NBA trade season, Windhorst: “Everything is hinging on Giannis Antetokounmpo”

According to Brian Windhorst, the NBA trade season is “hinging” on one question: whether Giannis Antetokounmpo will come to market.
He argues a Giannis deal would trigger massive, multi-team trades because of the contract size and the likely need for multiple players.

So far, however, there’s been no trade request from Antetokounmpo and no indication the Bucks are initiating conversations.
The closest movement mentioned is brief Bucks–Knicks talks in August, described as presumably connected to Giannis.

ESPN frames the deadlock as mutual reluctance: Giannis would rather not formally ask out and risk his standing in Milwaukee.
Meanwhile, the Bucks reportedly won’t entertain trading him unless he explicitly requests it, with 2027 free agency and an October extension window looming.