first-round pick on the table for a player like Morant with the Antetokounmpo situation lingering. The Heat might make a small move, but they still need their best assets to package in a Giannis offer this summer. I’m guessing it’s a quiet deadline for Miami.

The Knicks should finish the season with Karl-Anthony Towns

The Knicks’ post-NBA Cup spiral has started some Karl-Anthony Towns trade rumors, and it makes sense given how desperate New York is to maximize their championship chances this season. We know the Knicks are also Giannis’ personal favorite destination if he does get traded, and Towns feels like important matching salary in any deal. With Antetokounmpo less likely to be on the move at the deadline now, it would be shocking to see the Knicks trade Towns in-season. New York’s best move is trying to win the East with this team this year, and if they fail, reassess how they can land Giannis in the summer ahead of the 2026-27 season.

The Warriors can’t wait on Giannis

Golden State reportedly wants to land both Giannis and LeBron James this summer. Good luck with that. The Warriors don’t have many seasons left with Stephen Curry still playing at a top-10 level, and they can’t waste this year by sitting idly at the trade deadline hoping to land Giannis in the summer. Jimmy Butler’s ACL injury is a devastating blow for Golden State, and it’s likely there’s no move on the table that will actually elevate them into one of the four best teams in the West. I still think the Warriors should be active and do everything they can to give Curry a shot this year. Does that mean a trade for Michael Porter Jr.? Domantas Sabonis and Keon Ellis? Sam Hauser? Feel free to throw this one in the my face if the Warriors really do land Giannis this summer, but I don’t think it’s happening, so it’s better to give Steph a shot while they still can.