What happened: Milwaukee has emerged as a team with sign-and-trade interest in Nuggets restricted free agent forward Peyton Watson, joining the LA Clippers and Atlanta Hawks as known suitors, per The Athletic's Jones. Watson remained unsigned as of Thursday night while Denver works through the restricted free agency process.

Why it matters: The Nuggets want to keep the 23-year-old forward in their starting lineup but are already over the luxury tax and close to the NBA's second apron. Any of the three suitors would need to structure a sign-and-trade, complicating Denver's path to retaining a piece that filled its athleticism gap alongside Nikola Jokic, Jamal Murray and Aaron Gordon.

What to watch: Watch for movement on a Watson sign-and-trade as Denver balances retention against its tax position, with the Clippers, Hawks and now the Bucks all in the mix.