As we head into the month of September, Denver Nuggets star guard Jamal Murray has yet to ink a contract extension. The Nuggets at this juncture have 15 players on standard guaranteed contracts, three on two-way deals, and three more on Exhibit 10 pacts. Therefore their roster looks pretty much set for the regular season. Denver Nuggets president Josh Kroenke recently told Denver Post’s Nuggets beat writer Bennett Durando he believes the roster is set.
Nuggets president Josh Kroenke today after a round of golf in Castle Pines: “I think right now the roster’s pretty set for this year. But you never know. Our eyes and ears are always open. The new rules are interesting, and how some of those trades work once you’re over the tax.”
— Bennett Durando (@BennettDurando) August 21, 2024
One outstanding story revolving around the Nuggets this offseason is whether or not Jamal Murray and the Nuggets can come to terms on an extension for the star guard. Shams Charania reported in late June that the sides were working towards an agreement on a four-year, maximum-salary extension. The deal would begin in the 2025-2026 season and would be worth $208.5 million, based on the NBA’s latest cap projections. However, as we near the month of September with training camp on the horizon, there has yet to be an agreement on a contract extension between the sides.
The Jamal Murray Contract Extension Saga
During the Paris Olympics, reports indicated that the sides would wait until after the Olympics to complete a new deal after talks were on the back burner due to Jamal Murray’s commitment to Canada for the 2024 Olympics. Well, the Olympics are over, and there is still no deal in place. So are the Nuggets and Murray’s representation still planning to move forward on that maximum salary extension? Presumably, we’ll get an answer soon as the star guard obviously is back in Denver and seen practicing at their facilities.
Murray Wants a Guaranteed Deal
Obviously, a four-year extension is a worthwhile investment for the Nuggets if Denver is getting the peak version of Murray. However, he has battled injuries throughout his career. Furthermore, Murray certainly wasn’t at his best in the NBA playoffs or during the Paris Olympics. With no formal agreement in place yet, maybe there’s some wiggle room for the team to protect itself a little with some injury clause or partially guaranteed years.
Murray has never made an All-Star team making a fully guaranteed contract worth an average of $52 million annually risky. This would create additional financial constraints for an organization that is already being affected by its high payroll. Notably, due to financial concerns Denver lost two key players in consecutive years respectively Bruce Brown and Kentavious Caldwell-Pope.
However, reports indicated in July that Jamal Murray and his agent, Jeff Schwartz of Excel Sports Management, are not inclined to sign a deal with language tied to playing time and fitness. They want a fully guaranteed contract and are willing to wait. Murray’s demands certainly appear to be a key reason why these extension talks have dragged on.
Calvin Booth’s Comments
Denver Nuggets General Manager Calvin Booth told SiriusXM NBA Radio a while back the following regarding Jamal Murray’s contract extension
“The Olympics are a big deal. I think having him focus on that and getting through that, and when he gets back, and that concludes, I think it’ll be pretty easy.” Booth said. “I don’t think it’ll be much of a negotiation.”
However, there is still no deal in place which is cause for pause. Perhaps Murray’s poor Olympic and Playoff performances are contributing to this hold-up. Additionally, the Nuggets’ financial situation makes a Murray extension complex. Nevertheless, Murray has been a crucial part of the Nuggets’ including winning the NBA championship in 2023. As Nikola Jokic‘s co-star expect Denver’s front office to prioritize a Murray extension. With Denver losing two key players in the past two offseasons they can’t afford to possibly lose Jokic’s main co-star.
The Last Word
In conclusion, Nuggets fans should be hopeful that Nuggets General Manager Calvin Booth will get a contract extension done with Murray’s representatives before the season starts. Murray’s importance to the Nuggets’ success and his desire to secure the biggest contract possible make a deal mutually beneficial. However, if Murray enters the season on an expiring contract with no formal agreement on a contract extension, it would be worrisome. Ultimately, the Murray extension will be something to continue keeping an eye on.
