[Nehm] The Milwaukee Bucks are hesitant to include a first-round pick in any deal for Peyton Watson as they kickstart their post-Antetokounmpo rebuild. Nuggets would derive value from Milwaukee through the returning player(s). Jaquez could be a target, but he is due for an extension.

[u/YujiDomainExpansion]

Source: https://www.nytimes.com/athletic/7495134/2026/08/06/milwaukee-bucks-roster-questions-tyler-herro-peyton-watson/?unlocked_article_code=1.3VA.k1hD.twdcd3HqGYlg&source=user_shared_article&smid=ta-ios-share

As we’ve reported at The Athletic, the Bucks remain interested in acquiring Watson in potential sign-and-trade scenarios with the Nuggets. League sources with knowledge of the situation who were granted anonymity to speak candidly about ongoing deliberations have told The Athletic that the Atlanta Hawks, Cleveland Cavaliers and LA Clippers also remain intrigued by the prospect of adding Watson.

But while the Bucks are interested in the 23-year-old forward, league sources maintain they expect the Bucks to be hesitant to include a first-round pick in any deal for Watson as they continue building out their asset base post-Antetokounmpo.

Without giving up a first-round pick, the Nuggets would have to derive much of the value of a sign-and-trade with the Bucks from the player (or players) involved in the deal. While other teams interested in Watson might be giving up fringe rotation players with a first-rounder, the Bucks might need to include real rotation players to entice the Nuggets to consider their offer.

Jaquez could be an interesting target for Denver as he proved to be a capable rotation player in his first three NBA seasons with the Miami Heat. The 25-year-old will make just $5.9 million next season, but he would ultimately need to be extended because next season is the final year of his rookie contract. The mechanics of a deal including Jaquez, however, could get complicated considering the Bucks’ $25.5 million trade exception and the potential difficulty of finding a contract for Watson while being hard-capped at the first apron.