With Giannis Antetokounmpo potentially reconsidering his long-term future in Milwaukee after limited playoff success since 2021, this three-team blockbuster sends shockwaves through the league. The Spurs capitalize on their recent lottery luck (landing the 2025 #2 pick) to pair Giannis with Victor Wembanyama, forming arguably the most dominant frontcourt in NBA history.

Milwaukee initiates a soft rebuild, flipping Giannis for a high-upside Zion Williamson, rising wing Keldon Johnson, and the #2 pick in a loaded draft. Meanwhile, the Pelicans finally move on from the Zion experiment, opting for a cleaner cap sheet and long-term flexibility by acquiring Devin Vassell, Harrison Barnes, and three first-round picks.

This trade balances immediate contention, asset recouping, and long-term strategy across all three franchises.