Above the Apron, Denver Has Already Spent Its Flexibility
Denver carries $221.1 million in salary, past the first apron and within reach of the second, and the heaviest bill still hasn't been written: Jokic's next contract.
The roster's five biggest contracts, led by Jokic's $59.0 million and Murray's $50.1 million, already push Denver past the $209.0 million first apron and toward the $221.7 million second. Picks protected to Oklahoma City through 2030 mean there isn't much room left to fix a mistake if one shows up this season.
What the number actually is
Denver's payroll sits at $221.1 million, above the $209.0 million first apron and closing in on the $221.7 million second apron, with the luxury tax line at $200.4 million. The two largest deals, Nikola Jokic at $59.0 million and Jamal Murray at $50.1 million, are doing the heaviest lifting; Aaron Gordon's $33.7 million, Cameron Johnson's $23.1 million and Christian Braun's $21.6 million round out the five biggest commitments on the books.
Nothing comes off next season
Jokic can opt into $62.8 million for 2027-28 rather than test free agency, and Gordon holds a $36.4 million option of his own; Zeke Nnaji's $7.5 million option sits further down the sheet. Murray's number actually rises, to $53.8 million, and Braun's to $23.3 million. Every path to room next summer runs through a player option, which means the choice belongs to the players, not the front office.
The picks paying for this roster
Denver's 2028, 2029 and 2030 first-rounders are protected to Oklahoma City, with second-round picks owed to Utah, Washington and Charlotte and a swap attached to the 2030 second-rounder. Only the protected 2027 first-rounder remains Denver's own to use. The books and the draft board are squeezed at the same time.
The contract that isn't signed yet
Jokic told reporters on September 28 that he plans to sign an extension — "I'm going to sign next year" — with no terms or timeline reported since. Whatever that number turns out to be, it lands on a roster already above the first apron, with its two biggest earners holding options that lock the books in rather than open them.
Is Denver over the NBA luxury tax this season?
Yes. Denver's $221.1 million payroll is above both the $200.4 million luxury tax line and the $209.0 million first apron.
Why doesn't Denver control its own future draft picks?
Denver's 2028, 2029 and 2030 first-rounders are protected to Oklahoma City, and second-round picks are owed to Utah, Washington and Charlotte.
