The NBA trade rumor mill kicked back into high gear on Wednesday night, as the Cavaliers, Nuggets, Clippers and Wizards pulled together a sizable sign-and-trade that will get Payton Watson to Cleveland on a four-year, $88 million contract.
The deal will fold in the previous Cavaliers-Dennis Schroder trade from this weekend. The details:
Cavs get: Peyton Watson, Cam Whitmore
Hornets get: Dennis Schroder
Nuggets get: 2031 Cavs first-round pick, 2032 Kings second-rounder
Clippers get: Max Strus
Wizards get: Tre Mann, Clippers’ 2027 second-round pick
There is fallout, though, for the NBA trade rumor mill, and that’s our interest …
NBA Trade Rumors Are Coming for Nikola Jokic
The first thing that naturally comes up after any move the Denver Nuggets make these days is, what does it mean for Nikola Jokic? And after seeing 23-year-old wing Peyton Watson given away for the small cost of a first-round and a second-round pick, the rising angst in Denver is understandable. The team is decidedly thinner with Watson gone, and would get even older if he is replaced by 37-year-old DeMar DeRozan.
That can’t be an appealing reality for Jokic. The Nuggets’ recent gambles have not paid off, most notably the $125 million contract for Christian Braun and the trade that brought in Cam Johnson, and those two moves help explain why Denver could not keep Watson.
But the problem for the Nuggets is what is coming next year when Jokic hits free agency. They will have Jamal Murray ($53 million), Aaron Gordon ($34.5 million) and Braun ($23 million) on the books, and if Jokic comes in with a massive five-year, $355-360 million deal starting at about $63 million, Denver will be at the salary cap with just four players. That’s not going to be a championship core, and the Nuggets are lacking depth and the space to add depth.
Every team in the NBA monitors everything other teams in the NBA are doing, so it is pointless to say that teams will be monitoring the Jokic situation. They’ve be very, very dumb not to. Jokic has been clear that he plans to re-sign in Denver and not use his pending contract situation to force a trade.
But if fissures start to show between Jokic and the organization, the NBA trade rumor mill will run white-hot, especially with the Warriors well-positioned for a Jokic run.
Cavaliers Getting Red Flags
As for the Cavaliers, the red flags on Watson are visible all over his career. He was a solid role player for the first three years, then had a breakout season in 2025-26. But calling it a breakout season is generous–Watson was averaging 6.4 points when he had a wild 32-point game in late November. From there, he had a brilliant two-and-a-half months, averaging 18.0 points and 50.4% shooting.
But it’s a small sample. As one East scout told Heavy Sports, “Young guys like that, they show a flash or two but they never put it together, and do you want to be the team that bets they’re going to finally put it together?”
The Cavaliers are placing that bet. They’re likely to be at or near the luxury tax threshold for five players going into the summer of 2027–Donovan Mitchell ($61 million), Evan Mobley ($54 million), Jarrett Allen and James Harden (about $30 million each), and $20 million for Watson.
Around the league, the presumption was that the Cavaliers would have to make a cost-cutting trade this offseason. It did not really come. If Cleveland–now 10 years into a championship drought–comes up short again, they’ll be expected to make a big cost-cutting move again next summer.
GettyPeyton Watson
NBA Trade Rumors: Jonathan Kuminga Better Make His Move
This does leave Jonathan Kuminga as the big remaining domino, and the Milwaukee Bucks as likely the only team that can give him anything more than a minimum deal or a chunk of an exception. Watson is risky, but his upside is much higher as an offensive player than that of Kuminga, who was holding out hope that a deal could be done that would land him in Cleveland.
That’s off the table. Kuminga’s best option truly might be taking a small deal with the Timberwolves or Lakers to start at power forward and play alongside Anthony Edwards, knowing he can head back into free agency in 10 months.
That may be his only option, in fact, soon.
…..
PSA: Be fair to the Nuggets on this deal. A 2031 first-round pick and a 2032 second-rounder are not outstanding assets, but the whole league knew they could not afford to pay Watson. To still be able to wrangle a potentially good pick out of that, and out of the fact that Watson’s window of production was really just three months, is pretty good management.
With that, let’s update the Big Board:
NBA Trade Rumors: Guards on the Market
Stephen Curry, Warriors. They’re not trading him unless he asks to be traded. And he is not asking to be traded. Still, it’s the dead of summer and imagining what a Curry trade would look like is, at least, fun.
Shaedon Sharpe, Trail Blazers. (Remaining contract four years, $90 million.) Sharpe averaged 20.8 points last season, but he is not a high-efficiency guard, and that will hurt his value on the market. Portland is not looking to thin out its guard logjam–yet. But that figures to change, with Sharpe likely the one to move.
Jordan Hawkins, Pelicans. (Remaining contract: one year, $7 million.) Hawkins never lived up to his lottery billing after his impressive UConn tournament run in 2023, so the fact that he is on the trade block is probably not exactly newsworthy. Still only 24, but he is a career 37.4% shooter.
Ty Jerome, Grizzlies. (Remaining contract: two years, $19 million, including player option.) Jerome took advantage of the mess in Memphis last year and averaged 19.7 points, shooting 42.0% from the 3-point line. The Grizzlies will need to thin out their roster, and the 29-year-old Jerome really does not fit here. He would have good value if Memphis wants to flip him for future assets.
Dalton Knecht, Lakers. (Remaining contract: two years, $10 million, including two teams options.) Knecht showed some promise as a rookie but fell off in Year 2 and is now a contract filler in a potential trade. It has been surprising that no team has been willing to gamble on his upside–he is only 25.
