5 Reasons Milwaukee Bucks Should Panic After Game 2 Loss vs. Indiana Pacers

The Milwaukee Bucks tumbled into a two-game hole in their first-round series on Tuesday, losing a 123-115 shootout against the Indiana Pacers.

And even as the series shifts to Milwaukee, things are looking bleak for Giannis Antetokounmpo and his Bucks.

Across NBA history, teams that go up 2-0 in a best-of-seven end up winning the series over 90 percent of the time. Milwaukee's defense looks almost hopeless against this Indiana attack. And Damian Lillard, who returned to action from a calf injury earlier than expected, does not appear to be 100 percent.

For those reasons and more, it might be panic time for the Bucks.

The Bucks ranked in the bottom half of the league in points allowed per 100 possessions in the regular season, and that number was bolstered by their conference schedule (five of the bottom six offenses in the league are in the East).

Indiana, of course, isn't one of those. The Pacers were top-10 on that end in 2024-25. They were second last season. And facing this porous defense may give them the confidence to start scoring like they did in that prior campaign.

In fact, Indiana's offensive ratings from Games 1 and 2 were both better than its season-long mark from 2023-24. The team is shooting 41.4 percent from deep in the series. Tyrese Haliburton has 24 assists. Andrew Nembhard has 11.

In short, the Pacers are getting just about whatever they want.

The Bucks look a step slow on most possessions, especially veterans Brook Lopez, Kyle Kuzma, and of course, Lillard.

And those physical limitations, with the possible exception of whatever's happening with Lillard's calf, aren't likely to get better during the course of a series. Honestly, that particular issue could get worse with those legs registering playoff minutes.

The Bucks defense is in real trouble. And now it has to hold in four out of five games to avoid a first-round exit.

This shouldn't be all that surprising. Lillard turns 35 in July. He's approaching the top 100 all-time in career regular and postseason minutes played.

And when the surprise news of his possible return from a calf injury for this series broke, we learned how unusual this timeline is.

So again, we probably shouldn't have been shocked to see Lillard struggle defensively. Even his difficulty on the other end was probably predictable.

Tuesday, he went 4-of-13 from the field for 14 points and was a minus-7 for the game.

It's possible that that was a "shake off the rust" performance and Lillard will look better at home for Game 3, but playoff basketball could also aggravate whatever he's dealing with.

At best, this whole situation feels unsteady.

It's obviously better to be at home than on the road, but the Bucks may not get a ton of relief from Indiana's high-octane offense in Milwaukee.

In the regular season, the Pacers had a winning record and positive net rating on the road, but even that doesn't tell the whole story.

If you shave Indiana's cold 10-15 start off their numbers, they're 18-9 with the fourth best road net rating in the league. And their attack has traveled well. Over that span, Indiana is scoring 117.8 points per 100 possessions in away games (fifth in the league).

Barring a dramatic shift in Milwaukee's effort or physicality, don't expect a dramatic shift in the Pacers' offensive output.

When you have Giannis on your roster, especially when he's right in the middle of his prime, title contention is the expectation.

But with all due respect to the Pacers, they weren't close to the Cleveland Cavaliers' or Boston Celtics' level in the regular season. And if the Bucks are down 0-2 to them, they're likely not an eventual threat to Cleveland or Boston.

Six months ago, it was fair to have some optimism about a Giannis-and-Lillard-led team that had a full offseason and training camp together, but the regular season and first two playoff games have been a brutal reality check.

Hours before Tuesday's tipoff against Indiana, longtime NBA insider Chris Haynes joined the Dan Patrick Show to discuss the future of Milwaukee.

And what he said might not be fun for Bucks fans to hear.

Ownership and the front office would almost certainly look at every contingency short of a Giannis trade before going that route, but Giannis could also emerge from this season with some doubt about this organization's ability to get him a second title.

The Bucks made it to the second round the year after they won the title, but each of the next two seasons ended in the first. The front office's moves over that span were far from inspiring and have left the team with little cap flexibility this summer. Most of the team's future first-round picks are spoken for (whether through swaps or outright trades). Even Lillard, with his age and injury concerns, probably doesn't have a ton of trade value.

So, outside of another coach firing, the only "wholesale change" Milwaukee might be able to make is a Giannis trade.