Three years ago, the Denver Nuggets looked built to contend for championships for the rest of the decade. Today, that same core suddenly finds itself facing questions few expected to ask this soon. After another disappointing postseason, one offseason decision now has the potential to reshape the franchise’s future.

According to HoopsHype insider Michael Scotto, the Nuggets have considered a “major roster shakeup” and are willing to listen to trade offers for every player on the roster except Nikola Jokic. The report marks the clearest indication yet that Denver is prepared to explore significant changes after falling short in three consecutive postseasons following its 2023 championship.

Scotto’s report also puts longtime running mate Jamal Murray’s future under the spotlight. Murray and Jokic have spent a decade together after Denver drafted Murray in 2016, forming one of the NBA’s most successful duos and leading the franchise to its first championship in 2023. While Murray is not actively being shopped, the fact that Denver is reportedly willing to listen signals just how dramatically its offseason approach has changed.

The shift comes after another frustrating playoff exit. Denver has now fallen short of the Western Conference Finals in each of the three seasons since winning the title, prompting Jokic himself to admit after this year’s elimination, “We just lost in the first round… I think we are far away.” That assessment only adds to the urgency surrounding Denver’s offseason plans.

One player Denver could target if it reshapes the roster is Cam Johnson. The veteran forward has drawn interest from several teams, including the Los Angeles Lakers, Boston Celtics and Orlando Magic, thanks to his floor spacing and two-way versatility. Johnson is entering the final year of his contract worth $23.06 million, making him one of the more attractive names available this offseason.

Aaron Gordon’s future is also worth monitoring. Gordon is under contract through the 2029-30 season after signing a four-year extension, but Scotto reported that teams such as the Portland Trail Blazers have shown interest. Injuries limited Gordon to just 36 games last season, though he still averaged 16.2 points, 5.8 rebounds and 2.7 assists while remaining one of Denver’s most important two-way players.

While Denver appears open to discussing veteran pieces, the organization has identified younger players it hopes to keep. Peyton Watson is expected to remain a priority after averaging a career-best 14.6 points last season, while Spencer Jones is also projected to receive a qualifying offer as Denver looks to retain cost-controlled talent amid its financial limitations.

Tim Hardaway Jr.’s situation is less certain. After shooting a career-best 40.7% from three-point range and finishing third in Sixth Man of the Year voting, the veteran guard could attract interest elsewhere. Denver may need him to accept a smaller contract if both sides hope to continue the partnership.

Denver’s financial outlook helps explain why these conversations are happening. The Nuggets are projected to sit above the luxury tax and close to the second apron, restrictions that severely limit roster flexibility by reducing trade options, eliminating key free-agent spending tools and increasing tax penalties. With little room to improve around Jokic, moving established veterans may be one of the few realistic paths available.

Any decision Denver makes this summer ultimately revolves around Jokic. While the front office explores ways to reshape the roster, the three-time MVP also has an important decision looming regarding his next contract.

Why Denver Isn’t Worried About Jokic’s Extension

Jokic is eligible to sign an extension worth roughly $280 million this offseason, but league expectation is that he will wait before making a decision. Waiting could position the Serbian star for an even more lucrative deal under the NBA’s collective bargaining agreement, making patience the financially stronger option rather than an indication of uncertainty about his future.

More importantly for Denver, there is little concern that waiting signals a potential departure. Jokic has repeatedly expressed his commitment to the franchise, saying in March that he “really found peace” in Denver and adding after the season that he still wants to be “a Nugget forever.” Multiple league insiders have similarly indicated that the relationship between both sides remains strong despite the expected delay in extension talks.

For now, Denver’s priority is clear. The Nuggets appear willing to reconsider almost every part of their championship roster in an effort to maximize Jokic’s remaining prime years. Whether that results in blockbuster trades or smaller roster tweaks, one message has already emerged from Scotto’s report: everyone may be available, but the franchise’s future still begins and ends with Nikola Jokic.