Denver Paid for Continuity Already. Jokic's Extension Just Prices It In
A payroll already above the first apron and three first-round picks mortgaged to Oklahoma City are the price of keeping this core whole, and Jokic just said he's ready to pay more of it.
Nikola Jokic told reporter Bennett Durando on September 28 that he plans to sign an extension, with no terms reported yet. Denver's books already sit at $221.1 million, above the $209.0 million first apron and closing in on the $221.7 million second, before that new deal is even written.
The price tag on the extension
Jokic's number alone is $59.0 million this season, with Murray at $50.1 million, Gordon at $33.7 million, Johnson at $23.1 million and Braun at $21.6 million. Together those five push the roster to $221.1 million, above the $209.0 million first apron and within $0.6 million of the $221.7 million second. Whatever Jokic signs next sits on top of all of it, not instead of it.
What the picks already cost
The bill isn't only salary. Denver's protected first-round picks in 2028, 2029 and 2030 all belong to Oklahoma City, along with a 2030 second-round swap, a 2027 second owed to Utah, a 2028 second owed to Washington and a conditional 2029 second owed to Charlotte. Only the 2027 first stays home, and it's protected too. There is no pick left to spend instead of an extension — that currency is already gone.
What continuity bought instead
What the picks bought was the 2023 championship and a roster that still starts Jokic, Murray, Gordon, Johnson and DeRozan. Last season that group finished 54-28, with the league's best offense, a defense ranked 21st and a net rating of 5.2, seventh overall. On October 6 that same five closed a 117-106 preseason win over the Jazz. The core that won the title is still the one Adelman trusts to finish games.
The answer
Denver isn't weighing whether to keep this core together; Jokic already answered that on September 28. The real question was whether the books could survive it, and the picks say the franchise decided that years ago — there's no scenario left where waiting makes the extension cheaper. The cost is the apron tax and a thin margin for depth, not the roster itself. Denver chose continuity before this question was even asked; the extension just writes down what already happened.
Why do the Nuggets owe so many draft picks to Oklahoma City?
Denver's protected first-round picks in 2028, 2029 and 2030 all belong to the Thunder, along with a 2030 second-round swap, leaving the franchise almost no draft capital for the rest of the decade.
Has Nikola Jokic committed to signing a contract extension with Denver?
Jokic told reporter Bennett Durando on September 28 that he plans to sign next year, though no contract terms have been reported.
