The Golden State Warriors have the 11th pick in the 2026 NBA Draft. They could use that to land a young talent in what is expected to be one of the best draft classes in recent memory. However, the Warriors could also use that pick as a top asset in a Giannis Antetokounmpo trade, as they’ve been one of the few teams consistently mentioned in rumors.
While Golden State would almost certainly have to include its 11th pick in an Antetokounmpo trade package, recent signs show it might not be willing to part ways with it.
Along with a report about the Warriors’ draft plans, general manager Mike Dunleavy and head coach Steve Kerr’s recent comments about their 11th overall pick could signal the team has already reached a verdict on trading with the Milwaukee Bucks for their now-available superstar.
Let’s break down what Dunleavy and Kerr said, why the 11th pick is so critical to any Giannis trade, and whether the Warriors are quietly bowing out of the sweepstakes.
The Spears Report: “The Warriors Would Like to Keep That Pick”
Giannis Antetokounmpo speaks out on his Milwaukee Bucks future amid trade rumors | The Independent
Let’s start with the most direct reporting.
Speaking recently on NBA Today, league insider Marc Spears said it looks like the Warriors want to keep the 11th pick and use it in the draft rather than in a trade for Antetokounmpo.
“The Warriors have that 11th pick, and people wonder like ‘Hey, can they get in the Giannis mix?’ From what I’m being told today, from several people, the Warriors [would] like to keep that pick.”
Spears is one of the most respected NBA insiders. He doesn’t report rumors. He reports what he hears from people inside organizations.
When Spears says the Warriors want to keep the pick, it’s worth paying attention.
The Dunleavy Quote: “We’ll Look at Everything”
Let’s go to the general manager.
Speaking to reporters after the NBA Combine, Mike Dunleavy was asked about the 11th pick. His answer was measured but revealing.
“It’s a lottery pick in a strong draft. So we feel like we can get a good player. But we’ll look at everything. If there’s offers for the pick to move up, move back or trade for [a] veteran player that can help us, we’ll definitely look at all that stuff.”
Dunleavy left options open. He didn’t rule out a trade. But he also didn’t mention Giannis by name. He didn’t say “we’re going to use this pick to get a superstar.”
The tone was cautious. Deliberate. Almost as if he’s preparing fans for the possibility that the Warriors will keep the pick.
The Kerr Quote: “He’s Gotta Earn It, But We’re Committed”
Let’s go to the head coach.
Steve Kerr’s comments were even more revealing.
“It’s obvious where we are with the injuries to Moses [Moody] and Jimmy [Butler], you look at our depth on the wings, [the No. 11 pick] has to play. He’s gotta earn it, but we’re committed to the development of our young players.”
Read that again. “The No. 11 pick has to play.” “We’re committed to the development of our young players.”
That’s not the language of a team that’s about to trade its lottery pick for a 31-year-old superstar. That’s the language of a team that’s thinking about the post-Curry era.
Kerr knows the Warriors are old. He knows the dynasty is ending. He knows they need to develop young talent.
Trading the 11th pick for Giannis would be a win-now move. Keeping it would be a future-oriented move.
Kerr’s comments suggest he’s leaning toward the future.
The Marks Analysis: What the Warriors Can Offer
Let’s look at what the Warriors can actually offer in a Giannis trade.
ESPN’s Bobby Marks broke it down:
*“The Warriors have the 11th pick in the draft and can trade three additional first-round picks (2028, 2030 top-20 protected and 2032). The Warriors check the boxes with the ability to trade four firsts.”*
That’s a competitive package. Four first-round picks. That’s the kind of capital that gets teams to listen.
But if the Warriors aren’t willing to include the 11th pick, their offer becomes much less attractive. Three future first-round picks – one of which is protected – is not going to beat offers from the Thunder, Knicks, or Heat.
The Injury Factor: Moody and Butler’s Absences
Let’s talk about the context of Kerr’s comments.
Kerr mentioned the injuries to Moses Moody and Jimmy Butler. Moody is a young wing who was supposed to be part of the Warriors’ future. Butler is recovering from a torn ACL and won’t be ready until mid-season.
