Hoops Rumors is checking in on the 2024 offseason for all 30 NBA teams, recapping the summer’s free agent signings, trades, draft picks, departures, and more. We’ll take a look at each team’s offseason moves and consider what might still be coming before the regular season begins. Today, we’re focusing on the Denver Nuggets.
Free agent signings
Dario Saric: Two years, $10,594,400. Second-year player option. Signed using taxpayer mid-level exception.- Russell Westbrook: Two years, minimum salary ($6,772,731). Second-year player option. Signed using minimum salary exception.
- Vlatko Cancar: One year, minimum salary. Re-signed using minimum salary exception.
- DeAndre Jordan: One year, minimum salary. Re-signed using minimum salary exception.
- Gabe McGlothan: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
- Jaylin Williams: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
- Jahmir Young: One year, minimum salary. Non-guaranteed (Exhibit 10). Signed using minimum salary exception.
Trades
- Acquired the draft rights to DaRon Holmes (No. 22 pick) from the Suns in exchange for the draft rights to Ryan Dunn (No. 28 pick), the No. 56 pick in the 2024 draft, the Nuggets’ 2026 second-round pick, and the Nuggets’ 2031 second-round pick.
- Acquired cash from the Hornets in a six-team trade in exchange for Reggie Jackson, the Nuggets’ 2025 second-round pick, the Nuggets’ 2029 second-round pick, and the Nuggets’ 2030 second-round pick.
Draft picks
- 1-22: DaRon Holmes
- Signed to rookie scale contract (four years, $15,203,657).
Two-way signings
Departed/unsigned free agents
- Kentavious Caldwell-Pope (Magic)
- Collin Gillespie (Suns)
- Justin Holiday (unsigned)
- Jay Huff (Grizzlies)
- Braxton Key (unsigned)
Salary cap situation
- Operating over the cap ($140.6MM), over the luxury tax line ($170.8MM), and between the first tax apron ($178.1MM) and second tax apron ($188.9MM).
- Carrying approximately $182.6MM in salary.
- Hard-capped at $188,931,000.
- No form of mid-level or bi-annual exception available.
- One traded player exception available (worth $5,250,000).
The offseason so far
For a second consecutive offseason since winning a championship in June 2023, the Nuggets’ rotation took a major hit. After losing top reserves Bruce Brown and Jeff Green in free agency a year ago, Denver saw starting shooting guard Kentavious Caldwell-Pope depart for Orlando this time around.
While it would be easy to cite the new tax apron rules as the reason why they couldn’t retain Caldwell-Pope, the Nuggets had the ability to outbid the Magic for him without derailing the rest of their summer plans if they’d been willing to commit to a significant luxury tax bill. This ownership group has typically been averse to operating too deep into the tax, however, even with three-time MVP Nikola Jokic in his prime and championship contention within reach.
Losing Caldwell-Pope allowed the Nuggets to free up their taxpayer mid-level exception, which they used to sign stretch forward/center Dario Saric. Saric is a solid role player who should play a role off the bench, but he won’t have the same kind of two-way impact that Caldwell-Pope has in recent years.
The Nuggets’ other major offseason addition was Russell Westbrook, who agreed to a two-year, minimum-salary deal (including a second-year player option) after being bought out by Utah. It remains to be seen how Westbrook will fit in Denver, but landing a former MVP and talented play-maker capable of breaking down defenses looks like a win for a team limited to minimum-salary offers.
Still, it’s fair to question the Nuggets’ offseason as a whole. Caldwell-Pope’s exit was a major blow, and the team’s work on the trade market raised eyebrows too — Denver surrendered a whopping six second-round picks in order to shed Reggie Jackson‘s expiring $5.25MM contract and to move up six spots in the first round to draft DaRon Holmes, who suffered a season-ending Achilles tear during his Summer League debut.
Even if Holmes had remained healthy, it’s unclear whether he would’ve been ready to play a major role as a rookie, so giving up all that future draft capital to select him and to move off a relatively small contract may not have been the best use of the Nuggets’ limited resources.
Denver also re-signed veteran center DeAndre Jordan, who played a limited role in 36 appearances last season, and forward Vlatko Cancar, who is coming off a torn ACL and didn’t play well for Slovenia in Olympic qualifiers this summer (he made just 3-of-19 shot attempts and was a -49 in three games). It’s possible the Nuggets will be able to get productive minutes from one or both big men, but expectations should be modest.
Up next
The Nuggets have 15 players on standard guaranteed contracts, three on two-way deals, and three more on Exhibit 10 pacts, so their roster looks set for the regular season.
The primary outstanding question in Denver this offseason is whether a lucrative new long-term contract for Jamal Murray will be finalized in the near future. A report in June indicated that Murray and the Nuggets were expected to come to terms on a four-year, maximum-salary extension that would begin in 2025/26 and would be worth nearly $208MM, based on the NBA’s latest cap projections.
Subsequent reporting indicating that the two sides would wait until after the Olympics to complete a new deal. Well, the Olympics are over, so are the Nuggets still planning to move forward on that maximum-salary extension? Presumably, we’ll get our answer soon.
