NBA Trade Rumors 2025-26: The latest on Anthony Davis, Jonathan Kuminga, Giannis Antetokounmpo, more
With December 15 just days away, the NBA’s "unofficial" trade season is set to begin, and the rumor mill is already spinning with high-profile names. As executives prepare to gather in Orlando for the annual G-League Showcase—where the real groundwork for deadline deals is often laid—the focus is on three distinct situations defining the 2025-26 market.
Giannis Antetokounmpo remains the league's ultimate prize, though a mid-season move appears complicated. Despite the Milwaukee Bucks stumbling to a disappointing 9-13 start, the franchise is digging in. Head coach Doc Rivers recently told reporters that the two-time MVP has "never asked to be traded," attempting to douse the fire. However, leverage remains with the player. Insiders suggest that if Milwaukee’s trajectory doesn't correct, Antetokounmpo could simply signal his intent to decline future extensions next summer, forcing the Bucks to consider a blockbuster return rather than risking a walk-away scenario akin to previous superstar exits.
In the Bay Area, a separation between the Golden State Warriors and Jonathan Kuminga feels increasingly inevitable. The Warriors signed the forward to a two-year, $46.8 million extension that many executives viewed as a vehicle for a future trade. That theory is holding weight; Kuminga is averaging a modest 12.4 points and recently suffered a DNP-CD, signaling a disconnect with Steve Kerr’s rotation. He becomes trade-eligible on January 15, but the market has shifted. The Sacramento Kings and Phoenix Suns, once seen as aggressive suitors, may no longer view him as the missing piece, complicating Golden State's ability to upgrade their roster around Stephen Curry.
Finally, Anthony Davis is generating buzz, though largely due to speculation rather than concrete traction. In the first season of a three-year, $175 million extension, Davis is earning $54.1 million, a figure that makes salary matching nearly impossible for contenders like the Dallas Mavericks, who are hard-capped at the second apron. While "paper trades" involving the Miami Heat or Chicago Bulls exist, sources indicate a Davis deal is unlikely unless the Lakers completely collapse before February.
Giannis Antetokounmpo remains the league's ultimate prize, though a mid-season move appears complicated. Despite the Milwaukee Bucks stumbling to a disappointing 9-13 start, the franchise is digging in. Head coach Doc Rivers recently told reporters that the two-time MVP has "never asked to be traded," attempting to douse the fire. However, leverage remains with the player. Insiders suggest that if Milwaukee’s trajectory doesn't correct, Antetokounmpo could simply signal his intent to decline future extensions next summer, forcing the Bucks to consider a blockbuster return rather than risking a walk-away scenario akin to previous superstar exits.
In the Bay Area, a separation between the Golden State Warriors and Jonathan Kuminga feels increasingly inevitable. The Warriors signed the forward to a two-year, $46.8 million extension that many executives viewed as a vehicle for a future trade. That theory is holding weight; Kuminga is averaging a modest 12.4 points and recently suffered a DNP-CD, signaling a disconnect with Steve Kerr’s rotation. He becomes trade-eligible on January 15, but the market has shifted. The Sacramento Kings and Phoenix Suns, once seen as aggressive suitors, may no longer view him as the missing piece, complicating Golden State's ability to upgrade their roster around Stephen Curry.
Finally, Anthony Davis is generating buzz, though largely due to speculation rather than concrete traction. In the first season of a three-year, $175 million extension, Davis is earning $54.1 million, a figure that makes salary matching nearly impossible for contenders like the Dallas Mavericks, who are hard-capped at the second apron. While "paper trades" involving the Miami Heat or Chicago Bulls exist, sources indicate a Davis deal is unlikely unless the Lakers completely collapse before February.
