The Chicago Bulls have made some solid moves this offseason, but there's still one that should be on their minds, especially now that the Denver Nuggets have matched an offer sheet to keep Spencer Jones: Acquiring Peyton Watson.
The Nuggets will hold onto the 25-year-old Jones after matching a two-year, $12 million offer sheet from the Oklahoma City Thunder. But in doing so, they've become the NBA's only second apron team, with their luxury tax bill also jumping from $36 million to $68 million.
That makes extending Watson an even more daunting task for Denver.
Nuggets' Spencer Jones move should put Bulls on Peyton Watson watch
Denver finds itself in a situation Bulls fans should recognize after experiencing the Josh Giddey saga last offseason. The Nuggets are negotiating a deal with an important young player who's asking for more money than the franchise wants to pay.
Watson is reportedly aiming for a long-term contract worth $25 million annually. Considering its unenviable cap situation after deciding to retain Jones, Denver will have an extraordinarily difficult time giving their 23-year-old swingman that kind of money.
Enter the Chicago Bulls, who could certainly use a player like Watson, who emerged as one of the league's up-and-coming 3-and-D wings last season.
The former UCLA standout averaged 14.6 points, 4.9 rebounds, 2.1 assists and 1.1 blocks across 54 games in a breakout 2025-26 campaign, shooting 41.1 percent from 3-point range on an average of 3.6 attempts.
From Dec. 31 through Feb. 1, Watson averaged 22.5 points, 5.6 rebounds, 2.8 assists, 1.1 steals and 1.4 blocks while knocking down 46.2 percent of his 5.4 triple attempts per game.
The 30th overall pick in the 2022 NBA Draft is an ideal fit for a Bulls team trying to build around young two-way talent. Watson has the size (6-foot-8), length (7-1 wingspan) and athleticism that first-year executive VP of basketball operations Bryson Graham desires in a player. He would also give Chicago some desperately needed outside shooting.
The fact that Watson is still only 23 years old and would be an addition for both the present and future should make Graham even more interested in finding a sign-and-trade agreement with Denver.
But now that the Nuggets have backed themselves into a salary-cap corner after matching OKC's offer sheet for Jones, the Bulls should be at the bargaining table aiming to land Watson and add another cornerstone piece alongside Caleb Wilson, Dailyn Swain and Matas Buzelis.
Add us as a preferred source on Google