Celtics Set to Target Giannis Antetokounmpo & Trey Murphy as $27M Option Emerges, Per Reports

After a somewhat unexpected first-round playoff exit to the Philadelphia 76ers in 2026, the Boston Celtics are looking to bolster their roster. One of the most staggering names reportedly on their radar is Giannis Antetokounmpo, with Trey Murphy also emerging as a potential target.

According to NBA insider Evan Sidery, Boston has a massive $27.7 million Traded Player Exception (TPE). It allows them to absorb a player's salary into that exception in a trade without having to send back a matching salary.

"The Celtics are reportedly going after both Trey Murphy & Giannis in a blockbuster trade," said Sidery. "Boston has a $27 million salary that fits Boston’s TPE to acquire (Antetokounmpo) while doing a 1-for-1 with Derrick White. New Orleans can be a team to look out for as a possible third team in this deal."

This works well for the Celtics, especially since they currently have no cap space to work around with. They'll be able to cover Antetokounmpo's incoming $58.4 million salary without having to worry about matching it with another player of equal value.

However, the TPE Boston holds works better for the Murphy deal because of his incoming $27 million contract. The Celtics could simply acquire Murphy with their TPE and send the New Orleans Pelicans several draft picks in exchange.

Some reports have suggested that Giannis has also expressed interest in playing for the Celtics. Journalist Bill Simmons reported that Boston is one of the destinations the Greek Freak has been considering, given the team's championship potential if he were to join the roster. It would also align with his reported preference to remain in the Eastern Conference.

Readers should take this with a grain of salt, though. No official deal has been made among the Milwaukee Bucks, Celtics, and Pelicans as of now.

Another NBA insider isn't too optimistic about seeing Giannis make TD Garden his home

While the idea of forming a Big Three featuring Giannis Antetokounmpo, Jayson Tatum, and Jaylen Brown sounds enticing, NBA insider Brian Windhorst is not convinced it will happen.

During a recent appearance on ESPN's 'Get Up,' Windhorst noted that any potential deal would require mutual interest from both Antetokounmpo and the Boston Celtics. With Giannis approaching the final stages of his contract, he would need to be willing to commit to a long-term extension with the franchise. Windhorst also questioned whether the Celtics would be prepared to take on the massive financial commitment that would come with acquiring and retaining him.

Until those questions are answered, Windhorst does not see a partnership between the two sides materializing.

"(The Celtics) want another star player who is younger and under contract control," he said. "That would fit Jaylen Brown. ... When you talk Giannis, you have to realize he has one year on his contract. He has to want to go to the place. He has to be willing to extend his contract. Is he willing to extend his contract with Boston? Unless the answer is yes, and Boston has to be willing to pay him. ... Until I hear those two things, I can’t get that this is going down the track."

The Miami Heat is also considered one of the frontrunners to land Giannis. The two-time MVP has spoken fondly about Miami, calling it a "beautiful" place during an interview earlier this year. The Heat also possesses several assets that could appeal to the Bucks in a potential trade package.

According to reports, Miami has offered Tyler Herro, Jaime Jaquez Jr., Kel'el Ware, and the No. 13 pick in the 2026 NBA Draft to Milwaukee.

While the Bucks have yet to make a decision, Miami's reported package appears more compelling than what the Celtics can currently offer.