CapmathThe NBA Cap Ledger
Vol. XI · 2026-27 · Computed live
Vol. XI · 2026-27 · Computed live
Denver Nuggets · Salary cap report
Nuggets are $10.7M over the second apron.
Denver Nuggets payroll for the 2026-27 season is $226.7M against a $165.0M salary cap.
Payroll, the salaries actually on the books plus dead money, is $226.7M. Counting cap holds for their own free agents, the Nuggets' cap number rises to $235.5M, which is why there is no usable cap space until those holds come off the books. Renouncing every free-agent hold would open -$61.8M of room and give up Bird rights.
Run Nuggets' offseason yourself→Over the second apron
What the numbers mean
Payroll$226.7M
The salaries actually committed to players right now.
Counts against the cap$235.5M
What the league counts: payroll plus free-agent hold placeholders.
Luxury tax lineOVERby $26.3M
Cross it and the team pays a penalty on every dollar over.
First apron lineOVERby $23.3M
A stricter line. Over it, the bigger roster tools freeze. The apron figure counts $5.6M in unlikely bonuses on top of payroll: incentive money a player probably won't earn, which counts against the aprons but not the cap or tax.
Where the Nuggets land · payroll against the cap lines
Cap$165.0MTax$200.4MApron 1$209.0MApron 2$221.7M
The solid bar is real payroll. The hatched extension is a free-agent hold crossing the cap line. Renounce it and the room clears.
The apron math · what counts toward the aprons
Payroll (contracts, dead money, drafted rookies)$226.7M
Unlikely bonuses+$5.6M
Apron figure$232.3M
First apron $209.0MOVERby $23.3M
Second apron $221.7MOVERby $10.7M
Free-agent cap holds never count toward the aprons. Only payroll (with drafted rookies booked as signed) and unlikely bonuses, incentive money a player probably won't earn, do.
The books
2026-27 focused
| Player | Pos | 2026-27 | 2027-28 | 2028-29 |
|---|---|---|---|---|
| Signed contracts | ||||
| Nikola Jokic | C | $59.0M | PO$62.8M | – |
| Jamal Murray | G | $50.1M | $53.8M | $57.5M |
| Aaron Gordon | F | $32.0M | $34.5M | PO$37.1M |
| Cameron Johnson | F | $23.1M | – | – |
| Christian Braun | G | $21.6M | $23.3M | $25.0M |
| Zeke Nnaji | F | $7.5M | PO$7.5M | – |
| Spencer Jones | F | $6.0M | $5.8M | – |
| Julian Strawther | G | TO$4.8M | – | – |
| DaRon Holmes II | F | TO$3.4M | TO$5.5M | – |
| Marvin Bagley III | F | $2.4M | – | – |
| Lonnie Walker IV | G | $2.4M | – | – |
| Tyus Jones | G | $2.4M | – | – |
| DeMar DeRozan | G | $2.4M | – | – |
| Hunter Tyson | F | TO$2.4M | – | – |
| Jalen Pickett | G | TO$2.4M | $3.0M | – |
| Trevon Brazile | F | $1.4M | $2.3M | $2.7M |
| Alpha Diallo | F | $1.4M | – | – |
| Signed subtotal | $224.7M | $198.5M | $122.3M | |
| Dead money | ||||
| Jonas Valanciunas | – | $2.0M | – | – |
| Payroll | $226.7M | $198.5M | $122.3M | |
| Cap holds · placeholders, not paid | ||||
| David RoddyMIN HOLD | F | $2.2M | – | – |
| K.J. SimpsonMIN HOLD | F | $2.2M | – | – |
| Curtis JonesMIN HOLD | F | $2.2M | – | – |
| Bryce HopkinsMIN HOLD | F | $2.2M | – | – |
| Marvin Bagley IIINON-BIRD | F | – | $2.9M | – |
| Hunter TysonBIRD 300% | F | – | $7.2M | – |
| Julian StrawtherBIRD 300% | G | – | $14.5M | – |
| Spencer JonesEARLY BIRD | F | – | – | $7.5M |
| Nikola JokicBIRD 150% | C | – | – | $66.1M |
| Jalen PickettBIRD 300% | G | – | $7.2M | – |
| Zeke NnajiBIRD 190% | F | – | – | $14.2M |
| DaRon Holmes IIBIRD 300% | F | – | – | $16.6M |
| Cameron JohnsonBIRD 150% | F | – | $34.6M | – |
| Jonas ValanciunasBIRD 190% | C | – | $19.0M | – |
| Tyus JonesNON-BIRD | G | – | $2.9M | – |
| Jamal MurrayBIRD 150% | G | – | – | – |
| Aaron GordonBIRD 150% | F | – | – | – |
| DeMar DeRozanNON-BIRD | G | – | $2.9M | – |
| Lonnie Walker IVNON-BIRD | G | – | $2.9M | – |
| Alpha DialloNON-BIRD | F | – | $2.5M | – |
| Counts against the cap | $235.5M | $295.3M | $232.8M | |
What they can add
Veteran minimumup to $2.4M
This high, outside free agents can only be signed for the minimum.
