Nuggets Submit Qualifying Offers To Peyton Watson, Spencer Jones

The Nuggets have tendered qualifying offers to Peyton Watson and Spencer Jones, a league source tells Keith Smith of Spotrac (Twitter link). The move officially makes them both restricted before the start of free agency on Tuesday.

Watson will be among the most closely watched RFAs on the market as several teams are expected to have interest in the 23-year-old wing. The 30th pick in the 2022 draft is coming off a breakout season, averaging 14.6 points and 4.9 rebounds in 54 games (40 starts) while playing 29.6 minutes per night. He shot 49.1% from the field and 41.1% from three-point range.

Watson is viewed as an important part of the Nuggets’ future, but they have to find a way to afford his next contract. That could lead to a trade of Cameron Johnson, Christian Braun or another veteran player.

The Clippers and Lakers are among the teams expected to pursue Watson, and more suitors could emerge if Denver lets him reach free agency. Because he’s restricted, the Nuggets will have the option to match any offer he receives, and a recent report suggests it would have to be in the range of $30MM per year for the team to consider letting him go.

Watson’s qualifying offer is valued at $6.5MM, and his cap hold is $13.1MM.

A rash of injuries in Denver enabled Jones to enter the rotation this season, and he responded by averaging 5.5 PPG and 3.3 RPG while shooting 39.6% from long distance in 64 games (22.7 MPG). The 25-year-old small forward is considered likely to re-sign with the Nuggets, although there could be some interest on the open market. His QO is worth $2.65MM, with an identical cap hold.