The Milwaukee Bucks are seen as the favorites to land Peyton Watson, sources told Jake Fischer of The People's Insider.

The Bucks have a $25.5 million trade exception to use in a potential deal for Watson.

The Nuggets are looking for at least two first-round picks in a sign-and-trade deal involving Watson.

The Nuggets are currently the only team projected to be in the second apron next season.

Watson could also sign a $6.5 million qualifying offer and return to Denver next year.