The 31-year-old Greek has been named NBA MVP twice and in 2021 he led the Milwaukee Bucks to the club's second title.
According to the AP, Tyler Herro is one of the players going the other way in the trade, in which Milwaukee also gets three first-round picks in the draft.
Speculation has been rife for months about Antetokounmpo's future in Milwaukee. Antetokounmpo openly expressed his displeasure after the club suspended him from playing following a knee injury; he said he believed he was ready to play.
Milwaukee missed the playoffs last season.