GettyStephen Curry of the Golden State Warriors
NBA Trade Rumors: Active Wing Market
Moses Moody, Warriors. (Remaining contract: two years, $26 million.) Moody is potentially going to be ready for the start of the season, and is said to be staying put. But if the Warriors do anything trade-wise this summer, speculation holds it will involve Moody.
Trey Murphy, Pelicans. (Remaining contract: three years, $88 million.) There have been rumblings that the Pelicans would deal Murphy, and equal rumblings have indicated they won’t. Murphy is a favorite in NBA trade rumors, but New Orleans is slow-playing any potential trade.
Saddiq Bey, Pelicans. (Remaining contract: one year, $6.5 million.) Bey came back with a strong season last year after tearing his ACL, averaging 17.7 points and shooting 45.1% from the field and 36.7% from the 3-point line. It was for a bad team, but he showed he still could be an adequate wing off someone’s bench.
Patrick Williams, Bulls. (Remaining contract: three years, $54 million,) It would be symbolic and probably cathartic for fans to see Williams dumped as a new front office and coaching staff comes in. But Williams’ contract is prohibitive.
Jonathan Kuminga, Hawks. (Remaining contract: Free agent.) He is the last remaining free-agent prize who might not be all that prized, it turns out. The Lakers, Bucks, Kings and Timberwolves are among the teams interested, but it’s hard to find a path to make a deal happen for most teams. Kuminga is desperately looking for a sign-and-trade (Atlanta has his rights) to rescue his summer.
Michael Porter Jr., Nets. (Remaining contract: one year, $40 million, partial guarantee.) Porter will wind up in the trade-candidate bin if extension talks falter.
Derrick Jones Jr., Clippers. (Remaining contract: one year, $10 million.) Jones is a defensive ace still, and his expiring contract gives the Clippers some wiggle room to move him. They’re caught in the Aspiration pause, however.
Kyle Kuzma, Bucks. (Remaining contract: one year, $20 million,) His expiring contract is attractive and if the Bucks pull a sign-and-trade for Peyton Watson, Bennedict Mathurin or Jonathan Kuminga, he could be involved.
DeAndre Hunter, Kings. (Remaining contract: one year, $25 million.) The Kings want to keep him as an expiring contract they could potentially flip, but he’s being mentioned as a possible target in the summer market.
Royce O’Neale, Hornets. (Remaining contract: two years, $21 million,) The Hornets would not be able to trade O’Neale with anyone else yet, so they could wait on a deal. But the team has gotten calls about moving him on after he was traded last month.
Jake LaRavia, Lakers. (Remaining contract: one year, $6 million.) Hustles, plays every game, but inconsistent. His contract makes him an attractive piece, though, as the Lakers figure out how to finish their roster.
Herb Jones, Pelicans. (Remaining contract: four years, $82 million, including player option.) Jones is a popular name on the market, but the Pelicans are said to want two first-round picks, and with Jones having struggled with injuries and his 3-point shot in the past two seasons, that’s probably too steep. His remaining contract scares off potential suitors, too.
Cam Johnson, Nuggets. (Remaining contract: one year, $23 million.) The Peyton Watson move probably means Johnson stays put, but he will be very trade-able in the coming months before the deadline. Johnson was a disaster in his lone season in Denver, and he has been a prominent feature on the NBA trade rumor mill for years now. He still has enough of a reputation around the league to warrant trade interest, but the Nuggets value the fact that he has an expiring contract.
PJ Washington, Mavericks. (Remaining contract: 4 years, $90 million.) Like Gafford, Washington is aging out of the Mavericks’ timeline, as he turns 28 this summer. He’s a stretch 4 who plays good defense, but his shooting has been suspect–he made just 32.5% of his 3s last year. Like Gafford, they’re hoping to get a first-round pick, but the contract is prohibitive.
GettyJake LaRavia #12 of the Los Angeles Lakers
NBA Trade Rumors: Power Forwards/Centers Who Could Still Move
Jalen Smith, Bulls. (Remaining contract: one year, $9 million.) Plenty of teams are still on the hunt for a backup center, and Smith would be a nice fit in multiple situations. The Bulls could cash in for younger assets.
Nikola Jovic, Heat. (Remaining contract: four years, $62 million.) There is trepidation about trading for Jovic, who is certainly available and is still only 23 years old. But the remaining contract is a hefty bite for teams to take. Are the Mavericks the answer?
Grant Williams, Hornets. (Remaining contract: one year, $15 million.) The Hornets are not quite done with their roster, and Williams’ expiring deal has some value. He can still be a worthy big man off the bench.
Zeke Nnaji, Nuggets. (Remaining contract: four years, $32 million.) Dumping Nnaji would get the Nuggets under the second apron and free them up to resolve Peyton Watson’s situation. The Hornets are a potential landing spot.
Jarred Vanderbilt, Lakers. (Remaining contract: two years, $26 million.) The Lakers have been trying to find a taker for Vanderbilt, but no one has been eager to take on his contract. It’s possible the Lakers will use him in their rotation, much to JJ Redick’s chagrin, and attempt to trade him during the season.
Aaron Gordon, Nuggets. (Remaining contract: three years, $110 million.) Someone may have to go depending on how the Peyton Watson ordeal finishes. It could be Gordon, though his recent injury history makes that tough.
Daniel Gafford, Mavericks. (Remaining contract: 3 years, $54 million.) Gafford will be 28 in October, and with the Mavs focused on getting younger, moving him along has been one of the team’s top options. They’re hoping to get a first-round pick for Gafford, but that might be a big ask because of his contract.
NBA Trade Rumors: Peyton Watson Deal, Nikola Jokic Trade Talk & Cavaliers Gamble