What happened: Current luxury taxes climb from $36 million to $68 million after the offer-sheet match. Denver could shed salary through in-season trades.
Why it matters: Second-apron status narrows the club's roster-building flexibility for 2026-27. Denver's qualifying offer to Watson preserves its right to match an outside deal.
By the numbers: The $32 million increase represents an 88.9% jump in Denver's current luxury-tax bill.
What to watch: Watch whether Denver reaches a deal with Watson or pursues a salary-reducing trade before or during the season.