Trade doesn't happen until 30 days after the draft to make Lopez S/T work.

The rationale:

Spurs:

IMO with the 2nd overall pick the Spurs now have the best package out of any team for Giannis. Obviously giving up amazing assets like Harper, Vassell, and Castle hurt, but the team that remains would undoubtedly be a championship favourite for the next 5 years at least. Plus, they don't give up any draft assets past 2028 and could make further moves if needed with them.

Lopez joining for cheap is a plus, yes he is old but would only play role player minutes backing up Wemby. He can't be signed for less than 3 years on a S/T but could retire before the end of his contract. He agrees to this deal as he wants to continue to compete for championships before he retires.

The Spurs would have 9 players rostered after this deal (need 14 to start season). Roughly 36 million in cap space (hard capped at first apron) and can play with a 14 million NTMLE, 5 million BAE, 3 million room exception, and CP3's rights.

Bucks:

This trade would put the Bucks in the best position moving forwards relative to any other Giannis trade return they could realistically get right now. They would get two great young guards to form a solid backcourt moving forwards in Harper and Castle, another solid young role player in Vassell, and Jeremy Sochan. And they would regain complete control of their next two firsts— which given the state of their roster could be very valuable picks. Plus financially, if Portis declines his option, the Bucks would find themselves under the salary cap.

Hawks:

The Hawks move their 13th overall pick this year and control of the least favourable of the 2027 MIL/NOL firsts to regain control of their near future and a Pacers pick next year. Giving up 13 hurts this year but this allows them to more freely explore potential Trae Young trades if they would like and just more control over their future generally.

Pelicans:

In exchange for control of the next two Bucks picks and the Pacers pick next year, the Pelicans add 2 more lottery picks and a second in this year's draft. Plus they regain control of their own 2027 first and 4 future seconds (3 of which are their own). Getting these assets now could really help the team retool going into the future, and potentially send them on another direction if they choose to move off of Zion this summer.