The Denver Nuggets are in a contract extension standoff with Peyton Watson, so, of course, they said they would listen to offers for a sign-and-trade. But they may not get anything close to what they wanted in return, at least based on the latest intel. All they wanted was to restock the cupboard with at least one, preferably two first-round picks for the loss of Watson. But either Watson isn't as valuable to other franchises as the Nuggets had hoped, or they're just getting squeezed the same way they're trying to squeeze every last bit of salary out of Watson. Probably the latter.
According to the latest from HoopsHype and Michael Scotto, none of the rumored suitors for Watson have even offered one first-round pick. Not great for the Nuggets so far.
"As of now, the Bucks, Cavaliers, Hawks, and Clippers have not offered a first-round pick to the Nuggets in sign-and-trade discussions for Watson, league sources told HoopsHype," Scotto said.
The Nuggets have been saying since the sign-and-trade rumors about Peyton Watson began that it would take at least two first-round picks to pry the unrestricted free agent away from Denver. But as the weeks have progressed, that number has allegedly dropped to just one, according to ESPN's Shams Charania.
The Nuggets are getting squeezed by the trade suitors
This feels more like the other teams just know the Nuggets are in bad shape against the luxury tax and second apron threshold, which they're now above after re-signing fellow restricted free agent forward Spencer Jones, and they're doing their best to squeeze the Nuggets. Which makes complete sense from that side of the coin.
There's no reason for a team to give up more than they need to rescue the Nuggets from their salary cap situation. All four teams rumored to be in pursuit of Watson can sit on that card until the bitter end, and by doing so, they may just crack the Nuggets into accepting second-round picks.
The Nuggets could owe a fortune in luxury taxes
That's because, as much as the Nuggets continue to say that they want to retain Watson, doing so will come with a hefty, hefty tax bill. At this stage of the game, the Nuggets would be on the hook for a $112 million tax bill for the 2026-27 season if Watson just signs the $6.5 million qualifying offer. That's $44 million more in taxes than they are currently facing. Which is a HUGE number for a franchise that has paid approximately $59 million in luxury taxes. Ever. In total.
So it makes sense that the squeeze is being put on the Nuggets. Eventually, something is going to crack. The best-case scenario would be for the Nuggets to just pay the tax bill this year, which the Kroenke Sports Entertainment ownership group can definitely afford. But that feels like a fanatical pipe dream.
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