Rapid Reaction: Denver Nuggets bet big on Jamal Murray with max extension

All the Nuggets’ chips are in the middle of the table.

After signing Jamal Murray to a four-year max contract extension worth more than $200 million on Saturday, Calvin Booth and the Nuggets are betting big on the current core being good enough to win another championship.

Starting in the 2025-26 season, Denver will have Murray and Nikola Jokic both making more than $50 million per year. Add in Michael Porter Jr.’s max contract and a possible extension for Aaron Gordon and Denver’s not going to have much room to add to the roster via free agency for the foreseeable future. That means the roster is effectively set for the remainder of Jokic’s prime.

Signing Murray to an extension looked like a no-brainer a year ago. He played some of the best ball of his career, and his connection with Jokic in the two-man game was crucial to the Nuggets 16-4 run to the 2023 championship.

Last season showed the gamble the Nuggets are making on their starting guard. A series of leg injuries disrupted his regular season, and his regular playoff effectiveness was limited by a calf strain. Without a consistent secondary star, Denver’s chance to repeat ended in the second round.

The future of the Western Conference is at stake. While the Lakers and Warriors seem to be aging out of contention, there’s a group of teams capable of being the best of the West. Minnesota and Oklahoma City should feel like their best chances to win a title are still in front of them. Dallas and Phoenix are in more similar positions to Denver with established cores trying to make the most of the next few seasons. As long as Victor Wembanyama stays healthy, San Antonio will be contending before long, while teams like Memphis, New Orleans and Houston don’t appear too far off.

Most of those teams have more wiggle room than Denver moving forward, but the Nuggets have proof of their championship concept and are betting big on continuity. The franchise could cash in as soon as next season, but a little bad luck could cost the franchise a chance to contend for the life of Murray’s new contract.