Denver's young wing is looking safer to keep by the day, and the market keeps doing the Nuggets a favor.
Peyton Watson's free agency has been the biggest storyline of the Denver Nuggets' summer, and every day that goes by seems to work out in the team's favor.
The 23-year-old wing hit restricted free agency as one of the most sought-after names on the market after a career year that turned him into a full-time starter and one of the better perimeter defenders in the league.
Denver finished the regular season 54-28 as the third seed in the West, then lost in six games to Minnesota in the first round without him due to a hamstring injury.
Now, one by one, the teams built up as threats to sign him are running out of ways to do it.
The Market Keeps Drying Up
The Lakers had a fresh batch of cap room once LeBron James left in free agency, and Denver spent weeks watching that threat alongside two others with similar spending power, all of which spent their room within days of the market opening.
The Lakers sent big money to Walker Kessler, Quentin Grimes, Collin Sexton, and Sandro Mamukelashvili in one wild stretch, Brooklyn used its room on Keon Ellis and Mo Wagner, and Chicago handed Norman Powell a 45 million dollar deal instead of chasing a player whose length and defensive range stood out all season.
That leaves the Clippers, who picked up real flexibility after trading Kawhi Leonard to Toronto and stood as a serious threat once free agency opened.
That pursuit has cooled too, since Los Angeles chose to tender qualifying offers to its own free agents instead of clearing the space a real offer sheet would need.
A Price Denver Can Afford
Denver already has a number in mind.
Reports point to a four-year deal worth about 90 million dollars, a projection ESPN's Bobby Marks backed when he wrote that "Watson should be a priority for Denver," even if it means paying into the luxury tax.
The league's second apron sits at roughly 222 million dollars for next season, and the Nuggets already carry a heavy bill for a core built around a former MVP still playing at an MVP level, plus Jamal Murray and Aaron Gordon.
Denver holds full Bird rights on Watson, so it can go over the cap to sign him no matter what the final number costs against the rest of the roster.
Why Watson Is Worth Keeping
Watson can guard multiple positions, finish above the rim, and space the floor, and Denver found out how much it needed him once Nikola Jokic missed time in January.
Watson had to carry a bigger scoring load while the offense kept humming.
Nuggets executives Ben Tenzer and Jonathan Wallace made their stance obvious back in May, telling reporters they want Watson wearing a Denver uniform for years to come.
His absence in the playoff loss to Minnesota was easy to spot, and letting a 23-year-old two-way piece walk for nothing would set the roster back years.
Every team that once looked like a threat has spent its money elsewhere, and Denver just has to close the deal.
