What this failed trade means for the Milwaukee Bucks and Giannis Antetokounmpo

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Where do the Milwaukee Bucks go now that their reported sign-and-trade for Bogdan Bogdanovic has collapsed?

My ESPN colleague Adrian Wojnarowski reported Wednesday that the deal sending Bogdanovic to Milwaukee as a restricted free agent -- news that first broke late Monday night -- is no longer in play.

How does this affect Giannis Antetokounmpo's decision about his future? Can the Bucks continue to improve a roster that will include Jrue Holiday as part of a separate trade?

And what does this mean for Bogdanovic and the Sacramento Kings? Let's break down the implications.