Kentavious Caldwell-Pope Rejected Nuggets Return in Free Agency

A year ago, the Denver Nuggets were on top of the world. Fresh off winning the NBA championship led by Nikola Jokic and Jamal Murray, the Nuggets appeared poised to repeat in 2024. But Denver saw its season end in the second round of the playoffs, and then Kentavious Caldwell-Pope, a key player in the team’s championship run, walked away in free agency.

Caldwell-Pope, while arguably the Nuggets’ least important starting player, has arguably been the team’s best perimeter defender since arriving in Denver in 2022. A prototypical 3-and-D guard who fit well alongside the more offensive-minded Murray and Jokic, it was assumed that Caldwell-Pope would attract interest from teams around the league as an unrestricted free agent. Unfortunately, that interest — or rather, the price — proved too much for the Nuggets, as the team reportedly offered KCP a contract before he signed with the Orlando Magic.

In his latest ESPN article, Zach Lowe examined which team in the Western Conference has the best chance of reaching the NBA Finals.

“For some, the conversation then goes all the way back to a calendar year: Why isn’t it Denver again? As long as the best player in the world is healthy, be careful about underestimating the Nuggets,” Lowe wrote. “They’ve been labeled offseason losers after Kentavious Caldwell-Pope signed a three-year, $66 million contract with the Orlando Magic.

“Denver made Caldwell-Pope an offer, but there was a significant gap in his annual salary, sources said. Denver could have tried to compensate with a longer deal that averaged slightly above Caldwell-Pope’s $15 million player option number — say a five-year, $90 million contract — but the Magic’s offer might have made the conversation redundant.”

Kentavious Caldwell-Pope Magic contract

Kentavious Caldwell-Pope has earned over $100 million in salary during his NBA career, but at 31 years old and with defense as his main asset, this offseason may be KCP’s last chance to sign a big, multi-year contract.

While the Denver Nuggets reportedly offered a “pretty similar” deal to the one he ultimately signed with the Orlando Magic, there’s no confirmation that he would have earned as much money or had the flexibility that the Magic offered. By signing in Orlando, Caldwell-Pope is guaranteed $66 million over three years, and if he chooses, he can opt out of his final season and become an unrestricted free agent in 2026.

Caldwell-Pope’s annual salary is highest this coming season, when he’ll earn $22.8 million, the highest salary of KCP’s career at $5 million. KCP’s cap hit is set at $21.62 million for each of the next two seasons after that.

After being traded to the Nuggets from the Washington Wizards two years ago, Caldwell-Pope signed a two-year, $30.15 million extension with Denver. He had a $15.4 million player option that he could have exercised this season, but he took a chance on himself — something that didn’t work out so well in negotiations with the Detroit Pistons in 2017 — and this time it paid off in the form of a $66 million deal.

The Nuggets hope to replace Caldwell-Pope’s production with players like Christian Braun, Peyton Watson and Russell Westbrook, though Westbrook’s signing has not yet been officially announced.