Above the First Apron, Not Yet the Second
Denver's $221.1 million payroll clears the first tax apron and closes in on the second, which is the number actually shaping the roster's edges.
The Nuggets carry a payroll of $221.1 million against a $200.4 million luxury tax line and a $209.0 million first apron, with the $221.7 million second apron the last real barrier above them. Boopie Miller's Exhibit 10 agreement on September 22 ended with his departure from the roster on September 24, one more move at the edges while the core numbers stay fixed.
Where the number sits
Denver's payroll is $221.1 million, above the $200.4 million luxury tax line and above the $209.0 million first apron, but still below the $221.7 million second apron. The salary cap itself is $165.0 million, a reminder of how far above the cap line this roster now runs — apron to apron, not cap to cap.
The five contracts driving it
Nikola Jokic's $59.0 million is the largest number on the books, followed by Jamal Murray at $50.1 million, Aaron Gordon at $33.7 million, Cameron Johnson at $23.1 million and Christian Braun at $21.6 million. Jokic, Gordon and Zeke Nnaji all hold player options for 2027-28 — $62.8 million, $36.4 million and $7.5 million respectively — meaning Denver's ceiling next summer depends partly on choices those three make, not on moves Denver controls.
What's already been spent to keep it together
The cost shows up in the draft book, too. Denver's 2027 second-round pick is owed to Utah, its 2028 first and 2029 first are both protected to Oklahoma City, its 2028 second is protected to Washington, its 2029 second is conditional to Charlotte, and its 2030 first is protected to Oklahoma City as well. Every first-round pick through 2030 carries someone else's name on it.
The moves at the edges
None of that changes at the margins, where Denver still works the roster. Boopie Miller agreed to an Exhibit 10 deal on September 22 and had left the Nuggets by September 24 — a transaction well below the line the payroll number describes, and no threat to where Denver sits against the second apron.
Are the Nuggets over the luxury tax?
Yes. Denver's payroll of $221.1 million is above both the $200.4 million luxury tax line and the $209.0 million first apron, though still below the $221.7 million second apron.
How many of the Nuggets' first-round picks are unencumbered?
None through 2030. The 2027 first is protected, and the 2028, 2029 and 2030 firsts are all protected obligations owed to Oklahoma City.