The Warriors are thin on the wings. They need depth. They need players who can step in and contribute immediately.
The 11th pick could provide that. In a deep draft class, the Warriors could draft a player who can play 15-20 minutes a night as a rookie.
Trading that pick for Giannis would address the frontcourt, but it would leave the wing depth even thinner.
The Post-Curry Era: Why the Warriors Need Their Picks
Let’s zoom out.
Stephen Curry is 38. He has maybe two or three elite years left. After that, the Warriors will enter a rebuild.
Those first-round picks are essential for that rebuild. They are the Warriors’ lifeline. They are the only way to restock the roster with young talent.
If the Warriors trade away four first-round picks for Giannis, they are mortgaging their future. They are betting that Giannis can lead them to a championship in the next two years.
That’s a big bet. Giannis is 31. He’s missed significant time with injuries. His game is based on athleticism, which doesn’t age well.
The Warriors have to decide if that’s a risk worth taking.
The Giannis Timeline: Why This Summer Is Critical
Let’s talk about the Giannis situation.
The Bucks are open to trading him. He has one year left on his contract after next season. He can become a free agent in 2027.
The Bucks cannot afford to lose him for nothing. They will trade him this summer if they believe he’s leaving.
That means the Warriors have a narrow window. They need to act now, or Giannis will go somewhere else.
But if the Warriors aren’t willing to include the 11th pick, they might as well not even try. Other teams will outbid them.
The Competition: Other Teams Have Better Offers
Let’s look at the other suitors.
The Oklahoma City Thunder have a treasure chest of draft picks. They have young players like Chet Holmgren, Jalen Williams, and Cason Wallace. They could put together a package that the Bucks couldn’t refuse.
The New York Knicks have been saving assets for years. They have multiple first-round picks and young players like Immanuel Quickley and Quentin Grimes.
The Miami Heat are always in the mix. They have Bam Adebayo (though they’d likely keep him), Tyler Herro, and draft picks.
The Warriors’ offer – even with the 11th pick – pales in comparison to what other teams can offer. Without the 11th pick, it’s not even close.
What the Warriors Should Do
Let’s put ourselves in Mike Dunleavy’s shoes.
Option 1: Trade the 11th pick (plus other assets) for Giannis. Go all-in on the next two years. Hope Giannis stays healthy. Hope the supporting cast is good enough.
Option 2: Keep the 11th pick. Draft a young player. Develop the core. Let the Curry era end gracefully. Build for the future.
Option 1 is exciting. It’s the kind of move that gets fans excited. It’s the kind of move that could lead to another championship.
Option 2 is boring. It’s the kind of move that feels like giving up. But it might be the smarter long-term play.
The Warriors have to decide which path to take.
The Kerr-Dunleavy Dynamic: A Rare Glimpse into Their Thinking
Let’s appreciate what we’re seeing.
Kerr and Dunleavy are being unusually transparent. They’re telling us that the 11th pick is valuable. They’re telling us that they’re committed to developing young players. They’re telling us that they’re thinking about the future.
That’s not typical for NBA front offices. Most teams keep their plans close to the vest.
The fact that Kerr and Dunleavy are being this open suggests they’ve already made a decision. They’re preparing the fan base for what’s coming.
And what’s coming is not a Giannis trade.
The Golden State Warriors have a decision to make. They have the 11th pick in the 2026 NBA Draft. They have the assets to make a competitive offer for Giannis Antetokounmpo.
But recent signs suggest they’re not willing to part with that pick.
Marc Spears reported that the Warriors would like to keep it. Mike Dunleavy said they’ll look at all options, but didn’t mention Giannis by name. Steve Kerr said the 11th pick “has to play” and that they’re “committed to the development of our young players.”
That’s not the language of a team that’s about to trade its lottery pick for a 31-year-old superstar.
The Warriors could pivot. They could change their minds. They could decide that one last run with Giannis is worth the cost.
But the early indications suggest they’re leaning toward the future.
The 11th pick might be the most important asset the Warriors have. Not for a trade. For the post-Curry era.
And if they keep it, the Giannis dream will die in the Bay Area.