Nuggets waive Julian Reese after trading for Peyton Watson in sign-and-trade

The Denver Nuggets waived Julian Reese shortly after acquiring the forward/center in a Peyton Watson sign-and-trade with the Washington Wizards, according to Yahoo Sports. The report says Denver included Reese in the larger transaction package and then moved to release him after the Nuggets secured their main piece from Washington.

Yahoo Sports further reports that the sign-and-trade had been expected to produce Reese’s short runway with the Nuggets. In practical roster terms, the waiver does not negate the Nuggets’ ability to make the transaction work financially, but it does leave Reese without a guaranteed spot on Denver’s season-opening roster.

The transaction was confirmed through ’s transaction log, the Yahoo report notes. That kind of confirmation matters because offseason sign-and-trade deals often involve multiple moving parts, including timing, salary structure, and whether additional players are used as a bridge to make the cap work.

Denver’s move places the emphasis back on what the Nuggets were pursuing with Washington. Peyton Watson’s arrival is the centerpiece of the reported agreement, while Reese’s inclusion appears to have been tied to the mechanics of completing it rather than a long-term plan for the forward/center on the active roster.

For Washington, the reported structure indicates the Wizards were willing to package players to facilitate a Watson move, even if that means a player like Reese does not land in Denver in a traditional acquisition path. The offseason can produce these outcomes frequently, particularly when teams are trying to optimize roster flexibility and cap allocations while still making trades that match their on-court needs.

What to watch next is whether Reese signs with another NBA organization or lands on a new roster through training camp opportunities. For Denver, the immediate watch is how the Nuggets fill out their frontcourt depth beyond what the transaction delivered, since waivers can quickly lead to fresh competition for minutes and roster spots.

More broadly, the sequence is a reminder of how NBA offseason transactions can look different once the paperwork is fully processed. Even deals that are reported as “done” may produce additional administrative steps, such as waivers, as teams finalize the roster they intend to carry into the regular season.