Jon Horst might not be done wheeling and dealing, with reports that the Bucks are interested in restricted free agent Peyton Watson of the Denver Nuggets. According to The Stein Line, “the Bucks are joining the Clippers and Hawks on the list of teams trying to pry Watson away from the Nuggets via sign-and-trade.”
Watson, a 6’8” wing, is coming off a breakout season with the Nuggets in which he shouldered the heaviest offensive load of his young career, finishing the season averaging 14.6 PPG, 4.9
RPG, 2.1 APG, and 2.0 stocks (0.9 SPG, 1.1 BPG) across 54 contests. He also had a career year from three-point range, converting 41% of his 3.6 attempts per game.
While Watson’s breakout was a blessing for the 2025-26 Nuggets, it has put them in a financial bind, as they look to avoid astronomical luxury tax penalties and navigate the restrictive second tax apron. This comes after they signed Christian Braun to a 5-year, $125m extension in October—a precedent Watson’s representatives are almost certain to cite in negotiations—only to see Braun regress during the season and then again in the playoffs.
Of course, the Nuggets won’t willingly let Watson go—he’s a restricted free agent after all—and are reportedly seeking significant compensation in any sign-and-trade scenario. According to The Stein Line’s Jake Fischer, “sources maintain that the Nuggets are seeking compensation on par with what Utah received from the Lakers in their recent sign-and-trade swap that made Walker Kessler a Laker.” As a reminder, that trade saw the Lakers send unprotected first-round picks in 2031 and 2033, as well as first-round swaps in 2028 and 2030, for Kessler.
While such a price suggests a move for Watson is unlikely for the Bucks, there are at least two interesting wrinkles that make it possible. One, Milwaukee has a massive $25.5m trade exception created in the Giannis trade, which also replenished their draft capital. Two—and much less grounded in reality—Watson is represented by none other than Klutch Sports, the same agency that helped secure Gary Trent Jr.’s lucrative new deal with the Bucks just a few days ago.
Yet, even with the trade exception, a deal would be difficult to execute. Denver is unlikely to take back salary in any deal and Milwaukee already has 17 players under contract. Still, Trader Jon has earned his nickname—and history tells us he likes an unexpected move.
What do you think, Bucks fans, should Horst pursue Watson? At nearly 24 years old, he aligns with Milwaukee’s youth movement, fits a positional need, and is yet to reach his prime. But is it worth the biscuit?