That four-year extension is a worthwhile investment if Denver is getting the peak version of Murray, but he has battled injuries in recent years and certainly wasn’t at his best in the NBA playoffs (.402 FG%, .315 3PT%) or at the Olympics (.290 FG%, .143 3PT%).
I wouldn’t expect the Nuggets to get cold feet and back out of the deal completely, but with no formal agreement in place yet, maybe there’s some wiggle room for the team to protect itself a little with some injury language or a partially guaranteed final year. A fully guaranteed contract worth an average of $52MM annually for a player who has infamously never made an All-Star team would be risky and would create additional financial constraints for an organization already being affected by its high payroll.
I think that Denver sort of needs to give Murray that max salary extension when the alternative is looking bleak. When Murray is playing at a high level, the Nuggets are a legit top 2-3 championship contender. The Joker is the best player in the world right now but even he can’t carry the team to a Chip on his own, he needs a partner in crime and Murray is that guy. Gotta pay him.
Big unknown about severity of Murray’s injuries. He was clearly hobbled in the Olympics.
Honestly, I think part of his issues might just be from having tired legs on top of any other ailments. He had that long stretch where he didn’t play much basketball due to injuries then he came back to a season that ended with a long playoff run through the Finals. Maybe didn’t have enough time to rest then jumped right into 2023-24 and just wasn’t the same player come playoffs time and Olympics.
Its a tough decision for Denver, there aren’t many players that can distribute the ball and hit big time shots like he does that are available out there. If they let him leave, then they may not be able to replace him.
I’d pay him then set out to get his health right even if it means missing the start of the regular season.
Games played in the last 5 years:
58
48
0
65
59
You can look at the data for all players in the NBA with similar availability for 5 years. I did, and found no cases of players becoming MORE available in the following 5 years. Severe injuries like ACL tend to beget further injuries, as Murray’s last two years have shown. Historical data suggests he’s available, at best, 60 games per year for the next 5 The fact that he’s been injured during the playoffs and the Olympics doesn’t lend to optimism.
There are less than 10 players in the league who warrant a max with this availability profile, and Murray is not one of them. Nuggets are not a wealthy franchise, so I expect they will try to extend existing, rather than offer a long-term, deal.
Shaun Livingston overcame early career injuries including a severe knee injury to have later career health and success.
You missed the plot. We’re talking about whether a superstar making $40M that has averaged 55 games per year for the past 5 years can play more games than that in the future, thus deserving $55M.
Livingston’s case is not comparable. His first season injury permanently reduced him from a potential superstar to a rotation player for the rest of his career. He never made more than $8M per year, even though he won a bunch of rings with the Warriors. He may have “overcome” the outcome of never playing again, but he never “overcame” the severe reduction in his ability.
Kevin Durant (because of a serious injury) played in less games during a 5 year span from age 30 thru age 34 than Murray did over the last 5 years. And then, last year at age 35, Durant played 75 games at a near mvp level.
Erictheredd , I think you’re right that Murray should have rested immediately after the loss to Utah, and not kept on playing through the Olympics.
We all saw that he was knicked up in April. The right course was to begin a six month rest and rehab, and, if necessary, get surgery. Instead, he continued into August, even though we all could see his condition had deteriorated.
This wasn’t about not resting, it was about playing while injured. Like you say, we’re 2 months from NBA training camp, and he needs more time than that to recover.
At the end of the day, the Nuggets are going to pay Murray max dollars, it’s just how much offset language there is. There’s two kinds of “max players” out there – guys who are worth basically bang on max, and guys who are worth more than that, but can only get the max. Murray is the former, not the latter – but not having Murray under contract severely hampers this team and puts too much on Joker. They’re going to have to roll the dice and be prepared for whatever happens to Murray, injury wise.
I don’t think they’ll be too worse off without KCP either – Braun is ready to step up, he’s got the defensive skills already and has shot the 3 well in his young career. Like a lot of young guys coming through, he has been limited by those around him – playing with the second unit, and often deeper bench guys, doesn’t always allow you to show your best. He’ll be fine in the starting lineup.
Not having DaRon Holmes could be a bigger blow that it looks like on the surface. He was tailor-made for this roster.
Not keeping KCP is and will be their downfall. Getting greedy and jinxing Holmes. Well we had one good year boys.
Just like GS it’s over
Luke 207 , are you really writing off Denver and Jokic? Unlike GS, nobody is old. Murray may miss some or all of this year, but he’s not retiring.
If Murray signs a 5 year extension and is able to play like bubble Murray twice in the next 5 years and the Nuggets win 2 championships that will be a massive success. I don’t know if Murray is tired or injured of just in a mini-slump or if this slump is something worse. I hope he’s healthy bc Jokic needs a Robin and when Murray is healthy (and Jokic too) the Nuggets are the most entertaining team in basketball. I think the Nuggets need to sign Murray and pray…bc there is no other alternative. I don’t see a 20pt, 6 assist, 40% from 3 guard appearing out of nowhere.