Denver Paid for One Five-Man Group. Next Summer's Options Decide the Rest
Denver's money sits in one connected starting group above the first apron, so its real flexibility depends on three player options and one big expiring deal.
The Nuggets carry $217.8M against a $165.0M cap, a $200.4M tax line, a $209.0M first apron and a $221.7M second apron. Their first-round picks from 2028 through 2030 are protected to Oklahoma City, where the season opens tonight.
Where is the money?
Five contracts carry this payroll: Nikola Jokic at $59.0M, Jamal Murray at $50.1M, Aaron Gordon at $33.7M, Cameron Johnson at $23.1M and Christian Braun at $21.6M. Those five also form a group that was +13.5 last season. Denver did not spread its money around. It bought one connected unit and kept it together. Under the first apron that would be a preference. At $217.8M it is a commitment, and it limits how Denver can address a defense that ranked 21st.
How cheap is the depth?
Behind that group, salaries drop fast. Zeke Nnaji makes $7.5M, Spencer Jones $6.0M, Julian Strawther $4.8M, DaRon Holmes $3.4M, and DeMar DeRozan, Marvin Bagley III and Tyus Jones $2.4M each. That is where Denver gets value: DeRozan averaged 18.4 points last season, and Spencer Jones played 64 games and made 39.6 percent of his threes. Strawther's money brings nothing back for now. He is listed out with a projected return of November 29.
What comes off next summer?
Johnson's $23.1M comes off the 2027-28 books, along with the deals of Strawther, DeRozan, Bagley, Tyus Jones and Trevon Brazile. Murray rises to $53.8M and Braun to $23.3M. Three of the deals that stay are player options: Jokic at $62.8M, Gordon at $36.4M and Nnaji at $7.5M. That makes Jokic's stated plan to extend the most important fact on Denver's cap this year. Until terms are reported, the 2027-28 plan depends on decisions the players control.
Can picks fill the gap?
Not easily. The 2027 first is protected, the 2027 second is owed to Utah, and the firsts from 2028, 2029 and 2030 are protected to Oklahoma City. Seconds go to Washington and Charlotte with protections or conditions, and the 2030 second is a swap. Nugg Love reported that Denver's interest in Kevin Porter Jr. points to concerns at point guard, but any move like that has to fit under a payroll already above the first apron. With this little draft capital, Denver gets better by keeping its groups together and giving minutes to cheap players who already move the ball with Jokic. Here continuity isn't sentiment. It is the main thing Denver can still spend.
Are the Nuggets over the luxury tax in 2026-27?
Yes. Denver's $217.8M payroll is above the $200.4M tax line and the $209.0M first apron, but below the $221.7M second apron.
Does Nikola Jokic have a player option?
Yes. His 2027-28 salary of $62.8M is a player option. He said September 28 that he plans to sign an extension, and no terms or timeline have been reported.
