This year’s NBA offseason is shaping up to be one of the most pivotal in league history — or at least, that’s how ESPN’s Shams Charania framed it during a recent appearance on The Pat McAfee Show. The Boston Celtics may look different post-championship, the New York Knicks are flirting with major roster changes, and Kevin Durant could return to Texas to join Victor Wembanyama in San Antonio.
But amid all the expected chaos, one team seems poised to make the loudest splash of all: the Toronto Raptors.
After finishing 11th in the Eastern Conference, dealing with a carousel of injuries, and trading for Brandon Ingram — only for him to sit out — the Raptors are now a team to watch closely this summer.
But why is that? (Insert best Brian Windhorst voice here.)
On a recent episode of The Hoop Collective Podcast, Windhorst revisited the moment Toronto dealt Pascal Siakam to the Indiana Pacers for what many deemed minimal return — opting not to offer him a max contract. That move effectively marked the official start of a full-scale rebuild, following the exits of OG Anunoby and Fred VanVleet in the season prior.
That rebuild, however, may now be over.
“The Raptors are a team that is starting to make noise within the league about looking for a ‘big fish,’” Windhorst noted.
Who is the 'Big Fish' the Toronto Raptors are chasing?
The logical answer? Giannis Antetokounmpo.
Though Giannis has yet to formally request a trade or express a desire to leave Milwaukee, speculation around his long-term future continues to swirl. If Bucks GM Jon Horst receives the right offer this summer, all bets could be off. And the Raptors may just be one of the best-positioned teams to make that call.
For starters, Toronto holds its own first-round picks from 2025 through 2031 — a huge asset in negotiations, particularly since Milwaukee is expected to prioritize draft capital over players. On top of that, the Raptors possess contract flexibility that could match Giannis’ value:
- Brandon Ingram: $38 million
- Jakob Poeltl: $19.5 million
- Chris Boucher: Potential sign-and-trade candidate
Toronto wouldn’t be expected to gut its entire roster in pursuit of Giannis — that would defeat the purpose of acquiring him in the first place. But the Raptors are one of the few teams with both the draft assets and contract pieces to build a compelling offer.
And the motivation? Redemption.
A chance to fix the Pascal Siakam trade?
The Pascal Siakam trade has aged extremely well — for Indiana. After leading the Pacers to the NBA Finals and winning the Eastern Conference Finals MVP, Siakam has reminded fans of his elite two-way play, averaging 21.1 points and 5.8 rebounds on 53.7 percent from the field and 46.3% from three in the playoffs.
The Raptors, meanwhile, are still waiting to write their next chapter.
And there may be some internal pressure to do so — especially with President Masai Ujiri entering a contract year. The last time Ujiri swung big, he landed Kawhi Leonard, who led Toronto to its first-ever NBA title. If the front office sees another chance to pull off that kind of coup, they won’t hesitate.
Toronto doesn’t just want to compete — they want to reclaim relevance, and potentially rewrite the narrative that began with the dismantling of their 2019 title core.
With flexibility, picks, and motivation on their side, the Raptors might not just be lurking.
They might be loading up.