Teams race toward the NBA trade deadline Thursday at 3 p.m. ET, with four days remaining to reshape rosters before the window closes. Giannis Antetokounmpo dominates the conversation as five major contenders make aggressive pursuit for the two-time MVP.
🔥 Quick Facts
- Deadline time: Thursday, Feb. 5, 2026 at 3 p.m. ET, with all transactions locked by that moment
- First trade: Cavaliers acquired Dennis Schröder and Keon Ellis from the Kings in a surprising multi-team deal
- Top target: Giannis Antetokounmpo remains the most coveted player, with Knicks, Warriors, Rockets, Thunder and Pistons circling
- Other moves: Trail Blazers added Vít Krejčí for shooting, 31st trade of the season marking an unusually quiet year
The Cavaliers Make the First Major Move
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Cleveland shocked everyone by pulling off a three-team trade that sends Dennis Schröder and Keon Ellis to the Cavaliers from Sacramento, while De’Andre Hunter heads to the Kings. This deal cuts $7 million in payroll immediately, translating to more than $40 million in luxury tax savings. Schröder becomes the 11th NBA team of the 28-year-old guard’s career, but provides a critical second ballhandler that Cleveland desperately needed after Lonzo Ball’s disappointing season at 29.9 percent shooting.
Keon Ellis arrives as an expiring contract who will become a free agent this summer, providing elite wing defense and 42.3 percent three-point shooting. The Cavaliers currently sit at 29-21 with the league’s most expensive roster, making this move about creating financial flexibility for future deadline pushes.
Giannis Antetokounmpo Trade Market Heating Up
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The two-time MVP remains the biggest story as four Eastern Conference contenders including the Knicks, Celtics, Pistons and 76ers make aggressive inquiries. The Milwaukee Bucks are demanding premier young players and multiple draft picks in exchange for one of the three best players in the league. New York would need to trade OG Anunoby, Mikal Bridges and Karl-Anthony Towns just to get close to what Milwaukee is asking.
The Golden State Warriors have also emerged as serious contenders, with Mike Dunleavy Jr., the Warriors’ GM, having history with Antetokounmpo dating back to a 2015 playoff incident. According to reports, Golden State could offer Jonathan Kuminga, Brandin Podziemski and four first-round picks as their package.
| Team | Interest Level | Asset Focus |
| New York Knicks | High | Stars + Picks |
| Golden State Warriors | High | Young Core + Future |
| Houston Rockets | High | Assets + Depth |
| Oklahoma City Thunder | Moderate | Youth + Picks |
“The Bucks are looking for a premier young player(s) and multiple good draft picks in exchange for one of the three best players in the NBA.”
— League Sources, The Athletic
Other Notable Deadline Action Emerges
Portland Trail Blazers added 25-year-old wing Vít Krejčí from the Atlanta Hawks for two second-round picks, addressing the team’s last-ranked three-point shooting at 33.6 percent. Krejčí brings 42.3 percent three-point accuracy and a favorable contract with two seasons guaranteed at minimum salary. The Hawks received Duop Reath and future picks in return.
Paul George suspension sent shockwaves through Philadelphia, as the 76ers</b star faces 25-game ban for violating the NBA’s anti-drug policy. This changes everything for the Eastern Conference contenders, potentially opening the door for aggressive deadline acquisitions to compensate for his extended absence.
What Comes Next Before the Thursday Deadline?
Karl-Anthony Towns could be traded in a non-Giannis deal, with multiple league executives doubting he remains untouchable. The Knicks have played excellent basketball without Towns, suggesting New York could be open to salary-matching deals. Meanwhile, LaMelo Ball trade rumors continue swirling around the Hornets, and Ja Morant‘s name stays in circulation despite ongoing injuries.
Four days remain before the 3 p.m. ET deadline, meaning teams must decide now whether to push all-in or sell for future assets. The Giannis decision will likely decide the entire Eastern Conference playoff picture, making Thursday afternoon the most consequential deadline in years.
Which Trade Will Surprise Fans Most at the 3 p.m. ET Deadline?
The NBA’s slowest deadline season appears to be accelerating with just hours left before Feb. 5 closes the window. Teams with championship aspirations face make-or-break choices between staying the course and risking everything for a star-power upgrade. The Knicks, Warriors and Warriors have positioned themselves as aggressive buyers, but the Bucks’ asking price remains sky-high.
Will Giannis move by Thursday? Will another unexpected trade shake up the Eastern Conference? The deadline rush traditionally brings last-minute surprises, and this year figures to be no exception.
Sources
- The Athletic – NBA trade deadline live coverage and team reporting
- ESPN – Trade deadline analysis and contender tier evaluations
- NBA.com – Official trade deadline tracker and transaction logging
Michael Brown is a seasoned sports journalist bringing years of experience covering professional athletics and sporting culture. With a keen eye for breaking stories and player dynamics, this veteran journalist delivers in-depth analysis and exclusive insights from the world’s biggest sporting events. His passion for the game shines through in every story, keeping fans connected to the action both on and off the field.