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Nikola Jokic #15 of the Denver Nuggets plays the Brooklyn Nets in the first quarter at Ball Arena on January 10, 2025 in Denver, Colorado. (Photo by Matthew Stockman/Getty Images)

The Denver Nuggets just got bounced in the first round of the 2026 playoffs by the Minnesota Timberwolves. That kind of loss does not go without consequences, and it seems like the front office knows it.

Per a post by @UnderdogNBA on X, Nuggets president Josh Kroenke addressed the upcoming offseason and made his position pretty clear on what moves are actually possible for Denver this summer.

“I think that everything is going to be on the table outside of trading Nikola. I should be clear because my words got twisted in an interesting way last summer. But yeah, I think everything is on the table outside of trading Nikola. I think we need to have running it back as a possibility.”

Kroenke’s comments come after a rough playoff exit. Neither Jokic nor Jamal Murray played to their usual postseason levels, and Minnesota’s defense had a lot to do with that. The Nuggets blew a big lead in Game 2, lost by double digits three times, and could not even crack 100 points in three games in Minnesota, all while being the team with the better regular-season offense.

Josh Kroenke Clarifies His Jokic Trade Comments

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Still, Kroenke felt the need to get ahead of the noise, and that tells you something about how loud the offseason chatter has already gotten. This is not the first time Kroenke has had to address the Jokic trade topic.

Last summer, he mentioned the second apron as a situation that could force the team’s hand. He said the wrong injury situation could very quickly put the team in a scenario where trading Jokic becomes something to contemplate, which obviously stirred up a lot of conversation.

This time around, he was more direct about what he meant then, and what he means now.

Jokic averaged 25.8 points, 13.2 rebounds, and 9.5 assists in the playoff series against Minnesota. Not a bad line. The issue was never him.

The real problem for Denver is money. The Nuggets are projected to be well over both the luxury tax line and both aprons, with the starting five alone accounting for over $185 million in salary. That makes any kind of aggressive roster move very complicated.

What the Nuggets Offseason Could Actually Look Like

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Even with Kroenke saying everything is on the table, the financial reality limits how much they can actually do. Nuggets legend Dan Issel said it plainly: he does not think owner Stan Kroenke will go deep into the luxury tax aprons, and does not expect a lot of big moves from the franchise this summer.

Aaron Gordon’s name is already being mentioned as a potential trade chip, and Peyton Watson could leave in free agency. Those are the kinds of moves that seem more realistic than any blockbuster deal.

Jokic is also eligible for a four-year extension worth close to $280 million, and after declining to sign one last summer, whether he commits long-term this offseason is one of the biggest storylines to follow for Denver.

The Nuggets are stuck in a spot where they need to change things but do not have a lot of room to do it. Kroenke promising a real offseason shakeup is a start. Whether the finances actually allow for one is the question that will define Denver’s next chapter.