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12 games into the season, the Bucks find themselves with a 4-8 record and in 12th place in a terrible Eastern Conference. Their championship aspirations look completely dead in the water.
The team isn't looking into trades for Damian Lillard or Giannis Antetokounmpo yet, but they will eventually have to start examining every option on the table. They clearly aren't championship contenders and they don't have many avenues to get better aside from the guys on the roster simply playing better.
When the time does come to retool this roster, moving Lillard will be the easiest way to do it. He has the most value on the team aside from Antetokounmpo, who they absolutely should not trade unless he forces his way out of town. Lillard has been his usual self on offense this season, and plenty of teams would love to have him.
The Bucks don't have a ton of incentive to bottom out. They owe all of their future draft picks through 2030. They'd be seeking at least some players who could contribute right away, along with draft picks to use in future trades.
Here are the most compelling offers that every team could make for Lillard, ranked by how realistic they are.
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Ranking Damian Lillard trade destinations
Tier 5: Salary cap rules make it almost impossible
29. Suns
28. Nuggets
27. Timberwolves
26. Knicks
25. Celtics
24. 76ers
23. Lakers
22. Heat
The Bucks are in the second apron, which means they can't take back more than Lillard's $48.8 million salary in any trade. They also can't combine Lillard with any other player on the roster.
That makes trades with these eight teams, who are also above the apron, very complicated.
The Bucks would have to trade for a player with the same salary or involve a third team. The problem there is that a third team would have to get something good to help facilitate a trade, and these teams are also for the most part asset-poor.
The Heat have been linked to Lillard in the past and have the best shot among this group to get something done. They have a first-rounder to trade, matching salary in two of Tyler Herro, Terry Rozier and Duncan Robinson, and young players to throw in. But they probably don't have enough to compete with some of the other teams further down on this list.
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Tier 4: Technically possible but doesn't make sense
21. Warriors
The Warriors have risen to the top of the West thanks to their depth. They'd have to trade all that away for Lillard, and they already have a Diet Lillard in Buddy Hield.
A Lillard trade would cost Golden State Andrew Wiggins, Gary Payton II, Jonathan Kuminga, Brandin Podziemski and Trayce Jackson-Davis in terms of matching salary. That would be a really nice way for the Bucks to add depth around Antetokounmpo, but it's unrealistic.
The Warriors would need to fill those roster spots with minimum-salaried unsigned players. They'd be making themselves a lot worse this season.
MORE: How Warriors have built another contender around Stephen Curry
20. Clippers
The Clippers could move James Harden, P.J. Tucker and some filler after Dec. 15 to acquire Lillard. They've been an awesome defensive team that could cover for Lillard's deficiencies.
On offense, Lillard would be a better version of Harden, and they could actually be a decent team if Kawhi Leonard is ever healthy enough to come back. The issue is the Clippers only have one pick to move, and other teams can offer more.
From Milwaukee's side, this trade wouldn't do anything aside from providing some comic relief in reuniting Harden with Doc Rivers, who once claimed that Harden got him fired from the Sixers. The Bucks' defensive problems would remain.
19. Kings
The Kings could offer Malik Monk, Kevin Huerter and Trey Lyles along with up to two first-round picks and three pick swaps for Lillard. That would give them an impressive starting lineup of De'Aaron Fox, Lillard, Keegan Murray, DeMar DeRozan and Domantas Sabonis, but it would decimate their bench. Keon Ellis would be the only reserve they could count on.
The Bucks would gain a ton of shooting in this trade. Monk, Huerter and Lyles have had down years but historically have been great shooters. That would at least give them some playable veterans to stay in the Eastern Conference playoff picture. And the picks could help them reload for a star that fits better with Antetokounmpo down the road.
Another construct of this trade could involve Fox and Murray for Lillard, but the Kings would likely balk at that price.
18. Spurs
The Spurs have a massive amount of first-round picks to trade and some moveable salary in Harrison Barnes and Devin Vassell. The timeline doesn't match up here, though. They should be prioritizing players who can win with a prime Victor Wembanyama rather than maximizing their next two years.
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17. Pacers
The salaries to make this work would include Myles Turner, Obi Toppin (trade-eligible on Dec. 15), Bennedict Mathurin and Jarace Walker.
Turner addresses the complete lack of center depth in Milwaukee and could be a good replacement when Brook Lopez ages out of the roster. Toppin, Mathurin and Walker would give the Bucks some young talent in their pipeline. The Pacers also have up to two picks that they could add.
Lillard would be a weird fit for the Pacers. Haliburton and Lillard are both best with the ball in their hands and play very similar styles. It would also not line up with the 24-year-old Haliburton's timeline.
16. Mavericks
The Mavs haven't started the season on a great note. If they wanted to go crazy, they could swap Kyrie Irving and Quentin Grimes in exchange for Lillard.
Irving is a better defender than he's given credit for and could help Milwaukee shore up on that end. He's also two years younger than Lillard, giving the Bucks some more wiggle room to build a contender around Antetokounmpo.
It would probably be too risky for the Mavericks to consider doing this. Irving and Luka Doncic have built good chemistry together, and there's no telling if that would be the same case with Lillard. That backcourt would also be very rough defensively.
15. Raptors
The Raptors have up to five first-round picks they can include in trades. They could send Bruce Brown Jr. and Jakob Poeltl to match salaries, along with several of those picks.