Bird rightsLets them re-sign their own free agents up to the max.
Locked outThe top line freezes the most: no mid-level signing, no combining salaries in a trade, no cash in deals, and a frozen first-round pick.
Trade exceptions
Trade exception · from the Hunter Tyson tradeup to $2.2M
Absorbs one incoming contract up to this amount with no salary matching. Expires Feb 5, 2027.
A trade exception is a credit from an earlier trade, not money on the books, so it does not count toward the cap, tax, or apron. On file as of Sep 19, 2026; may not be complete.
Decisions ahead
Option calls before 2027-28
Nikola Jokic $62.8M player option, Zeke Nnaji $7.5M player option, DaRon Holmes II $5.5M team option.
Expiring after 2026-27
Cameron Johnson $23.1M, Julian Strawther $4.8M, Marvin Bagley III $2.4M, Lonnie Walker IV $2.4M, Tyus Jones $2.4M, DeMar DeRozan $2.4M, Hunter Tyson $2.4M, Alpha Diallo $1.4M come off the books.
Front office
Run the Nuggets offseason
Take these exact books into the GM Machine and re-sign, sign, waive, stretch, and draft, with every cap rule checked and explained as you go.
Draft picks through 2033
The Nuggets control 4 first-round and 4 second-round picks, 2 carrying swap rights.
2026
2026 2nd (via ATL) · No. 49
Atlanta's own second conveyed to Denver at pick 49, routed via Brooklyn and Golden State.
Their own 1st, owed to SAS · No. 26
Denver's own first (pick 26) traded to San Antonio on 2026 draft night; San Antonio selected Tarris Reed Jr.
Their own 2nd, owed to CHI · No. 56
Denver's own second conveyed to Chicago at pick 56, routed via Minnesota, Phoenix, and Charlotte.
2027
Their own 1st, owed to OKC
Owed to Oklahoma City, top-5 protected (DEN keeps it only as a top-5 pick), from the June 2022 JaMychal Green draft-night salary dump to Oklahoma City; OKC may further convey to the Clippers. Rolls to a top-5-protected 2028 first if it does not convey.
Their own 2nd, owed to UTA
Acquired by Utah when Boston attached it to the Chris Boucher salary dump, February 5 2026; a conflicting Chicago claim is the weaker reporting.
2028
2028 1st (own, swap rights attached)Stepien-locked
Top-5-protected obligation to OKC that applies only if the 2027 first did not convey because DEN landed top-5; otherwise DEN keeps this first outright.
2028 2nd (via MIN)
Unprotected second, owed to San Antonio in the 2023 deal then sent to Denver in the June 2026 Tarris Reed draft-night trade.
Their own 2nd, owed to WAS
Owed to Washington, protected 31-33 (DEN keeps it only if it lands 31-33).
2029
Their own 1st, owed to OKC
Owed to Oklahoma City, top-5 protected, from the 2023 Pickett/Strawther/Tyson trade; conditional on the 2027 DEN first having conveyed first, and it rolls to 2030 if it does not convey.
Their own 2nd, owed to CHA
Owed to Charlotte, conditional on Denver having already conveyed a first to Oklahoma City by then; not a clean unconditional second.
2030
2030 1st (own, swap rights attached)Stepien-locked
Rollover of the top-5-protected OKC obligation: conveys only if the 2029 first went to OKC and DEN again lands outside the top 5, otherwise DEN keeps it.
Their own 2nd, owed to OKC
Memphis takes the most favorable of the Denver, Houston, and Miami 2030 seconds and Oklahoma City the second most and least; Denver's slot goes to Memphis if it is the most favorable, otherwise Oklahoma City. From the June 2026 Memphis-Oklahoma City trade.
2031
2031 1st (own)Stepien-locked
2031 2nd (via SAC)
Owed to Denver, sent to San Antonio in the 2024 DeMar DeRozan deal then on to Denver in the June 2026 Tarris Reed draft-night trade.
Their own 2nd, owed to CHI
Owed to Chicago, unprotected. Denver sent it to Phoenix in June 2024, Phoenix packaged it to Charlotte in the January 2025 Nick Richards trade, and Charlotte flipped the Denver-origin pick to Chicago in February 2026 (keeping Phoenix's own 2031 second).
2032
Their own 1st, owed to BKN
Owed to Brooklyn, unprotected, from the July 2025 Michael Porter Jr. for Cameron Johnson trade.
Their own 2nd, owed to BKN
Owed to Brooklyn, from a separate trade-deadline deal involving Hunter Tyson.
2033
2033 1st (own)Stepien-locked
2033 2nd (own)
Protections and swap conditions in plain English. Full story on the Nuggets draft picks page.
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