NBA executives say there is anticipation growing around the league that Milwaukee Bucks star Giannis Antetokounmpo could be traded this season.

"Teams are circling—and hopeful," an anonymous executive for a Western Conference team told CBS Sports' Bill Reiter.

Another NBA executive told Reiter that they "wouldn't be surprised" if an Antetokounmpo trade happened by the Feb. 6 trade deadline.

A third executive for an Eastern Conference team said they have heard Antetokounmpo's preferred trade destinations would be the Miami Heat or the Brooklyn Nets, per Reiter.

Antetokounmpo has averaged 28.8 points and 11.8 rebounds through the Bucks' 1-3 start to the 2024-25 campaign.

The Bucks opened the season with Antetokounmpo and Damian Lillard combining for 55 points in a 124-109 win over the Philadelphia 76ers.

Strong performances from Antetokounmpo and Lillard haven't been enough to save the Bucks from three straight losses since then. The two Milwaukee stars most recently combined for 63 total points in a 119-108 defeat to the defending champion Boston Celtics on Monday.

After expressing frustration about the Bucks' lack of "identity" after last Sunday's loss to Brooklyn Nets, Antetokounmpo shared a more optimistic perspective when speaking to reporters following the next day's loss to the Celtics.

"At the end of the day, we have a great team. I believe we will keep on playing better, learning from our mistakes," Antetokounmpo said. "Eventually, we are going to start winning games. I don't think we are far off.

"I do not care about the record. I care about keep on building, people being healthy, and get where we want to get."

After the Bucks suffered a second straight first-round exit from the playoffs last season despite their blockbuster trade for Lillard last September, the pressure is on Milwaukee to make a deeper playoff run to keep both him and Antetokounmpo bought in to the franchise's hopes of repeating its 2021 title run.

Heat star Jimmy Butler is potentially entering free agency following this season (he has a 2025-26 player option), although previous reports indicate Miami has little interest in trading him. Nets forward Cam Johnson has also been the subject of trade rumors amid the franchise's focus on acquiring draft stock.

If the Bucks continue to flounder and eventually consider trading Antetokounmpo, those names would likely come up in discussions of a possible deal with either team.