Toronto's not really in a position to make this kind of win-now move. The Raptors wouldn't be good enough to make much noise in the playoffs even with Lillard, and they need Poeltl because they don't have much behind him.
The Bucks would love this type of offer, though. They need defensive veterans like Poeltl and Brown, and picks would replenish their ability to make trades.
Tier 3: They have stuff — but they're not good enough
14. Blazers
13. Bulls
12. Pistons
11. Wizards
10. Hornets
9. Hawks
8. Jazz
7. Nets
These teams all have draft picks and young prospects to throw at the Bucks, but why would they want a 34-year-old Lillard? By the time they have a good team, Lillard would be retired.
MORE: Ranking all 29 teams' chances of trading for Giannis Antetokounmpo
Tier 2: Teams that could make an offer
6. Grizzlies
Would the Grizzlies trade Desmond Bane, GG Jackson and draft picks in exchange for Lillard? They have up to four first-rounders they could include in a trade. The Bucks would need several to balance this deal out.
Bane isn't the same level of scorer as Lillard, but he's younger, cheaper and a much better defender. Jackson is a nice young prospect who can also score in waves. The Bucks would get a lot worse this season with this move, but they'd be better built for the long term.
For the Grizzlies, Ja Morant and Lillard would be amazing on offense and very bad on defense. Jaren Jackson Jr. and Marcus Smart could hopefully help there. The amount of rim pressure that Morant and Lillard could put would be the best in the league.
The Grizzlies have been saving their assets for a big trade. They could do this one, but they're likely waiting on a wing that fits more nicely with what they already have.
5. Cavaliers
The Cavs are the hottest team in the league. Breaking up their core for Lillard would be a huge risk, but it's possible. Darius Garland and Isaac Okoro (trade eligible after Dec. 16) would get to his salary figure. They could add a first-round pick and up to three pick swaps.
Lillard is an upgrade over Garland and would make the Cavs a more dangerous playoff team. This would shorten their window of contention considerably, however, putting a ton of pressure on them to win now.
Garland has had a bounce-back year and would be a great young point guard to pair with Antetokounmpo. Okoro would give the team some much-needed perimeter defense. This would be a nice way for the Bucks to get a little younger and stay competitive for longer while taking a step back in the present.
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4. Rockets
The Rockets have up to four first-rounders to move. They could include Dillon Brooks, who would give the Bucks a badly-needed perimeter defender, along with Reed Sheppard and Amen Thompson to get to Lillard's salary.
This would be a great package for the Bucks. They'd get some picks, two very high-level prospects and an All-Defensive veteran in Brooks that could add toughness.
The Rockets might do this too. They need to make a consolidation trade to break through a tough Western Conference. Fred VanVleet could cover for Lillard's defense, and the team would have a deadly closer to win their close games.
Tier 1: The best options
3. Pelicans
The Pelicans are natural trade partners with the Bucks because the Pelicans control many of the Bucks' future picks. If Milwaukee did want to bottom out, it would need those picks back.
Would the Pelicans be willing to trade the oft-injured Zion Williamson in exchange for Lillard? Brandon Ingram, who was on the trade block all summer, could be another option. The Pelicans would need to add another few young players such as Jordan Hawkins or Yves Missi to match salaries.
Reuniting Lillard with CJ McCollum in New Orleans would be fun. They'd have an elite wing defender in Herb Jones that they were missing in Portland. The guard rotation would be crowded with the newly-acquired Dejounte Murray needing minutes, but it would be a good talent play.
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2. Magic
The Magic are another team in need of a consolidation trade. They have a ton of talented young defenders and up to four first-round picks to move. Their offense has ground to a halt without Paolo Banchero, and they've been missing a high-level point guard on their roster for years.
Lillard would help boost that rough Magic offense, giving them the 3-point shooting and playmaking they've been lacking. Jalen Suggs would be a great 3-and-D backcourt pairing, and Franz Wagner and Banchero could provide some offensive punch.
The Magic could include Jonathan Isaac (trade-eligible on Jan. 2), Cole Anthony and Anthony Black to get to Lillard's salary number. That would give the Bucks some better defense and scoring provided that Anthony can come out of his early funk. And a slew of picks would help the Bucks start to retool their team.
1. Thunder
The Thunder have a massive war chest of picks available to trade. They could single-handedly solve the Bucks' problems if they decided that they wanted Lillard.
Oklahoma City also has an embarrassment of talented defensive players, many of whom are duplicative with each other. Lu Dort could replace 70 percent of what the Bucks lost in trading away Jrue Holiday. The Thunder do need Isaiah Hartenstein after Chet Holmgren's injury, but he would have to be the other salary piece included (he's eligible to be traded after Dec. 15).
Those two players would help the Bucks stay competitive, and the Thunder could easily give a handful of picks to refresh Milwaukee's pipeline of young talent.
The big question is whether the Thunder would want to risk breaking up their already-terrific team. Their biggest weakness in the playoffs last season aside from the departed Josh Giddey was that Jalen Williams didn't quite look ready for the moment. Lillard wouldn't have that problem. He could give the team a reliable second scorer to take some of the pressure off Shai Gilgeous-Alexander. He'd be a natural fit in their drive-heavy offense, and he would be dropped into an elite defense that could hide his weaknesses.
This would be a very bold move for the Thunder, but they've been saving up for this type of player to become available. Lillard could be the last piece that gets them over the top.
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