Denver Nuggets veteran point guard Reggie Jackson has opted into his $5.25 million player option for the 2024-25 season, according to ESPN's Adrian Wojnarowski.
Jackson, 34, joined the Nuggets during the 2022-23 season after being traded from the Los Angeles Clippers to the Charlotte Hornets. Upon completion of the trade, Jackson was waived by the Hornets and packed his bags for Denver. After proving his worth by coming off the bench, the Nuggets awarded the veteran with a two-year, $10.25 million contract last summer. This deal contained a player option for the 2024-25 season.
With the Nuggets during the 2023-24 season, the veteran guard became an essential part of the defending NBA champion's bench unit. Due to Jamal Murray dealing with multiple injuries during the regular season, Jackson ended up stepping into the starting lineup and serving as the starting point guard for 23 games.
In total, he played in all 82 games this past year, averaging 10.2 points and 3.8 rebounds per game while shooting 43.1 percent from the floor and 35.9 percent from three-point range. His 2.9 assist-to-turnover ratio was the best of his career.
Although he has opted into his contract with the Nuggets, this doesn't necessarily mean that Jackson will be on their roster to begin the new season. Denver faces some financial hurdles this offseason, and Jackson is immediately eligible to be traded after opting into his player option. The Nuggets, who face the scenario of Kentavious Caldwell-Pope becoming a free agent, may have to make a tough decision in regards to keeping Jackson.
Nuggets facing Reggie Jackson, Kentavious Caldwell-Pope decisions
Like Jackson, Caldwell-Pope has a decision to make on his $15.44 million player option for the 2024-25 season. While the Nuggets can hold out hope that the veteran shooting guard will opt into his deal, that simply isn't going to happen due to the amount of money the 31-year-old will see in free agency.
Various playoff-contending teams are expected to have interest in Caldwell-Pope this offseason since he has consistently been one of the best two-way shooting guards in the entire league. After all, he has been a part of two championship teams since 2020.
The problem regarding Caldwell-Pope and Jackson is that the Nuggets carry a payroll of roughly $175 million. This does not include Caldwell-Pope's contract. Essentially, the Nuggets are going to be operating as a second apron team if they run things back and keep everyone that was on their roster for the 2023-24 season.
The assumption right now is that Caldwell-Pope will receive offers anywhere from $75 million to $80 million in free agency. The good news for the Nuggets is that they own the veteran's Bird rights, meaning that they can offer him a five-year contract to stay in Denver.
If Caldwell-Pope decides to stay in Denver on a new deal that will earn him over $20 million during the 2024-25 season, this suddenly puts the team in a bind because of the extra $5 million owed to Jackson. That is why Jackson could possibly be included in a trade just so Denver can stay below the major tax lines.
Of course, the Nuggets would like to keep their roster as is. However, that is not always financially feasible, leading to speculation that Jackson may not be staying in Denver after opting into his contract.
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