MILWAUKEE — The Milwaukee Bucks are almost ready to turn its eyes to the 2024-25 season, and it’s fun to deal in the present.

But what about the future?

The Bucks, who have been in ”win-now” mode the past several years, have spent a lot of draft capital while chasing titles. Compared to other NBA franchises like the Oklahoma City Thunder and San Antonio Spurs, who’ve been stockpiling future draft picks, the Bucks’ war chest of future draft capital seems rather bare. This is in large part due to their goal of building a championship-caliber roster centered around Giannis Antetokounmpo, which is why most of their upcoming draft capital has vanished due to trading for Jrue Holiday in 2020 and Damian Lillard last offseason.

These big-name acquisitions over recent years have caused the Bucks to have limited options when it comes to upgrading its roster, though stealing Gary Trent Jr. earlier this offseason was a big deal. Coming off its second straight first-round playoff exit, there is little Bucks’ general manager Jon Horst has to work with in relation to trading away future draft picks for proven NBA players or unproven prospects.

Here’s a deep dive into the current status of the Bucks’ future draft picks, the ones they’ve traded away and the options they will have moving forward.

The Bucks have made many headlines from the trade market over recent years as they’ve pushed to contend for titles during Giannis Antetokounmpo’s physical prime. Here’s a look at the cost of all those transactions.

Having limited draft assets immediately available, the Bucks’ front office needs to be as strategic as possible when exploring various avenues to enhance the roster. Here are some ideas that Horst could explore later down the road.

1. Utilize future picks for in-season trade

Depending how well the Bucks open the first half of the season, they could find themselves active ahead of the trade deadline, which ends on Feb. 6 at 3 p.m. ET. They could package their 2031 and/or 2031 second in a combination with a current player to upgrade their roster.

2. Strategize potential pick swaps with Portland and New Orleans

Considering the amount of pick swaps the Bucks have with both New Orleans and Portland, Milwaukee could engage discussions with both teams to potentially avoid these swaps. They could offer current players or other assets in order to retain certain picks if they were to have a down season in one of the years they’d swap picks.

3. Hang on to future picks to speed up a possible rebuild

Bucks’ fans may not like to hear this, but the clock is ticking on thier championship window. Damian Lillard recently turned 34 years old, signifying he’s on the very backend of his prime. Khris Middleton has been riddled with leg injuries over the past two seasons, leaving his ability to bounce-back to all-star form in serious question. Giannis Antetokounmpo will also turn 30 years old later this December and while he’s shown no signs of slowing down, he could opt out of his 2027-28 player option and test free agency if the Bucks don’t make serious noise in the playoffs over the next handful of seasons. With all that in mind, Milwaukee could opt to hold onto its future picks in order to prepare for a possible rebuild later down the line.

It’s no secret the Bucks are in a complex situation regarding their future draft assets. They’ve already mortgaged most of their future draft capital to build a championship-level roster, but yet they still find themselves holding onto some valuable first-round picks. The key for the Bucks is to leverage the assets they still own to further enhance their current roster while also maneuvering through the complexities of all their traded picks and picks swaps.

Going forward into 2024-25, it will be interesting to see if Horst will make any moves that will see himself trade away more assets or try and recoup some by trading away current players on the roster.