The Miami Heat already have a backup plan if their Giannis trade falls through

The Miami Heat are currently locked in a heavyweight battle with the Boston Celtics in an effort to acquire Milwaukee Bucks star Giannis Antetokounmpo ahead of the 2026 NBA Draft. While the Heat were the early frontrunners to land Antetokounmpo via trade, it now appears to be a 50/50 between the two teams. However, Pat Riley is not putting all of his chips in one basket. While the Heat remain in the mix with an offer reportedly centered on Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., and multiple draft picks, the Celtics’ push has reportedly led Miami to consider all options.

While there hasn’t been anything concrete about which offer between the Heat and Celtics is emerging as the favorite, the Heat front office has aggressively prepared for the worst-case scenario. According to Brett Siegel of ClutchPoints, the Heat would “immediately pivot” its trade pursuit from Giannis to Kawhi Leonard, should Milwaukee accept Boston’s offer.

Based on the latest evaluation of the two potential offers on the table for Antetokounmpo, they’re focused on two very different outlooks. From Miami’s perspective, it could reportedly give the Bucks a younger return with more lottery picks. This would likely lead to a slightly more extensive rebuild, but also to a strong, young all-around core that could help keep the team in the playoff mix if all were to play out.

The Celtics’ reported offer features Jaylen Brown, a primary point of discussion for many analysts and those evaluating the situation. Regarding draft compensation, Boston would send what will ultimately prove to be late-first-round selections, and some rumblings have pointed to two picks along with Brown.

It sounds as though there’s an internal debate for Milwaukee over these deals, but as ESPN’s Shams Charania reported, the deal is expected to be finalized with one of these two teams by the 2026 NBA Draft on Tuesday, June 23.