Latest NBA rumor I’m seeing is that the Houston Rockets are willing to do whatever they have to in order to pair Kevin Durant with Giannis. I don’t think they have the cards to get him, but you never know. The Bucks can’t let Giannis walk in free agency in my opinion. They’re going to have to trade him.
I think this rumor will not happen for now since recently Giannis sign for Bucks again and he has player option on 2027-2028 season. I don't know if Rockets could able to wait for that time since for sure there are lots of changes and maybe their priority will be change since for sure there are lots of rising stars would come up and provably will catch their attention.
Bucks cannot let go of Giannis since they know their team will be at huge mess if they let him go away on their team.
Also Bucks GM has clear stance that they won trade Giannis
https://ftw.usatoday.com/story/sports/nba/2025/08/24/giannis-trade-bucks-gm-no-interest/85808967007/ so with these news they already killed those rumors spreading around.