The Denver Nuggets find themselves staring down a franchise-altering crisis that few teams in the modern NBA have ever faced. After years of aggressive maneuvering under former general manager Calvin Booth, the Nuggets have been stripped of nearly all future flexibility, leaving them with a barren draft outlook and limited options to improve the roster around Nikola Jokić.
According to ESPN’s Bobby Marks, the Nuggets sit dead last—30th out of 30—in projected future draft assets. What’s more striking is that they occupy this position entirely alone. No other team shares their dismal category. With just four future first-round picks and two second-round picks on the horizon, Denver’s war chest is virtually empty at a time when the league increasingly demands draft compensation in major deals.
The root of this nightmare traces back to a series of calculated risks taken by Booth. In pursuit of immediate contention, the Nuggets repeatedly traded away first-round capital. The most notable return was Peyton Watson, a promising young forward who has shown flashes of high-level defense and versatility. However, the cost has proven severe. Trades involving the Oklahoma City Thunder, particularly the concessions of 2027 and 2029 first-round picks, included protective language and rollover provisions that effectively remove Denver’s control over those selections. As a result, the Nuggets will enter the upcoming draft with their only immediately usable first-round pick, while most future assets remain heavily restricted or spoken for.
This lack of tradable first-round picks creates a paralyzing situation. In today’s NBA, even mid-tier veterans often require draft compensation, and superstar availability — such as rumored discussions around Giannis Antetokounmpo in Milwaukee — almost always demands multiple unprotected first-rounders. Without them, the Nuggets are largely sidelined from aggressive pursuit of difference-making talent unless they involve third teams to facilitate asset flows.
A desperate need for retooling
Faced with this reality, Denver’s path forward appears to center on high-stakes player trades rather than traditional drafting and development. Recent trade machine simulations have explored scenarios such as sending Jamal Murray to the Portland Trail Blazers in exchange for two future first-round picks. Similar frameworks involving Aaron Gordon have also been floated. These types of deals represent the Nuggets’ best — and perhaps only — realistic avenue to replenish their asset pool.
The pressure is compounded by the looming free agency situation of Peyton Watson, the team’s most talented young player outside of Jokić. After trading up to select and develop him, the Nuggets now face the painful possibility of losing Watson via an offer sheet they may be unwilling or unable to match. Such an outcome would symbolize the ultimate failure of Booth’s strategy: giving up significant future draft capital only to walk away four years later with minimal long-term gains.
With Booth no longer at the helm, the current front office inherits a self-inflicted constraint that limits both short-term agility and long-term sustainability. The Nuggets’ championship window remains open thanks to the enduring greatness of Nikola Jokić, but the supporting cast construction has become dangerously rigid.
The road ahead
For Denver, the mandate is clear: wheel and deal aggressively. Whether through star-for-assets swaps or creative multi-team structures, the Nuggets must prioritize acquiring future draft picks while simultaneously upgrading the roster. Sitting still is not an option. The organization that once masterfully built around Jokić now finds itself in a nightmare scenario of its own making — zero assets, limited maneuverability, and the looming threat of losing homegrown talent.
The coming months will determine whether this is merely a difficult chapter or the beginning of a prolonged decline. For a franchise accustomed to contending at the highest level, the current reality is as sobering as it is urgent.