This article contains spoilers for Hawkeye episode 4!

The mystery of Hawkeye's Rolex watch is building, with an intriguing clue in Hawkeye episode 4 that it may belong to a retired Avenger. Clint Barton has to go down as the most unfortunate Avenger of all; he keeps trying to retire but just winds up drawn back into the superhero vigilante lifestyle. In Hawkeye, he was only visiting New York for a Christmas break with his children when he learned someone else had apparently adopted his old Ronin identity, and he had to get back in action to sort the mess out.

But Hawkeye episode 4, "Partners, Am I Right?," saw matters escalate, with the Avengers' archer realizing the Ronin costume may not have been the only thing stolen from the ruins of Avengers Compound. He swiftly realized a mysterious Rolex watch had been taken as well, and apparently, it was an essential item because, according to Hawkeye, it belonged to a friend who had retired and could potentially blow their cover. It's reasonable to assume Echo - or, rather, her as-yet-unseen boss, the Kingpin - knows what this watch can do because this was the whole reason the Tracksuit Mafia raided a black market auction to acquire it.

Related: Marvel Knows It Messed Up Thanos In Infinity War (& Hawkeye Proves It)

Naturally, this raises a simple question: who does the watch belong to? Most viewers had assumed it belonged to Tony Stark; Robert Downey, Jr. collects watches in the real world, and Stark would certainly be the kind of guy to install sophisticated Stark technology in one of his watches, making it especially valuable. But that possibility seems remote after Hawkeye episode 4, making the watch even more mysterious.

The Watch In Hawkeye Can't Really Belong To Any Avengers

Tony Stark snaps his fingers in Avengers Endgame

The Rolex watch may have been found in the ruins of Avengers Compound, but it really doesn't seem as though it could have belonged to any Avenger. There's no reason Hawkeye and his wife Laura would know much about a Rolex watch formerly owned by Tony Stark, and Hawkeye's description of its owner - that they had retired, and their identity is attached to the watch, meaning it would blow their cover - wouldn't make any sense. None of the surviving Avengers have secret identities; even Spider-Man's secret identity was blown by Mysterio in Spider-Man: Far From Home, and there's no sensible way to connect Peter Parker to a vintage Rolex.

Truthfully, only one Avenger has actually retired: Steve Rogers, who traveled back in time to live out his "Happily Ever After" with his beloved Peggy Carter. The temporal mechanics surrounding Rogers' retirement are still a mystery. It's unclear whether his traveling back in time created a nexus event and a branching timeline or whether he's been living in the background of the MCU all this time. If the latter is true, Steve Rogers could well have crossed paths with Hawkeye at some point, and the watch could be a pointer to his secret identity. He could have picked up the Rolex watch when he was back in the past.

However, the core problem with this theory is that there's no reason Kingpin should want the watch. Hawkeye has set Kingpin up as Echo's uncle, the head of organized crime in New York, and he wouldn't be interested in Captain America's secret identity. Rather, it's logical to assume the Rolex watch belonged to somebody who became a particularly painful thorn in Kingpin's side, someone he'll want revenge against if he ever identifies its owner.

Related: Kingpin’s MCU Return Can Deliver On Marvel’s Best Unresolved Cliffhanger

Theory 1: The Avengers Watch Belongs To Laura Barton (Who Is Mockingbird)

Linda Cardellini as Laura Barton with Mockingbird and Avengers Watch in Hawkeye

Alternatively, it could be that the connection is a lot more personal - that the Avengers watch belongs to Hawkeye's wife Laura, explaining why he owned it. Little is known of Laura's backstory right now, but she's clearly aware of the Rolex and comfortable with espionage, suggesting she's a former SHIELD operative - or perhaps even a former vigilante herself. She could have crossed Kingpin's path before retiring to bring up her children, and the watch could somehow be a link that would connect her to an old case where she'd caused Kingpin some trouble in the past. That would suggest that Linda Cardinelli's Hawkeye character is, in fact, the MCU's version of Mockingbird and was a superhero in her own right. In the comics, That would also all make Hawkeye's stakes a lot more personal - but again, it seems unlikely given she didn't seem worried on a personal level when she discussed the Rolex. Whatever the answer, it's going to be exciting to learn the truth.

Theory 2: Nick Fury Is The Owner Of Hawkeye's Avengers Watch

Nick Fury behind his desk in Captain America Winter Soldier.

One possibility is Nick Fury. Hawkeye and Nick Fury were clearly close friends, with Fury jealously guarding the secret of Clint Barton's family. Nobody even learned about their existence when Black Widow published all SHIELD's secrets on the internet in Captain America: The Winter Soldier, suggesting Fury had erased all SHIELD records. Fury went off the grid in the aftermath of The Winter Soldier, operating from the shadows, but he still found his way to Hawkeye's family farm in Avengers: Age of Ultron - again pointing to the closeness between the two. Thus it's conceivable Hawkeye was given a wristwatch that pointed to one of Fury's secret identities.

The MCU's version of Kingpin has clearly been around for some time, with dialogue in Hawkeye episode 1 hinting he was already established as New York's crime boss before the Blip. It's possible SHIELD had been attempting to bring him down, an effort that was thwarted when Captain America chose to bring SHIELD down instead; Fury could have continued his mission to undermine Kingpin after SHIELD collapsed, with his campaign ending when he was snapped out of existence by Thanos. If that's the case, Nick Fury's priorities have clearly changed in the MCU's Phase 4 because Nick Fury has headed into space for Secret Invasion. Kingpin would be a distraction Fury doesn't need.

Even this theory doesn't quite work, though. There's no actual evidence Nick Fury ever crossed the path of New York's Kingpin of crime, and given he's off-world, he wouldn't face any immediate threats if Kingpin figured out who he really was anyway. It's vaguely possible Fury's mission could be compromised if anyone discovered he was still active, but again - he's in space, far away from Earth, meaning he'd have plenty of time to figure out the angles before returning to the planet.

Related: Why Hawkeye's Secret Villain Wanted The Avengers Watch

Who Else The Watch Could Belong To If It's Not Nick Fury Or Laura Barton

Charlie Cox as Daredevil in a promotional image for season 2

The Nick Fury theory is an interesting one, but it's not especially persuasive. Another possibility is that this could be a setup for the MCU's Daredevil. Marvel has all-but-confirmed Charlie Cox is reprising his role as Daredevil in the MCU, albeit likely a rebooted version of the Man Without Fear rather than a straight continuation of the role he played in the Marvel Netflix show. Daredevil is traditionally one of Kingpin's greatest enemies, and the MCU's Daredevil could have retired after things got too hot in New York. Perhaps Hawkeye crossed paths with him at some time during his rampage through the city as Ronin, learning the former vigilante's secret identity and promising to keep it, with the watch somehow signifying it. This would at least fit with Kingpin's interest in the watch because he wants revenge on Daredevil. There would be a delicious irony here, given Hawkeye episode 4 suggested Kingpin would be less than happy with Echo's obsession over Ronin. Meanwhile, the timing of this twist - given long-standing rumors Cox will appear in Spider-Man: No Way Home - would be a smart bit of synergy on Marvel's part.

More: Hawkeye's Giant Arrow Creates A Huge Infinity Saga Plot Hole

Hawkeye releases new episodes Wednesdays on Disney+.

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