The Denver Nuggets have made a $70 million offer to restricted free agent forward Peyton Watson, but it's unclear if it's enough to keep him in Denver. The team's financial situation has left them with limited options, and Watson and his camp have already declined the offer.
The Nuggets are facing a difficult financial position, with a projected luxury tax penalty of $68 million, the highest in franchise history. They have only signed one player this offseason, re-signing Spencer Jones to a two-year, $12 million deal. This has left them with two roster spots to fill and a tight budget to work with.
Teams like the Los Angeles Clippers, Milwaukee Bucks, and Cleveland Cavaliers have expressed interest in acquiring Watson through a sign-and-trade. The Nuggets are likely to need at least one first-round pick and one notable player in any sign-and-trade scenario, according to multiple reports.
Watson is coming off a breakout season at just 23 years old and is looking to take another step forward in a bigger role. His camp has already declined the Nuggets' offer, continuing to seek larger annual pay elsewhere via sign-and-trade.
The Nuggets' financial situation has put them in a difficult position, and it's unclear if they can bring Watson back. The team's price tag in any sign-and-trade scenario has shifted to at least one first-round pick and one notable player.
The teams interested in Watson will now have to put together the best trade package for Denver. The Nuggets are in a tough spot, and it could come down to which team can offer the most in a trade.
Source: Yahoo Sports