2023 NBA Champion Signs Massive Extension with the Nuggets
Denver Nuggets point guard Jamal Murray signed a four-year, $208 million maximum contract extension, his agents Jeff Schwartz and Mike George told ESPN on Saturday. This extension guarantees Murray stays with the Nuggets through the end of the 2028-29 season, a total value of $244 million. His projected earnings for the next season are $36 million, while he is expected to reach $46.4 million during the 2025-26 season. He will further earn $50.1 million in the 2026-27 season, $53.8 million in the 2027-28 season, and finally reach $57.5 million during the last year of the deal, according to ESPN's Bobby Marks. For reference, Steph Curry’s most recent contract extension was $62.6 million, independent of his star duo Klay Thompson.
At age 27, Murray has cemented his status as a key cog in the Nuggets' machine, and he forms an ultra-efficient partnership with three-time MVP Nikola Jokic, one of the most lethal pick-and-roll tandems in the league. After his miss of the 2021-2022 season following a torn ACL, Murray had a spectacular return to help the Nuggets win the 2023 NBA Championship the next year. He is one of a select few in NBA history with two 50-point playoff performances and has the franchise record for most three-pointers made. In the past season, he averaged 21.2 points and 6.5 assists per game-highs. According to ESPN Stats & Information, he was one of just three players last season to average 20 points, six assists, and shoot 40% from beyond the arc.
With a deal this long, of course, there are a few risks involved. Murray's history of injuries, which includes an ankle sprain in 2020 and an ACL tear during the 2021-2022 season, provokes questions about how previous injuries may affect him through aging. Only time will tell whether he can sustain health and effectiveness over such a long period after this extended agreement. It is also the case that Murray has not made All-Star or All-NBA status, to be offered the max for a contract may be an over-investment. Fans question whether or not this was a smart investment, the risks seem to outweigh the benefits. It seems that the Nuggets were left with no other choice, relying on the already existing synergy between Jokic and Murray. However, it still stands how the Nuggets were seemingly unable to negotiate a better deal, even with the pertinent risks.
