Watson said there is competition for the role of captain though he did not take names, who other than him are in the race to replace Warne.
"Yes I would love to lead the side in Shane Warne''s absence but there are few others in contention," Watson said after his side was outclassed by nine wickets in the match against Royal Challengers Bangalore.
Rajasthan have very little hopes of making the play-offs and Watson said the team would do everything to win the remaining two matches to make it memorable ending for Warne.
"We are out. We will play the remaining matches for pride and will try to give good performance to give a perfect send off to Warne," he said.
Watson had done extremely well in the inaugural edition of the league and was adjudged man-of-the-tournament in 2008 but has failed to repeat his performance in the following editions.
In the ongoing tournament also he has scored just 221 runs in nine innings without a half-century. In the bowling also he has also been unimpressive as he has taken three wickets.
Asked abut his form, he said,"I can''t say. Twenty20 can be a fickle game. I had prepared in same manner and was excited for IPL but things did not come off."
Watson also ruled out major overhauling in the side in wake of another dismal show, saying the team was playing as a unit.
Young Bangalore paceman Sreenath Aravind, who helped his side restrict Rajasthan to a modest total by scalping three key wickets, credited his performance to the guidance of India''s pace spearhead Zaheer Khan.
"He is a World Cup winner and helped me a lot. He taught me not to bowl to batsman''s strength and how to bowl in death overs by reading the mind set of batsmen. He and Venktesh Prasad have both been great help for youngsters," Aravind said.
Aravind feared that skipper Daniel Vettori, who missed today''s match, may miss the next match as well.
"Yes he was carrying a niggle in his knee which was aggravated a little and that is why he did not take field today. He is not sure to play even in the next match," he added.