Indiana Used the No. 31 Rights as Immediate Trade Currency
Indiana sent the draft rights to Sandro Mamukelashvili and Georgios Kalaitzakis plus two future second-round picks to Milwaukee for the rights to Isaiah Todd, the No. 31 selection in the 2021 draft. Todd never became a Pacers player. Indiana moved his rights days later with Aaron Holiday and cash in the multi-team transaction that brought Isaiah Jackson to the Pacers. Because Holiday was also part of that separate package, Jackson's full value cannot be assigned to this deal, but Todd's rights clearly served as useful same-night trade currency rather than becoming a dead asset.
Milwaukee Got the Best Direct NBA Contributor
Mamukelashvili gave the Bucks tangible NBA value from the original package. Milwaukee kept him on a two-way contract across two seasons, and he appeared in 65 games before the club waived him in March 2023. He averaged 3.2 points and 2.1 rebounds in 9.6 minutes with the Bucks while also producing at a much higher level for the Wisconsin Herd. Georgios Kalaitzakis had a smaller role, appearing in nine regular-season games for Milwaukee as a rookie. Neither became a core player, but Mamukelashvili supplied more direct NBA service than Indiana received from Todd himself.
The Two Seconds Added More Asset Value
Milwaukee also received two future second-round picks, which widened the return beyond the two draft-rights prospects. The 2024 obligation eventually resolved to the No. 46 slot, where Cam Christie was selected after the pick had moved through later transactions. The 2026 obligation also continued through subsequent routing and ultimately resolved to the No. 32 slot, where Richie Saunders was selected. Those downstream selections should not be credited to Milwaukee as if the Bucks drafted and developed both players, but the realized pick positions show that Indiana surrendered real second-round capital in addition to the two 2021 prospects.
Indiana's Logic Was Defensible but Expensive
The Pacers were trying to move up from Nos. 54 and 60 to No. 31, then use that higher selection inside a separate deal for Isaiah Jackson. That sequencing makes more sense than evaluating the transaction as Indiana simply choosing Todd over Mamukelashvili. Even so, the price included two future seconds and a prospect in Mamukelashvili who produced 65 NBA games for Milwaukee. Indiana did obtain a more flexible draft asset and quickly converted it, but the Bucks accumulated more direct and traceable value from the exchange itself. That distinction supports a Milwaukee win without treating the Pacers' side as irrational.
Final Verdict
Bucks Win — Indiana C+, Milwaukee A-. Indiana acquired the No. 31 draft rights to Isaiah Todd and immediately used those rights with Aaron Holiday and cash in the separate multi-team deal that brought Isaiah Jackson to the Pacers, so the asset had real utility. Milwaukee still received the stronger package from this transaction: Sandro Mamukelashvili played 65 games for the Bucks, Georgios Kalaitzakis reached the NBA, and the two future seconds eventually resolved to valuable second-round slots. The Pacers' sequencing had a purpose, but Milwaukee extracted more direct value from the assets Indiana surrendered.