Nuggets Must Trade Johnson or Braun to Keep Watson and Sign Jokic Extension

The Denver Nuggets’ offseason just got complicated. With Nikola Jokic expected to sign a four-year, $278 million extension and Peyton Watson entering restricted free agency after a breakout season, Denver faces a choice it cannot avoid: move one of Cameron Johnson or Christian Braun to make the math work.

ESPN’s Tim Bontemps was first to report the expected trade decision, with league sources confirming the Nuggets will need to shed significant salary to keep Watson without blowing through the second apron. Denver’s current payroll sits at $213.8 million – roughly $2 million below the threshold – with nine players under contract.

Why Watson matters so much

Watson’s numbers this season: 14.6 points, 4.9 rebounds, 1.1 blocks per game. He shot efficiently on both ends and gave the Nuggets the kind of versatile two-way wing that championship-level rosters are built around. At 23 years old and just entering his prime, he drew interest from multiple teams during the season, including the Los Angeles Lakers.

Losing him in free agency would be, in executive Josh Kroenke’s own framing, unacceptable. “Everything is on the table,” Kroenke said, per Dallas Hoops Journal – “except trading Jokic.”

Johnson or Braun: an uncomfortable choice

Johnson, whose $23 million deal expires this summer, is the simpler piece to move. His value as a 3-and-D wing with playoff experience is real, and his expiring contract makes him a clean trade asset. Braun’s situation is messier – he signed a five-year, $125 million extension and has spent the past year establishing himself as a reliable starter.

A rival scout told ClutchPoints the Nuggets ownership is “trying to eat their cake.” The cap reality suggests they cannot.

Jokic extension is the anchor

At the center of all of it, literally and figuratively, is Jokic (26.4 points, 12.7 rebounds, 9.0 assists this season). The three-time MVP declined to sign an extension last summer and is now eligible for a four-year maximum deal worth approximately $278 million. League sources expect him to sign, locking Denver’s core in place through the 2030-31 season.

The draft is June 23 in Brooklyn. By then, Denver’s front office will have had to make at least one phone call it does not want to make. Who they call – and who picks up – will define the next chapter of this franchise.