What happened: Milwaukee dealt Giannis Antetokounmpo to Miami at its self-imposed deadline, choosing the Heat over a competing Boston package. The Celtics' reported willingness to part with Jaylen Brown — surfaced publicly by ESPN's Brian Windhorst two days before the draft — pushed Pat Riley to sweeten Miami's bid. General manager Jon Horst ultimately landed a return built around Tyler Herro, Jaime Jaquez Jr. and Kasparas Jakucionis plus draft capital.

Why it matters: By keeping two suitors live, Horst converted a single likely buyer into a bidding war and pried loose assets Miami had initially held back. The choice resets Milwaukee for the next decade, closing the Antetokounmpo era and reshaping the roster around younger players and future picks rather than a possibly disgruntled veteran.

What to watch: Attention turns to how the rebuilt Bucks roster takes shape ahead of the 2026-27 season and when the acquired picks and swaps convey.