The NBA offseason is coming to a close, but the Chicago Bulls should still be open to making at least one more game-changing move: acquiring Denver Nuggets swingman Peyton Watson.
Denver's decision to sign veteran free agent Lonnie Walker IV just made it even more possible.
Bulls executive VP of basketball operations Bryson Graham has made more logical calls in his first summer on the job than Chicago's previous front office did in five. The franchise is undoubtedly in a better place than it was only a few months ago, and Bulls fans have a new lease on life and hope for the future.
Adding Watson would be another step in the right direction.
Denver Nuggets sign free agent guard Lonnie Walker IV
In a vacuum, adding a veteran like Walker on a minimum-salary deal to fill one of your final bench spots is a smart decision. Denver lost Tim Hardaway Jr. in free agency, and Walker is a seven-year NBA veteran who's played 342 games.
But the move comes with pricey ramifications for the Nuggets.
Denver is, for the moment, the only team in the second apron, and the Walker signing will cost at least $12 million in luxury tax payments, per Brett Siegel of ClutchPoints.
Keeping Watson on just a $6.5 million qualifying offer will bring that tax payment to over $120 million.
Bulls' chances of acquiring Peyton Watson just went up
The Nuggets were already in a tough spot financially if they hoped to extend Watson. Then, they matched an offer sheet from the Oklahoma City Thunder to keep Spencer Jones, and now they've added Walker.
Watson's position in Denver seems precarious.
The 23-year-old reportedly has an offer on the table worth $70 million over five years. That annual average salary of $14 million is well below the $25 million per year he's hoping for.
The Bulls have more wiggle room to make that money work, and the Nuggets have reportedly lowered their asking price to a first-round pick and a "notable player" in a sign-and-trade deal, according to Michael Scotto of HoopsHype.
The Milwaukee Bucks, Los Angeles Clippers, Atlanta Hawks and Cleveland Cavaliers are interested in Watson. As an emerging 3-and-D swingman who averaged career-highs in points (14.6), rebounds (4.9), assists (2.1) and minutes (29.6) while shooting 41.1 percent from three last year, he's the kind of long-term upside play any team should covet.
The Bulls need to insert themselves into the bidding. Denver's curious decision to sign a veteran like Walker should only make it easier.
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