The Golden State Warriors are running short on options to improve ahead of the 2026 trade deadline. They've been linked to Milwaukee Bucks superstar Giannis Antetokounmpo, but there will inevitably be 29 other teams at least entertaining the idea of going all in on the two-time MVP.
After watching the Cleveland Cavaliers acquire perfect Warriors trade target Keon Ellis, it's become abundantly clear that it's Antetokounmpo or bust for Golden State.
Ellis has been a name to watch since the 2025 offseason, when Jonathan Kuminga was linked to the Sacramento Kings in sign-and-trade rumors. Ellis, 26, was fresh off of a season in which he shot 43.3 percent from beyond the arc and had established himself as one of the best defenders in the NBA.
The connection was thus inevitably made between Ellis and the Warriors, with the foundation appearing to be that he was a necessary inclusion in any Kuminga sign-and-trade.
Unfortunately, the Cavaliers acted first and landed Ellis in a trade that saw them give up De'Andre Hunter and take back Dennis Schröder. In the process, one of the few high-level 3-and-D wings on the open market was taken off the board for a Warriors team in need of defense and shooting.
More importantly, a clear message was sent that the Warriors are all in on Antetokounmpo and won't take action until they know if they can land him.
Warriors clearly prioritizing Giannis Antetokounmpo over other trades
On the surface, it's entirely understandable for Golden State to hold off on completing trades that could impede its ability to acquire a generational talent. Even at 31, Antetokounmpo is one of the best players on the planet, capable of impacting games on both ends of the floor.
Injuries will prevent Antetokounmpo from reaching the 65-game threshold to extend his streak, but he's finished seven consecutive seasons on the All-NBA First Team.
The risk that the Warriors run with this approach, however, is missing out on the meaningful talent that otherwise exists on the open market. Two trades have already been completed in the days leading up to the deadline, with the other seeing Vit Krejci go to the Portland Trail Blazers and Duop Reath head to the Atlanta Hawks.
Though neither Krejci nor Reath were established as on the Warriors' radar, the fact remains that moves are starting to be made.
If the Warriors miss out on Giannis Antetokounmpo, then what?
In the event that the Warriors land Antetokounmpo, all will be well. If they miss out on him, however, then they could be left scrambling for other resolutions to their growing list of needs. That doesn't necessarily mean that a trade couldn't be completed, but their options could be limited.
Keep in mind: Even if Golden State manages to explore potential non-Antetokounmpo trades, no team is beholden to waiting until the Warriors know if they can land the former Finals MVP.
With Jimmy Butler out for the season, Kuminga a short-term fit, and Draymond Green soon to be eligible for free agency, long-term answers are needed—and soon. Stephen Curry may be testing the limits of longevity, but at 37 years of age, he's closer to the end than most want to believe.
Landing Antetokounmpo would go a long way toward helping to extend Curry's career, but what if the Warriors are unable to complete a trade for him?
The Bucks are by no means obligated to accept the Warriors' best offer and Antetokounmpo may even have a different preferred destination in mind. As such, losing out on Ellis is more than just a matter of what could've been.
If failing to acquire Ellis is a sign of things to come, and Antetokounmpo ends up elsewhere, then the Warriors could be trending toward wasting another season with Curry.