The Denver Nuggets Had a Perfect Offseason—But the One Move They Refused Might Be What Keeps Them From Repeating

The Denver Nuggets have had a phenomenal offseason. After a disappointing exit in the second round of the 2025 NBA Playoffs, Denver’s front office didn’t panic. Instead, they went to work with surgical precision, shedding salary, adding depth, and retooling their roster around the MVP core of Nikola Jokić and Jamal Murray. On paper, they’re better, deeper, and more balanced heading into the 2025–26 season. But there’s still one move they didn’t make—a move insiders insist was available, attainable, and potentially dynasty-defining.

The Nuggets cleared major cap space when they moved on from Michael Porter Jr. Rather than pay him \$38.3 million in 2025-26, they flipped him and a couple of minor assets in a brilliant set of deals that netted them Cam Johnson, Tim Hardaway Jr., Jonas Valančiūnas, and Bruce Brown—at a combined cost of \$37 million. Not only did they replace MPJ’s inconsistent scoring and questionable health with more reliable and versatile veterans, but they also gained lineup flexibility. Valančiūnas gives Denver a bruising big who can spell Jokić without forcing Aaron Gordon into minutes at the five. Cam Johnson stretches the floor with more consistency than Porter ever did. Brown, of course, returns as a familiar and beloved Swiss Army knife.

But even with all those positives, fans and front-office whisperers alike keep returning to the one move Denver *could’ve* made: trading for All-Star guard Dejounte Murray.

Murray, who spent last season with the Atlanta Hawks, was available. Atlanta quietly shopped him to multiple contenders and was said to be “extremely close” to a deal with Denver in early July, according to multiple league sources. The framework: Denver would have parted with future picks, salary filler (likely Reggie Jackson and Zeke Nnaji), and rookie guard Collin Gillespie. The Hawks were ready to pull the trigger, according to reports—but Denver hesitated. Then they walked away.

Why?

There’s no question Dejounte Murray would have elevated the Nuggets’ ceiling. He’s a relentless defender, a secondary ball handler who can thrive with or without the ball, and a playoff-tested scorer who averaged 22.5 points, 6.4 assists, and 5.7 rebounds last season. Pairing him with Jamal Murray in the backcourt would’ve instantly made Denver the most dynamic two-guard lineup in the West. Add Nikola Jokić facilitating from the post and suddenly you’re talking about a three-headed monster few defenses could hope to contain.

Defensively, it would’ve been a dream. Dejounte Murray is the exact type of long-armed, switchable perimeter defender the Nuggets lacked during their playoff series against Minnesota, when Anthony Edwards torched Denver’s guards for stretches at a time. Jamal Murray, while talented offensively, has never been a lockdown defender. Kentavious Caldwell-Pope was the team’s best perimeter stopper, but he left in free agency. Replacing him with a better version—one with more offensive firepower and youth—seemed like a no-brainer.

Yet the Nuggets passed.

According to sources inside the organization, the hesitation came down to long-term flexibility. Denver’s braintrust, led by GM Calvin Booth, was reportedly wary of adding another big salary to the books, especially with Jamal Murray due for an extension and Jokić already on a max deal. Dejounte Murray is under contract for four more years at over \$25 million per season. That’s a bargain in today’s NBA for a player of his caliber, but it still represents a long-term cap commitment.

The front office didn’t want to mortgage the future. And with the new collective bargaining agreement in place, teams that cross the second tax apron will face harsh penalties—loss of exceptions, restricted trades, limited flexibility in free agency, and even draft pick restrictions. The Nuggets are trying to be a sustainable contender. Adding Murray might have been a short-term win with long-term consequences.

But is that a mistake?

Dynasties are built on windows, not balance sheets. And right now, Denver’s window is wide open. Jokić is in his prime. Jamal Murray is healthy. The West is deep but flawed. The Lakers are aging. The Suns are top-heavy. The Timberwolves still haven’t proven they can finish. The Thunder are young and dangerous, but untested. In short, the Nuggets *could* be the team of the next three years—if they go all in.

Passing on Murray might look prudent from a salary perspective, but from a basketball perspective? It’s hard to justify. The NBA is a superstar league. Titles aren’t won with caution—they’re seized with aggression. Just look at the Milwaukee Bucks. They played it safe after their 2021 title and got bounced in the first round two years later. Same for the Warriors in 2020 and 2023. The Celtics, meanwhile, went all in last year, adding Jrue Holiday and Kristaps Porziņģis, even at the cost of future picks and financial flexibility. They raised Banner No. 18 for their efforts.

Denver had the same chance. They had the assets. They had the interest from Atlanta. They had the fit. But they let it slip.

There’s also the human element. Murray’s addition would’ve allowed Denver to manage Jamal’s minutes more carefully during the regular season. Last year’s knee flare-ups and injury scares were a reminder that he still carries risk. Having another playmaking guard capable of running the offense could have been the perfect insurance policy.

Plus, imagine a closing lineup of Jokić, Murray, Dejounte, Aaron Gordon, and Cam Johnson. Versatile. Explosive. Balanced. That’s the kind of group you trust in a Game 7 on the road. Right now, the Nuggets will need to rely on less proven pieces in those situations—maybe Christian Braun, maybe Julian Strawther, maybe Tim Hardaway Jr. Solid players, but not stars.

There’s still time. The trade deadline looms in February, and if the Nuggets are a move away from the top tier, Murray—or a similar player—could be revisited. But the cost may go up. Atlanta may move him elsewhere. Other contenders may get stronger. And the chemistry and cohesion Denver could have built with a summer training camp will be lost.

It’s not panic time in Denver—not even close. This is still one of the best teams in basketball. Jokić remains the most dominant force in the game. Murray can hit any shot in the clutch. Their role players are proven, hungry, and deep. And the additions of Valančiūnas, Brown, Johnson, and Hardaway Jr. represent a masterclass in roster construction.

But for a team with true back-to-back championship aspirations, “great” isn’t always enough. Sometimes, the difference between repeating and regretting is one decision. One player. One moment of hesitation.

The Nuggets had a fantastic offseason. No question. But the one move they didn’t make—the one they *could have* made—might end up being the one they regret most. And if they fall just short again next spring, fans and analysts alike will remember the summer of 2025 not as the one that kept them on top—but the one that let the rest of the league catch up.