The Denver Nuggets and Cleveland Cavaliers feel like mirror images of each other in opposite conferences entering the 2026-27 season. Both teams are really good, but feel a step below their biggest rivals. Both have huge payrolls built around max superstars without much flexibility to tinker with the roster formula. Both have had frustrating offseasons before they came together to swap Peyton Watson as part of a massive five-team trade this week.
The Cavs will hope Watson can be the fifth starter they’ve long been missing while adding wing defense, transition scoring, and spot-up shooting. The Nuggets feel like they’re taking a step back this season with the deal, but they’re adding a valuable long-term asset by landing Cleveland’s unprotected 2031 first-rounder. The Clippers got involved to add Max Strus, while the Hornets picked up Dennis Schroder as part of the deal.
This trade shakes up the rotation for contenders in both conferences, so I think it’s worth updating our league power rankings now that it’s complete. I dropped my original way-too-early power rankings for next season on July 10, then updated them after LeBron James signed with the Philadelphia 76ers. Here’s how I see the league hierarchy entering the season after the Watson deal, with more analysis after the table.
‘Who’s No. 4?’ remains the most interesting question in the NBA
Any dummy can see that the Thunder, Spurs, and Knicks are the best teams in the NBA in some order entering the season. Ask 10 people who should be No. 4 in the power rankings, and you might get seven different answers.
I’m favoring the Timberwolves here because of their playoff upside. I don’t expect them to be the NBA’s fourth-best regular season team this season, but I like their ability to advance in the postseason more than some of the other contenders for that spot. I’m always been a bit LaMelo Ball guy, and he’s quietly turned into a borderline top-20 player when he’s healthy. Obviously LaMelo’s health is a big if, but you can same thing for Aaron Gordon in Denver and Joel Embiid in Philadelphia. Ball is at least the youngest of that trio.
I’m intrigued by the Timberwolves apparent plan to try to beat the Spurs and/or Thunder with pull-up threes. Those are very tough shots to defend, and if they fall in a short series, it gives Minnesota some upset potential against the conference’s elite. I’m a bit worried about the Wolves’ depth, I don’t think the Ayo Dosunmu contract will age well, and there should be some concern about age-related decline from Rudy Gobert. The Wolves’ grip on the No. 4 spot is far from firm, but I still like their upside with Anthony Edwards and Ball leading the offense, and Gobert and Jaden McDaniels leading the defense. Let me know who you would have at No. 4 in the comments below.
I’m still not buying the Cavs even with Peyton Watson
I detailed my thoughts on the Watson deal for Cleveland in my trade grades, which is linked in the first paragraph of this story. In short, Watson feels like a better fit for the Cavs on paper than he will be in reality. I’m not convinced he’s a more impactful player than Max Strus, and I’m worried about Cleveland’s depth after giving up Strus and Dennis Schroder to land him.
The Cavs have been an Eastern Conference contender since trading for Donovan Mitchell. They should be trending up after a conference finals berth following two second-round exits, but to me it feels like other teams in the conference are passing them. James Harden — now inked to a new three-year, $97 million deal — should start to decline at age-37. I’ve long been a big Evan Mobley fan, but I’m a bit discouraged with his lack of offensive development the last two seasons. Watson could potentially be a really good fit for Cleveland, but they need him to buy into being an impactful defender and spot-up shooter when his defense has always been a little overrated, and he prefers to shoot from mid-range rather than maximizing corner three attempts (where he knocked down 52% last year).
I would take the Raptors with Kawhi over the Cavs, and I think I would take the Pistons over them too. Detroit addressed its lack of shooting over the offseason, and their core is still getting better while I’m not sure that’s the case for Cleveland. Ultimately, the Cavs move up one spot in my rankings from last time. I decided to flip flop on Toronto and Detroit because while I feel like the Pistons are a better regular season team, the Raptors have more playoff upside to me with Leonard in tow.
Obviously, I could be wrong about Cleveland. All these teams are pretty close. The Cavs are good every year, and in some sense I feel like that’s the best way to eventually breakthrough: just keep fielding competitive teams until you get the luck you need for things to break your way. For now, I like the Cavs more as a regular season team than a playoff team, and that’s why they can’t crack the top-10 of my power rankings.
Are the Nuggets done competing for championships around Nikola Jokic?
It feels that way right now. Denver was my championship pick at this time last year. They ended up getting eliminated in the first-round of the playoffs to their biggest rival of the Jokic era, the Timberwolves.
The Nuggets have done a lot wrong since winning the 2023 championship. Zeke Nnaji and Christian Braun are among the worst contracts in the league. Aaron Gordon is constantly hurt, and that might be Denver’s biggest issue. Jamal Murray is very good, but he feels a bit overpaid at $50 million this year, equating to the league’s 17th highest paid player. They traded an unprotected 2032 first-round and Michael Porter Jr. for Cameron Johnson only to watch Porter have a significantly better season in Brooklyn than Johnson had in Denver. They just lost Peyton Watson for nothing after originally giving up their 2027 first-round pick to get him. It’s been bleak.
I still think the Nuggets have a chance to build a contender around Jokic again even if this year could be another small step back. Of course, they have to extend Jokic for that to be possible, and right now he’s slated to be a free agent next summer despite continually saying he’ll spend his whole career in Denver. I’d rather have the Cavs’ unprotected 2031 pick than Watson in a vacuum. That can be a valuable trade chip in the future. I’m imagining a world where Braun bounces back this season, and Denver trades him plus the pick for a real contributor moving forward. I also wouldn’t be shocked if Denver eventually does its version of the Jaylen Brown trade with Murray.
Teams aren’t meant to stay together forever under this CBA. Front offices almost have to pitch a perfect game to keep the championship window extended, and Denver didn’t even come close to that. Still, all things are possible through Jokic, and now they have an actually valuable trade chip with the Cavs pick to flip for someone better than Watson. I don’t love where Denver is at this year, especially if Gordon’s body keeps breaking down. I’m just not ready to write their obituary for the Jokic era just yet.
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