Michael Conroy/Associated Press
The Three-Way Trade
Milwaukee Bucks Get: Victor Oladipo and Robert Covington
Indiana Pacers Get: Eric Bledsoe and their own 2020 first-round pick (No. 24) back from Milwaukee
Houston Rockets Get: Donte DiVincenzo, Ersan Ilyasova, 2021 first-round pick (Milwaukee), 2023 first-round pick (Milwaukee)
How’s that for a supporting cast around Giannis Antetokounmpo?
The Milwaukee Bucks surrender a grand total of three first-round picks, including unprotected firsts in 2021 and 2023, and three players on reasonable deals for a pair of high-end starters. That sounds like a ton to give up, but those picks will likely be late in the first round if the Bucks keep this core together, and there’s precedent for a contender to offload that kind of draft capital for pieces that put them over the top.
In 2013, the Golden State Warriors had to send two unprotected firsts and two seconds to the Utah Jazz in a salary dump to clear room for a sign-and-trade that brought Andre Iguodala aboard. Five straight trips to the Finals later, the Warriors were probably pretty happy with that decision.
Covington and Oladipo supercharge the Bucks defense and provide more playmaking (Oladipo) and shooting (Covington) than the team will know what to do with. Milwaukee didn’t have any offensive versatility in its last two disappointing postseason runs. A healthy Oladipo changes that.
Indiana may lose Oladipo for nothing, so getting Bledsoe on a decent deal ($16.9 million in 2020-21, $18.1 in 2021-22 before a nonguaranteed year in 2022-23) and its own first-rounder back is a solid return—even if it’ll be a little weird to see Bledsoe and Malcolm Brogdon, the Bucks’ old backcourt, suiting up for the Pacers.
Houston, having already lost head coach Mike D’Antoni and GM Daryl Morey this offseason, seems headed for salary reduction, tax avoidance and possibly a teardown. The Rockets mortgaged their future for Russell Westbrook, a catastrophic mistake, and this deal gets them the draft assets they’ll need to attach in any trade that gets them off Russ’ contract. And if the Bucks flop, causing them to lose Antetokounmpo in free agency and plummet toward the bottom of the standings, those unprotected firsts are suddenly among the league’s most valuable assets.
There’s huge risk here for the Bucks, who could lose Antetokounmpo and Oladipo in 2021 free agency, and then have no first-round picks to offset the rotten records that would follow. But Milwaukee can’t have it both ways; if it wants to impress Giannis, give him the best chance to win and convince him to stay, this undeniably bold deal broadcasts a commitment to winning now.