According Shams Charania, the Milwaukee Bucks and Miami Heat have completed a blockbuster trade.

“BLOCKBUSTER: The Milwaukee Bucks are trading franchise icon Giannis Antetokounmpo and Bobby Portis to the Miami Heat for Tyler Herro, Kel’el Ware, Jaime Jaquez Jr., Kasparas Jakucionis, 3 first-round picks (including No. 13), 1 pick swap and 1 second-rounder, sources tell ESPN.” More specifically, the Heat are sending to Milwaukee unprotected first-rounders in 2031 and 2033 along with No. 13, a pick swap in 2030, and a 2033 second-rounder, according to sources.

The trade does not include any additional teams — it is a one-to-one move, sources said prior the Charania releasing the full details of the deal. Both the Heat and Bucks will execute the deal on July 6, leaving the framework open to opportunities to expand.

Milwaukee essentially chose the Heat’s young core + picks haul over the Celtics’ Jaylen Brown offer. It makes sense for a team entering a rebuild — they get youth, flexibility, and multiple bites at the draft apple rather than taking on Brown’s massive contract. Charania writes, “The Celtics aggressively pursued Giannis, offering Milwaukee a package featuring 2024 Finals MVP Jaylen Brown and two first-round picks, sources tell ESPN. The Bucks seriously negotiated with two finalists in recent weeks: Miami and Boston, which were both on Antetokounmpo’s list of preferred destinations.”

For Miami, they’re pairing Giannis with Bam Adebayo, which is an absolutely terrifying frontcourt. The big question will be whether they can build enough around those two with most of their picks now gone.

Timing is perfect too — this drops right before the draft tonight, so Milwaukee can use that No. 13 pick immediately. After signaling at the NBA draft combine in May that they were open to making moves, Bucks GM Jon Horst ultimately secured a significant return from the Heat. The deal brings in established starters and rotation pieces, along with promising young players and a substantial amount of draft capital.

This trade ends an awkward relationship between Antetokounmpo and the Bucks that has played out over the last year.

Next: Jaylen Brown May Be Open to a Trade to Milwaukee After All