Two Player Options Will Decide Denver's Books Next Summer
This season's payroll number isn't the real story; what Jokic and Gordon do with their 2027-28 options is.
Denver opens the season at $221.1 million, already above the first apron and the luxury tax line it cleared years ago. The tighter squeeze comes next summer, when two player options and an empty draft cupboard narrow the room further.
Where the Money Sits Right Now
Denver's payroll is $221.1 million, above the $200.4 million luxury tax line and the $209.0 million first apron, and within range of the $221.7 million second apron. Five contracts make up most of it: Nikola Jokic at $59.0 million, 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. The salary cap itself is $165.0 million, a number this roster cleared long ago.
Two Options Change Everything Next Summer
The 2027-28 cap sheet shows where the next pressure point sits. Jokic carries a $62.8 million player option, Gordon a $36.4 million player option, and Murray is set for $53.8 million guaranteed. Braun's number rises to $23.3 million the same year. Those four figures will decide whether Denver's apron problem eases or hardens, and neither Jokic's option nor Gordon's has been exercised yet.
The Draft Cupboard Is Already Spoken For
Denver's 2027 first-round pick stays home, protected, but the next three first-rounders — 2028, 2029, and 2030 — are all owed to Oklahoma City. The second-round picks are scattered just as thin: 2027 to Utah, 2028 to Washington, 2029 conditional to Charlotte, and a 2030 swap. For four more years, there is almost nothing left in the draft to attach to a trade.
What Jokic's Next Deal Has to Fit Into
Jokic told Bennett Durando, in a report dated September 28, "I'm going to sign next year," pointing toward a contract extension with no terms yet reported. Whatever that number turns out to be, it lands on a payroll already at $221.1 million, next to a second apron of $221.7 million. There is no room in this structure to absorb a raise without subtracting real money somewhere else.
How far over the cap are the Nuggets?
Denver's payroll is $221.1 million against a $165.0 million salary cap, above the $200.4 million luxury tax line and the $209.0 million first apron, and close to the $221.7 million second apron.
What happens to Jokic's and Gordon's contracts next summer?
Both hold player options for 2027-28 — Jokic at $62.8 million and Gordon at $36.4 million — and neither has been exercised yet.
