Nuggets Offseason Primer: Free Agents, Draft Capital, Salary Cap Space, Trades

The Nuggets have eight total players who could be hitting the market this offseason, but only three of them are unrestricted free agents who control their own destiny.

Unrestricted free agents:

• Tim Hardaway Jr.
• Bruce Brown
• Tyus Jones

Restricted free agents:

• Peyton Watson
• Spencer Jones
• Curtis Jones
• David Roddy

Team option:

• Jalen Pickett ($2.4M)

While the Nuggets' full starting five is still under contract for next season, their bench unit could be thrown in a blender. Since the Nuggets are so financially restricted this offseason, it will be harder for them to retain Sixth Man of the Year finalist Hardaway Jr., but we could certainly see guys like Brown, Tyus Jones, and Spencer Jones return.

The biggest question on the list, though, is Watson. He is expected to get offers in the $20 million per year range in free agency, and while the Nuggets have the ability to match any offer he receives, they might stay away if other teams are willing to overspend on the promising 23-year-old wing.

Draft capital

The Nuggets have not used their own first-round pick to add a rookie since they drafted Christian Braun 21st overall in 2022. This year, they own their first-round pick, which is slotted at 26th overall. However, their draft capital is still very scarce. Here is a look at their future draft capital through 2032:

2026:

• Own first-round pick (26th overall)

2027:

• None

2028:

• Own first-round pick

2029:

• None

2030:

• Own first-round pick

2031:

• Own first-round pick

2032:

• Own second-round pick

If it weren't for the Stepien Rule that restricts teams from trading first-round picks in consecutive drafts, who knows what Denver's draft capital would look like?

There is, however, a notable protection. The Nuggets sent their 2027 first-rounder to the Oklahoma City Thunder in a 2022 trade. This pick is top-five protected from 2027 to 2029, although it seems unlikely to land back in Denver's hands. The Nuggets have no more first-rounders available to trade this offseason.

Salary cap space

Unfortunately for the Nuggets, it is no secret how poor their financial situation is this offseason. They are projected to be well over the luxury tax line and both aprons, with the majority of their salary going toward the starting five. Here is a look at each player's salary for the 2026-27 season who is currently under contract:

• Nikola Jokic — $59.03 million
• Jamal Murray — $50.11 million
• Aaron Gordon — $31.98 million
• Cam Johnson — $23.06 million
• Christian Braun — $21.55 million
• Jonas Valanciunas — $10 million
• Zeke Nnaji — $7.47 million
• Julian Strawther — $4.83 million
• DaRon Holmes II — $3.37 million

The Nuggets' starting five is owed a total of $185.73 million next season, headlined by their All-Star duo of Jokic and Murray, combining for about $109 million.

It is worth noting that Valanciunas' 2026-27 salary is partially guaranteed for just $2 million, giving them an easy route to save some money as they look to duck the second apron. Also, if they keep their first-round pick, they will owe the rookie about $2.4 million next season.

Extensions

One of the most significant decisions of Denver's 2026 offseason will be Jokic's contract extension. The three-time MVP is eligible for a four-year contract extension worth nearly $280 million. After declining to sign an extension last summer, all eyes will be on Jokic to potentially secure his future with the Nuggets through the 2030-31 season.

Other players eligible for contract extensions this summer include Cam Johnson, Jonas Valanciunas, Julian Strawther, and Jalen Pickett.

Trades

The Nuggets have not gotten into the trade market just yet this offseason, although once the NBA playoffs conclude and the draft and free agency approach, we can expect talks to heat up.