How open is the Denver Nuggets' title window?
After winning 54 games in 2025-26 to secure the Western Conference's No. 3 seed, Denver fell to the Minnesota Timberwolves in the first round. But rather than a splashy acquisition, this offseason had seen the 2023 champions bank on a reshuffled conference, the mastery of three-time Most Valuable Player Nikola Jokic and elite continuity.
But next season will look a bit different for Denver after the franchise dealt forward Peyton Watson to the Cleveland Cavaliers to end one of the summer's biggest restricted free agency sagas.
ESPN's staff of experts is looking back at the offseason and taking an early look at the 2026-27 season for all 30 teams, with 30 pieces -- one for every team -- rolling out each weekday through Sept. 18. We're answering the biggest looming questions, evaluating X factors and much more for all 30 teams.
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Offseason at a glance Key additions: Marvin Bagley III, Lonnie Walker IV Key retentions: Spencer Jones, Tyus Jones Key subtractions: Watson, Tim Hardaway Jr., Jonas Valanciunas
Finding a resolution to Watson's restricted free agency was Denver's most important piece of summer business.
Watson is a draft success story, rising from the 30th overall pick into one of the league's more intriguing young two-way wings. But retaining the 23-year-old would have been expensive -- via either a sky-high luxury tax bill or a salary-slashing move to get off an important veteran and generate more breathing room for a new deal.
After Wednesday's deal to send Watson to Cleveland, Denver's front office can shift its attention to escaping the salary cap's second apron. The Nuggets are currently the league's only team above it. -- Anthony Slater
Zach Kram's grade: Nuggets earn 'D' for Watson sign-and-trade
Losing Watson means the Nuggets don't get to reap the long-term rewards of developing him from a raw reserve into a bona fide contributor. Amid a host of failed draft picks in the 25-40 range over the last half-decade -- Jalen Pickett, Julian Strawther, Hunter Tyson, Bones Hyland -- Watson was the one standout, and Denver clearly missed his two-way ability in its shocking playoff loss to the injury-ravaged Timberwolves last spring.
But now the Cavaliers will benefit, because they were able to create enough financial wiggle room to dip below the second apron and add Watson, while the Nuggets were not.