Cavaliers reportedly waiving $15M former first-rounder after acquiring Nuggets' Peyton Watson

The Cleveland Cavaliers have been trending in the right direction over the last few weeks as they look to finish the summer strong. After moving on from their pursuit of Jonathan Kuminga, Peyton Watson quickly became their primary target.

Watson is a 23-year-old NBA champion with plenty of upside. As of Monday, the Cavaliers were already engaged in serious trade discussions with the Denver Nuggets to acquire the young wing.

“The Nuggets and Cavaliers are deep in trade negotiations involving Peyton Watson,” NBA reporter Evan Sidery posted.

Cleveland worked aggressively to get a deal done with Denver, believing Watson could become a valuable piece of the roster for years to come. On Wednesday, the Cavaliers finally completed a complicated five-team trade to acquire him.

“Denver is trading Watson to the Cleveland Cavaliers and will receive Cleveland's 2031 first-round pick and a 2032 second-rounder from the Sacramento Kings. The Cavs are sending Max Strus to the Los Angeles Clippers, which gives them the flexibility to sign Watson to a four-year, $88 million contract. There were multiple other minor moves involved to complete the deal, including the Washington Wizards and Charlotte Hornets," Bleacher Report's Joseph Zucker wrote.

As part of the deal, Cleveland also acquired former first-round pick Cam Whitmore. ESPN’s Bobby Marks reported Wednesday night that the Cavaliers plan to waive and stretch Whitmore's contract once the trade is finalized.

“They get Cam Whitmore as part of the trade. They are going to waive and stretch Whitmore over three years. It’s basically a $1.8 million cap hold that will then give them the flexibility to go out and sign James Harden to a new deal,” Marks said.

Whitmore has seen his stock fall considerably since entering the NBA, and he now faces another opportunity to prove he belongs on an NBA roster. Unfortunately for Whitmore, Cleveland needs the additional financial flexibility to complete its plans for James Harden.

Whitmore is currently on a $15 million rookie contract. The former No. 20 overall pick in the 2023 NBA Draft will now have to find his next opportunity as he looks to revive his young career.

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