Wizards get: Shabazz Napier
Nuggets get: Jordan McRae
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Denver Nuggets: B+

Given the Nuggets are deep at point guard with Jamal Murray and Monte Morris (and have gotten solid contributions lately from third point guard PJ Dozier, who's on a two-way contract), I speculated earlier this week that they might reroute Napier to another team after landing him in the four-team deal that netted Denver a first-round pick. That's exactly what happened, with the Nuggets replenishing their wing depth by adding McRae.
Having long operated on the NBA's fringes, McRae has established himself as a rotation-caliber player this season, averaging a career-high 12.8 points per game off the bench for the Wizards. The ability to get points in a hurry has always been there, but McRae has added more reliable 3-point shooting, hitting 38% of his 106 attempts and taking a career-high 5.8 per 36 minutes.
Given how much time Gary Harris has missed due to injury, as well as the risk of Michael Porter Jr.'s back problems recurring, Denver needed more insurance on the perimeter and McRae provides it. He will have to be comfortable with the possibility of being out of the Nuggets' rotation entirely when they're at full strength.
Washington Wizards: B+

For the Wizards, this trade made sense in the context of their subsequent swap sending out starting point guard Isaiah Thomas and bringing back shooting guard Jerome Robinson. That gave Washington a crowd on the wing and a need at the point, which Napier is capable of filling. He started 22 games this season in Minnesota and probably will prove to be an upgrade over Thomas as part of a rotation with veteran Ish Smith.