Jamal Murray, Denver Nuggets reach max contract extension

The wait is over for Jamal Murray and the Denver Nuggets.

Murray and the Nuggets agreed to a four-year contract extension worth more than $208 million, according to multiple reports. The Denver Gazette confirmed the contract extension Saturday afternoon.

The 27-year-old guard set to make $36 million next season before the extension kicks in.

Denver selected Murray after one season at Kentucky with the seventh pick of the 2016 draft. He came off the bench for a majority of his rookie season but has almost exclusively been a starter alongside Nikola Jokic in the six seasons since. After enjoying a breakout in the 2020 bubble, Murray missed the next two postseasons due to a torn anterior cruciate ligament. He bounced back by averaging 26.1 points, 7.1 assists and 5.7 rebounds, while shooting 47.3% from the field and 39.6% from 3-point range in Denver’s 20 postseason games in the 2023 championship run.

Murray matched his previous best scoring average with 21.2 points per game and set a new career-high with 6.5 assists, while his 2.1 turnovers per game was the lowest mark since his rookie season, but injuries impacted the beginning and end of his season. A hamstring issue cost Murray most of November, and calf and elbow injuries popped up in the playoffs, though he managed to play in 12 of Denver’s playoff games with inconsistent effectiveness.

Prior to the Olympics, The Athletic reported Murray and the Nuggets were close to a four-year extension worth $209 million. Nuggets general manager Calvin Booth said during Summer League that he didn’t expect negotiations to be too complicated once Canada’s Olympic run ended, which happened with Tuesday’s loss to France. Murray didn’t quite look like himself in Paris, posting six points per game on 29% shooting from the field and 14.3% from 3 in Canada’s four games, but Denver’s betting on his ability to get back to being Denver’s second star on a contending team.

With Murray’s extension, Denver will have three players making more than $35 million in the 2025-26 season, accounting for roughly 90% of the salary cap. Nikola Jokic, whose current contract runs through the 2026-27 season with a player option for the following season, will make $55.2 million in 2025-26, while Michael Porter Jr., whose contract also expires after 2026-27, will make $38.3 million.

Now, the Nuggets can turn their attention to Aaron Gordon. The 28-year-old is eligible for a contract extension in late September. His current contract ends after next season, though he does have a player option worth $22.8 million for the 2025-26 season.