NBA teams tell you what they believe by how they spend, and on whom they spend it. And by agreeing to terms with Jamal Murray on a four-year, $208 million maximum contract extension, the Denver Nuggets are telling us they believe their best chance of continuing to compete for NBA championships lies with the Canadian point guard flanking Nikola Jokić through the balance of his prime.
They’re also telling us that they believe Murray’s rocky last few months, marked by a disappointing postseason and a disastrous turn at the Olympics, and his relative lack of individual accolades — he’s the only player set to make more than $50 million a season on average without an All-NBA or even an All-Star selection — don’t matter nearly as much as the eight years of chemistry he’s built with the three-time Most Valuable Player. That’s important, because if the total dollar amount of the agreement didn’t raise eyebrows — 30% of the 2025-26 salary cap amid the post-new broadcast deal boom — the timing of it might.
Re-upping now eliminates the possibility of the 27-year-old Murray leaving in free agency next offseason — welcome news to Nuggets fans, surely, after watching 2023 title contributors Bruce Brown and Kentavious Caldwell-Pope exit on the unrestricted market over the past two summers. (It also removes yet another star-caliber talent from the 2025 free-agent class, which is shaping up to be something of a Yikes Festival.) It also secures his services beyond the end of Jokić’s current contract — the big fella’s deal runs through 2027-28, with a $62.8 million player option for that season — which ensures Denver will continue to have access to the sterling two-man game that has bedeviled defenses, and consistently produced top-10 offenses, for the better part of a decade.
In theory, securing that cornerstone seems like a no-brainer stomach-settler. In practice, though, there’s some slight cause for queasiness. Denver backed up the Brinks truck to extend Murray through the end of the 2028-29 season on the heels of a campaign in which he was limited by hamstring, ankle, shin and knee injuries to just 59 games — the fourth straight season in which he has made 65 or fewer appearances. (He also missed the entire 2021-22 season after tearing the anterior cruciate ligament in his left knee.)
It gave him the biggest bag possible coming off the least productive postseason run of his career, in which a pair of very loud shots in the opening round against the Lakers …
… drew attention away from an overall performance that saw him shoot just 40.2% from the field and 31.5% from 3-point range. Playing through a calf strain, Murray struggled mightily to generate separation and clean looks — especially against the likes of Jaden McDaniels, Anthony Edwards and Nickeil Alexander-Walker in a second-round series the Timberwolves won, knocking off the defending NBA champions in seven games.
Ant’s defense in this series…
He’s held the Nuggets to 35% FG — and Jamal Murray to 26% FG — when he’s the primary defender. pic.com/j1KWPI4uGF
— Alan Horton (@WolvesRadio) May 19, 2024
Murray’s fortunes didn’t turn with the Canadian men’s national team at the 2024 Paris Olympics, either. Coming off the bench behind superstar lead guard Shai Gilgeous-Alexander, Murray totaled just 24 points on 9-for-31 shooting across four games, including a 2-for-14 mark from long distance. Lineups featuring Murray were outscored by 23 points in 82 minutes during Canada’s Olympic tournament, which ended in a frustrating loss to host nation France in the quarterfinals, one win shy of the medal round.
But despite his shaky recent form, and despite the prospect of those lower-leg injuries persisting as he moves toward age 30, the Nuggets had reportedly always planned to offer Murray a max extension following the Olympics.
Their decision to commit to Murray with a max extension before observing his performance in a full training camp and preseason indicates their belief that his playoff and Olympic struggles were due to injuries that he has since recovered from. Nuggets president Josh Kroenke emphasized that Murray played through significant injuries that would have sidelined most players, highlighting his toughness and resilience. The team’s confidence in Murray’s health is backed by reports confirming his good physical condition and readiness for the upcoming season. This faith in Murray’s ability to excel on the court, especially in crucial moments, is grounded in the team’s firsthand observation of his past accomplishments. One team that has been the subject of much speculation is the Nuggets, who lost their starting shooting guard Kentavious Caldwell-Pope to a lucrative deal with the Magic that may have pushed them past the second-apron line for multiple seasons. Team president Kroenke hinted at the possibility of a hard cap for the franchise, stopping just short of confirming it.
Kroenke explained to The Denver Post that while the second apron doesn’t necessarily serve as a hard cap for the team, managing the starting five under that limit requires careful maneuvering to maintain flexibility. The decision to let Caldwell-Pope go in free agency was a strategic move to preserve future flexibility, even though they were initially keen on retaining him.
The big question now is whether the Nuggets are preserving flexibility to potentially exceed the second-apron line to keep power forward Aaron Gordon, who has a player option for the ’25-26 season. The team could be preparing to make tough decisions to balance the roster and financial obligations, especially after winning their first championship.
As Gordon becomes eligible for a contract extension later this month, negotiations are underway to secure his future with the team. The Nuggets are faced with the dilemma of prioritizing their championship core or maintaining financial stability for the long term.
Ultimately, the Nuggets’ decision to prioritize the Jokić-Murray tandem suggests that they believe in the duo’s potential to lead the team to success. While there are risks involved, including the potential loss of key players like Gordon, the team is willing to make bold moves to secure their future success. Only time will tell if their gamble pays off or if they will face challenges down the road. The text is missing, please provide the content you would like me to rewrite.