The Denver Nuggets were already into the dreaded second apron before they re-signed restricted free agent Peyton Watson. The Cleveland Cavaliers were desperate after missing out on LeBron James in free agency. The Los Angeles Clippers were waiting to take advantage of a good deal that came their way. One of the biggest questions lingering ahead of the 2026-27 season found a resolution on Wednesday night with a three-team deal that accomplished an objective for everyone involved. The Washington Wizards and Charlotte Hornets got in on the action too to make this an even bigger trade.
The Cavs acquired Watson, but that’s just the start of this massive deal. Here’s the end result:
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Cavs acquire: Peyton Watson, Cam Whitmore
Nuggets acquire: Cleveland’s unprotected 2031 first-round pick, 2032 Sacramento Kings second-rounder
Clippers acquire: Max Strus
Wizards acquire: Tre Mann, 2027 Philadelphia 76ers second-rounder (via the Clippers)
Hornets acquire: Dennis Schroder
The Nuggets gained a valuable future asset, but could take a step back this season. The Cavs paid a heavy price for Watson. The Clippers picked up a good player for nothing, and the Wizards added a scoring guard who still has some upside. Let’s grade this deal for every side.
Cavs trade grade for Peyton Watson deal
Watson signed a new four-year, $88 million deal with a player option to complete his sign-and-trade to Cleveland. The Cavs have been looking for a fifth starter in their “core four” model for years, and in some ways it’s easy to see Watson’s appeal. A 6’8 wing with with a 7’1 wingspan, he’s had a strong defensive reputation as a wing stopper who has often drawn the toughest assignment on the floor during his early years with Denver. His impact numbers don’t necessarily match his reputation — 48th percentile defensive EPM, slight negative defensively in most other metrics — but it still feels like he has a lot of upside on that end now that he’ll have better interior defenders behind him in Evan Mobley and Jarrett Allen.
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The offense feels like a bigger question for Watson to me. Strus was a good fit in Cleveland as a super high-volume three-point shooter. Watson takes a lot of midrange shots — 80th percentile in mid-range frequency last season, per Cleaning the Glass — that seemingly won’t be available on the Cavs with the ball in Donovan Mitchell and James Harden’s hands. Watson was a knockdown corner three shooter at 52% last year without a ton of volume, so it will be interesting to see if Cleveland can get him more chances in those spots. Watson broke out in January of last season when Jokic was out with injury, averaging 21.9 points, 5.5 rebounds, and three assists per game on 49% shooting from the floor and 46.2% shooting from three. It felt like his hot shooting on that stretch was unsustainable, and then he suffered a season-ending hamstring strain once Jokic came back.
I respect Cleveland for getting aggressive to find a starting wing after missing on LeBron. I predicted the Cavs would land Watson earlier this month. But in some ways I feel like Strus was a better fit for what they needed than Watson. Giving up a far out unprotected first is a highly valuable asset, and I’m skeptical that Watson has done enough in his career to warrant that. I have no problem with the contract, and would laud Cleveland if they just signed him for money. Instead, they lost Dennis Schroder, Strus, and an unprotected 2031 first rounder just to add Watson during a time when depth is so important. Taken in full, this feels like an overpay to me.
Cavaliers grade: C
Nuggets trade grades for Peyton Watson deal
The Nuggets should be trying to win the championship in every season when Nikola Jokic is at this point in his career. Jokic turns 32 years old before the playoffs, and he still has a case for being the best player in the world, though it’s starting to feel like Shai Gilgeous-Alexander and Victor Wembanyama have passed him. Jokic is still good enough to be the best player on a championship team, but the Nuggets haven’t put a championship team around him. By trading Watson, they’re taking a step back for the upcoming season. It’s hard to argue with that.
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The Nuggets painted themselves into a corner with their cap situation. They were going to be deep into the second apron if they kept Watson. Overpaying Christian Braun and Zeke Nnaji was their first mistake, and Aaron Gordon‘s lack of availability feels even more problematic. I just don’t think Denver was going to be championship material even if they kept Watson. I had some questions about his fit with Jokic, and ultimately just don’t think Watson is that good. Getting this type of return for him could be critical for rebuilding the team around Jokic moving forward, assuming he signs an extension after this season.
Watson essentially got traded for the same thing as freaking LaMelo Ball, who grades out as a borderline top-20 player. Watson is nowhere near that level, so to be able to land an unprotected far out first rounder for him is great value for Denver in a vacuum. To me, this pick gives Denver a lifeline to make another big splash, even if it doesn’t happen this season. Trading Braun’s contract plus the pick could get them a good player eventually, especially if Braun can bounce back a little this season. I don’t think the Nuggets were really going to push the best of the West this year, and I’d rather have Cleveland’s unprotected 2031 first than Watson. People are crushing Denver for this deal, but I like it for them, even if it’s depressing that they are essentially punting Jokic’s age-31 season.
Nuggets grade: B+
Clippers trade grade for Max Strus deal
The Clippers are probably going to be bad this year. Kawhi Leonard is still likely off to the Toronto Raptors pending the NBA’s bogus investigation into his obvious cap circumvention, and the Clippers got an awesome return for him if the deal goes through as intended. Strus turns 31 years old in the second half of this season, and he isn’t helping the Clippers’ future. He’s still a good player who can contribute right now for a team that owes its 2027 first-round pick to the Thunder. Tanking is dead with the lottery changes, and the Clippers couldn’t even tank under the old system this year, so I like the idea of picking up a high-volume three-point shooter with some size to buzz around the floor splashing shots. Strus’ gravity should help out Keaton Wagler‘s development in his rookie year, and also help balance the floor for all those Brandon Ingram mid-range attempts.
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This trade won’t move the needle that much for the Clippers, but it’s still a good asset play, and they deserve credit for that.
Clippers grade: A
Wizards trade grades for Tre Mann deal: B. Mann grades out really poor in impact metrics, but he’s fun to watch when he gets cooking with his off-the-dribble shooting. Is it crazy to think I like him more than Bub Carrington? Just don’t expect anything other than buckets for him.
Hornets trade grades for Dennis Schroder deal: B+. Schroder is still pretty solid as a backup point guard. The Hornets are going to chuck a ton of threes, and didn’t really have a guard who could offer a changeup of generating paint touches. That’s what Schroder does, and I like the idea of Charlotte picking him for nothing as a backup to Coby White after Christian Anderson struggled so badly in summer league.
