Denver's Payroll Is One Lineup, and the Aprons Say Keep It Together
Denver has spent its money on five players who already fit, and with the cap sheet and draft picks this tight, keeping that group healthy is the only flexibility it has.
The Nuggets carry a $217.8M payroll, above the first apron and below the second, and their five biggest contracts belong to the five players who started together last season. With three future firsts protected to Oklahoma City, Denver's best route to improvement runs through the training room, not the trade market.
How close to the ceiling?
Denver's payroll is $217.8M. The salary cap is $165.0M, the tax line is $200.4M, the first apron is $209.0M and the second apron is $221.7M. That puts the Nuggets past every threshold except the last one. Teams above the first apron have fewer ways to add players, and Denver is close enough to the second apron that any new salary has to be weighed against it.
The money is already on the floor
The five largest deals are Jokic at $59.0M, Murray at $50.1M, Aaron Gordon at $33.7M, Johnson at $23.1M and Braun at $21.6M. Those are the same five players who outscored opponents by 13.5 points per 100 possessions together in 2025-26. Denver didn't spread its payroll across a deep roster. It bought one lineup and paid to keep it intact. Johnson has been ruled out with a right ankle injury, with an estimated return of October 30 in Phoenix. Until he is back, the most expensive part of the payroll isn't on the court.
What 2027-28 looks like
Next season's sheet keeps the core in place. Murray is due $53.8M and Braun $23.3M. Jokic has a $62.8M player option and Gordon a $36.4M player option. Johnson's $23.1M does not appear on the 2027-28 sheet, and neither do DeMar DeRozan, Marvin Bagley III, Tyus Jones, Trevon Brazile or Julian Strawther. Zeke Nnaji holds a $7.5M player option. Jokic said on September 28 that he plans to sign an extension, and no terms or timeline have been reported. Those two options decide how much changes.
Is there a trade to make?
The picks limit what Denver can offer. The 2027 first is protected. The 2028, 2029 and 2030 firsts are all protected to Oklahoma City. The 2027 second is owed to Utah, the 2028 second is protected to Washington, the 2029 second is conditional to Charlotte and the 2030 second is a swap. The mid-sized contracts are Nnaji at $7.5M, Spencer Jones at $6.0M and Strawther at $4.8M, which isn't much to match salary with. A report on October 24 said the Bucks turned down a potential Kevin Porter Jr. trade with Denver, and no other deal has been reported. With so little to trade, Denver's real flexibility is getting all five starters on the floor together.
Are the Denver Nuggets over the luxury tax in 2026-27?
Yes. Their $217.8M payroll is above the $200.4M tax line and the $209.0M first apron, and below the $221.7M second apron.
When can Nikola Jokic become a free agent?
Jokic has a $62.8M player option for 2027-28. He said on September 28 that he plans to sign an extension, and no terms or timeline have been reported.
