For the first time in his career, Bucks star Giannis Antetokounmpo is reportedly open-minded about leaving Milwaukee — and NBA front offices are already making phone calls, just in case.

Now, the Bucks’ two-time MVP reportedly hasn’t made any trade demands, but he’s no longer ruling out a potential move. San Antonio and Houston are two teams to monitor, according to multiple outlets, if Milwaukee eventually explores a blockbuster deal.

And if it comes to that, the Rockets aren’t expected to play coy.

League sources tell NBC Sports’ Kurt Helin that Houston is open to including All-Star center Alperen Sengun in a trade package for Antetokounmpo — a noteworthy possible stance, considering Sengun’s breakout season and recent five-year, $185 million contract extension.

Helin adds that Jabari Smith Jr. would likely be part of any offer, with the Rockets also dangling their mountain of future first-round picks.

Translation: Houston’s not messing around. If Giannis is truly gettable, just about everyone not named Amen Thompson might be in play.

And for now, it sounds like Thompson is indeed off the table. Sengun, it seems, is not.

From a fit standpoint, it makes some basketball sense. Moving Sengun in such a deal would help the Rockets balance their offensive mix while still leaving a strong young core intact around Antetokounmpo.

Sengun, 22, was nothing short of a revelation this season. The 6-foot-11 Turkish big man averaged 19.1 points, 10.3 rebounds, and nearly five assists while shooting just under 50% from the floor in 76 regular-season games. And he didn’t flinch when the lights got brighter, posting 20.9 points, 11.9 boards, and 5.3 assists per game in a hard-fought seven-game playoff loss to Golden State.

He’s good. But Giannis? That’s a different conversation entirely.

Antetokounmpo, 29, remains under contract through at least the 2026–27 season, with a player option the following year. If he does ask out, the Bucks will command a historic haul in return. Houston, with its mix of young talent and draft capital, has both the assets and the incentive.

For the Rockets, adding a player of Antetokounmpo’s stature could immediately vault them into true Western Conference contention — but only if they’re willing to let go of someone they’ve been building around.

Whether Milwaukee would prefer Sengun or Jalen Green in trade talks remains unclear. But if this goes anywhere, the Rockets are already showing their cards: They’re serious, and they’re not afraid to go big.

As one executive told NBC Sports, “You don’t get many shots at a guy like Giannis. You take the meeting. You open the books. You start figuring it out.”