Heading into this offseason, I had sympathy for the Denver Nuggets front office, no matter who ended up running the show.
The most difficult part of an lead decision maker’s life in the NBA is to take the final step to championship contention, going from “close” and “hanging around” to “in position” and “leading the pack.”
That might not quite be where the Nuggets are after the moves made yesterday, but they’re closer to a championship than they were the day before.
Initially, the messaging from Ben Tenzer and Jon Wallace after the NBA Draft on Thursday night was one of margin moves. They imparted the message that the core is good enough to win another title and declaring that Denver would look to bolster their bench unit to support an already elite starting unit.
Well, so much for that.
In case you missed it, the Nuggets traded Michael Porter Jr. and a 2032 unprotected first round pick to the Brooklyn Nets for Cam Johnson, a deal that makes sense for both sides. The Nuggets get cheaper (and maybe slightly better and more versatile) with Johnson in the starting group. The Nets absorb Porter’s contract into their extensive cap space, can potentially flip him at a later date, and get a potentially great first round pick seven years from now. The Nuggets build for now. The Nets build for the future. Win-win.
But the degree to which it’s a great deal for the Nuggets will be explained a bit later.
In addition to the Johnson trade, the Nuggets also signed veteran guard Bruce Brown to a one-year minimum contract, a reunion that was universally approved across the NBA. Brown’s best season was in Denver, and he priced himself out of Denver’s range because of how well he played. Since then, Brown has been with the Indiana Pacers, Toronto Raptors, and New Orleans Pelicans but never truly found a home like Denver. Now, he returns to a team and system that understands exactly how to utilize him.
So, the Nuggets get Johnson and Brown, replacing Porter and (assumably) Russell Westbrook, who looks to be garnering interest from other teams this offseason. In a vacuum, that’s probably a wash talent and impact wise. Porter was arguably Denver’s second most impactful regular season player this past year, while Westbrook had important moments of uplifting the team throughout both the regular season and playoffs.
Ultimately, the fit is slightly better with both Johnson and Brown though. They can play both on and off the ball, provide more versatility, and will limit turnovers in a significant way. Johnson will be an incredible spacer for Denver, and Brown will be the Swiss army knife they always needed.
Now, here’s why the moves are actually incredible:
The Nuggets have opened up so much financial flexibility by moving Porter’s contract. With 13 players on the roster currently, the Nuggets are positioned with a projected salary of roughly $181 million. Though there are some incentives to figure out with Johnson’s contract, the Nuggets have gained access to a couple different ways to improve their roster moving forward.
- Non-Taxpayer Mid-Level Exception of up to $14 million in 2025-26, can only be used if the Nuggets don’t exceed the first tax apron
- Traded Player Exception of ~$16.5 million created from the Michael Porter-Cam Johnson trade, expires in one year. Can only be used if the Nuggets don’t exceed the first tax apron
- Traded Player Exception of ~$5.25 million created from the Reggie Jackson trade last year, expires on July 7th. Again, can only be used if the Nuggets don’t exceed the first tax apron
At this current moment, the Nuggets are about $9.6 million away from the first tax apron with two roster spots to fill. If the Nuggets pay another veteran minimum contract like Bruce Brown ($2.296 million) that means the Nuggets will have just under $7.4 million to spend out of their Non-Taxpayer MLE to recruit another free agent to Denver. Before the Michael Porter Jr. trade, the Nuggets would only have had access to the Taxpayer Mid-Level, worth $5.7 million in the first year and about $11.7 million over two seasons.
The good thing about the Non-Taxpayer MLE is that it can be paid a total of four years at 5% raises, meaning the Nuggets could offer a much more significant contract (closer to four years, $32 million) to a possible free agent. The Taxpayer MLE maxes out at two seasons, so that’s a difference of over $20 million the Nuggets can use to entice a free agent.
Here’s where the Nuggets depth chart currently stands:
- Point Guard – Jamal Murray, Bruce Brown?, Jalen Pickett
- Shooting Guard – Christian Braun, Julian Strawther
- Small Forward – Cam Johnson, Peyton Watson, Hunter Tyson
- Power Forward – Aaron Gordon, DaRon Holmes II
- Center – Nikola Jokic, Zeke Nnaji, Dario Saric
The Nuggets could still most assuredly use some frontcourt depth, and they could also use another player in the backcourt to either provide some outside spacing, defense, playmaking, or any combination of the three.
There are still some interesting names available in free agency. Al Horford and Guerschon Yabusele represent the two best affordable big men in this free agency class, though Chris Boucher, Trey Lyles, and now Deandre Ayton would be interesting names to watch. At guard, The Nuggets’ own Russell Westbrook is still available if Denver desired a reunion, but other guards like Malcolm Brogdon, Tre Mann, Tim Hardaway Jr., and others might interest them more. Cody Martin and Amir Coffey represent two options on the wing.
If Denver decided to go that direction with one of those options, they’d be well within their right.
Of course, maybe the Nuggets have identified a player currently on a roster and are interested in targeting that option instead. Various teams are always considering ways to get cheaper, and the Nuggets’ Traded Player Exceptions are almost like a lottery ticket when it comes to the new CBA.
Targeting the right team in the right situation might be beneficial to Denver. For example, the Boston Celtics, Cleveland Cavaliers, and Phoenix Suns all have a high tax bill right now. Could the Nuggets get in on veteran bench players like Sam Hauser, Dean Wade, or Nick Richards to try and bolster Denver’s depth? There might be something to those deals.
An interesting wrinkle, the Nuggets could also leave a portion of their MLE available below the first apron if they were interested in exploring the buyout market during the middle of the season, something they couldn’t seriously do last season due to new CBA rules.
Whatever the case, the Nuggets have opened up the door for a variety of new possibilities. It was why breaking up the Core Four (specifically MPJ) was always a distinct possibility in Denver’s future. The Nuggets quickly became too expensive in the modern era, and with extensions for Christian Braun and Peyton Watson a possibility in the near future, finding a way to rebalance the salary cap was always in Denver’s best interest.
Now, it’s on the Nuggets to take advantage of the flexibility that they’ve accrued. Spending a future first round pick to do so almost implores Denver to not miss this opportunity to add one or two more rotation caliber pieces to the roster. They CAN. The question is, will they?