What Could The Atlanta Hawks Offer In A Potential Sign-And-Trade For Peyton Watson?

The NBA world is awaiting a decision from LeBron James, but the offseason has slowed down considerably, and aside from James and Jonathan Kuminga, the two most interesting free agents are restricted free agents, Peyton Watson and Jalen Duren.

It is harder to pull restricted free agents away from their teams, but the Lakers were able to pull Walker Kessler away from the Jazz at the cost of a massive contract, two first -round pick swaps, and two unprotected picks.

The Denver Nuggets are reportedly wanting a similar package from teams interested in obtaining Watson, and according to NBA insider Jake Fischer, the Atlanta Hawks have emerged as one of the teams that is showing interest in Watson:

"Atlanta, sources say, has also shown some fresh interest in Watson, which would likewise require a sign-and-trade to make it happen.

That said, whether it's the Hawks or the Clippers or any other suitor, sources maintain that the Nuggets are seeking compensation on par with what Utah received from the Lakers in their recent sign-and-trade swap that made Walker Kessler a Laker."

I would not expect the Hawks to give up that kind of pick capital for Watson. Onsi Saleh and this front office have repeatedly said that they are not going to skip steps in building this team, and they are not one move away.

If the price came down, though, Watson fits on the Hawks timeline and would be a great addition to their team. What would an offer have to be for the Nuggets to consider moving him?

Potential Hawks Offer

Peyton Watson Denver Nugget — Feb 3, 2026; Detroit, Michigan, USA; Denver Nuggets guard Peyton Watson (8) tries to drive past Detroit Pistons guard Daniss Jenkins (24) in the fourth quarter at Little Caesars Arena. Mandatory Credit: Lon Horwedel-Imagn Images | IMAGN IMAGES via Reuters Connect

Here is the trade:

Hawks Receive: Peyton Watson (signs a four-year, $80 million deal) and Zeke Nnaji

Nuggets Receive: Zaccharie Risacher, Mouhamed Gueye, a 2027 first-round pick (least favorable of NOP and MIL, top four protected), and three second-round picks

The most important thing to note about any sign-and-trade is that Denver has to agree to it. If they don't think a deal benefits them, they can just decline to do any business. That is what makes restricted free agency so tricky and gives teams that are in the Nuggets' position all of the leverage.

I think this would be an interesting deal for both sides. Watson has shown tantalizing talent, but is still relatively unproven and has not been able to stay healthy. The Hawks are also not in a desperate situation as the Lakers were with Kessler, and are not going to be overpaying just to land Watson.

I think if Atlanta opts to take back Nnaji, they could get away with not having to give up multiple first -round picks in any deal with Watson. They could send the 2027 first-round pick that is the least favorable of Milwaukee and New Orleans, which is also top-four protected. It would give the Nuggets a first-round pick to move in a trade to upgrade their roster.

Risacher and Gueye would give them depth, but also be expiring contracts that they could either keep or move. Gueye would really help Denver's bench as a defender and would be the most likely of the two for Denver to keep.

For the Hawks, they do move a first -round pick and give Watson a new contract, but he fits in great with this current core of Jalen Johnson, Dyson Daniels, Nickeil Alexander-Walker, and Onyeka Okongwu. They would have to figure out which of their starters would head to the bench to make room for Watson.

This past season, Watson averaged a career-best 14.6 PPG, a career-best 4.9 RPG, while shooting 49% from the floor and 41% from three, and is a solid defender as well.

Would Denver actually take this deal? My gut tells me no, but I think this is the most the Hawks are going to offer for him. They could throw in a first-round pick swap, but giving away multiple first-round picks does not seem like something Saleh and this front office are going to do.

As long as Watson remains un-signed, there are going to be interested teams. The Hawks continue to be mentioned as one of those teams and that should be noted, even if it seems unlikely.

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