Reggie Jackson picks up team option, remains with Denver Nuggets for 2024-25

According to Adrian Wojnarowski of ESPN, guard Reggie Jackson is picking up his $5.25 million player option to remain with the Denver Nuggets for the 2024-25 season.

The Nuggets initially acquired Jackson on the buyout market during the 2022-23 season when Jackson struggled to fit in next to Bruce Brown and Denver’s preexisting bench unit. After Brown’s departure, the Nuggets signed Jackson using the Taxpayer Mid-Level Exception during the 2023 offseason to be Denver’s primary backup point guard. The Colorado Springs native filled that role well during the regular season but couldn’t fill a similar role in the playoffs.

The Nuggets have limited financial flexibility this offseason, and with the impending free agency of Kentavious Caldwell-Pope (who has yet to make an official decision on his $15.4 million player option) the team may be forced to get creative with their transactions. With the second tax apron looming, the Nuggets are limited to minimum contract signings unless they decide to make trades. They can only trade one player at a time without aggregating salaries unless Caldwell-Pope walks away and they duck the second apron.

Jackson’s decision to opt in officially puts the Nuggets over the projected $171.3 luxury tax line ($173.1 million committed to 11 players) without accounting for Caldwell-Pope’s option. Unless the Nuggets are to change their starting lineup considerably, they will remain deep in the luxury tax no matter what. The Nuggets lose access to the Non-Taxpayer Mid-Level Exception with this level of salary on the books.

Jackson filled in nicely for Murray in the starting lineup during his absences, but there are questions about is ability to elevate Denver’s second unit. He might still be on the move for the Nuggets, but for now, Jackson’s a part of the picture for the 2024-25 season and in line to reprise his role as Denver’s backup point guard.