The Saints were desperate to recruit Brown, but an obstinate Eagles coaching panel refused, despite conceding they couldn't guarantee him a game next year.
In the end, a last-gasp deal looked likely to be struck until West Coast's nominal replacement - Essendon's Cale Hooker - decided against leaving Windy Hill.
Brown will be out of contract at the end of next year, and Watters revealed the Saints would have significant salary cap space.
Both Jason Gram - now departed - and veteran forward Justin Koschitzke are on hefty deals that expire after next season, with Brendon Goddard rejecting a three-year contract to make him St Kilda's highest earner. It means for the first time in his stint at St Kilda, Watters can afford a big fish.
"There is still work to do (on our list) but we feel better placed than 12 months ago, and at the end of next year we will be in a pretty aggressive position to potentially make further changes," he told the Herald Sun.
"The reality is Mitch is a contracted player, so we respect the stance West Coast took. So we have no bitterness towards them. We had a player desperate to come to our club and saw him as a good prospect when he was ultimately playing at a club he didn't really want to be at, so that's part of the business.
"There is no doubt in 12 months' time we will be looking to add to our key defensive posts."
With free agency, trade and draft periods now over, the AFL will review its processes, but AFL chief Andrew Demetriou has already thrown his weight behind the new set-up.
Hawthorn was furious that it received no real compensation for Clinton Young, and could put forward the potential remedy that clubs get compensation for restricted free agents but not unrestricted free agents.
The free agency period was also seen to drag on too long, but overall almost every player bar Brown was able to get to their destination of choice.
www.heraldsun.com.au/afl/st-kilda-prepar...frf9io-1226536440352 
