As expected, the NBA trade deadline came and went with the Denver Nuggets remaining largely inactive. Given the circumstances this season, this approach made perfect sense. Despite a campaign ravaged by injuries—including a month-long absence from their usual ironman Nikola Jokic—the Nuggets have navigated the regular season surprisingly well, with several players stepping up when called upon. They remain near the top of the Western Conference and look like one of the few teams capable of dethroning the defending champion Thunder.
In that context, standing pat was totally understandable. The small trade they did execute made sense. But more importantly, the rest of the NBA didn’t make any earth-shattering moves either.
How the Denver Nuggets Benefitted From the Trade Deadline
With the Giannis Antetokounmpo situation looming and his departure from Milwaukee appearing inevitable, one blockbuster move could have dramatically shifted the NBA’s power dynamic and made Denver’s path to another title significantly harder. Instead, the league’s balance remained largely intact. Not only does this mean another potential superteam wasn’t established to block the Nuggets’ championship hopes, but it may have quietly opened a future window for Denver to insert themselves into the Giannis sweepstakes.
A Small Move That Made Perfect Sense
Denver’s lone transaction—a deal with Brooklyn that sent out Hunter Tyson and a 2032 second-round pick in exchange for a 2026 second-rounder—was subtle but intelligent.
First and foremost, it moved the Nuggets below the luxury tax. With a Peyton Watson extension on the horizon and an already expensive core, avoiding the tax this season without materially hurting the roster is just a financially smart thing to do.
Amid all the unexpected contributors who rose to the occasion during Denver’s injury crisis, Tyson’s failure to do so was noticeable. Now that key rotation players are healthy again, it’s even harder to imagine him carving out a meaningful role.
That nearer second-round pick also aligns better with Denver’s competitive timeline. A pick that can be used during the Jokic era is far more valuable than one that lands years down the road, when the franchise could look very different.
Finally, the open roster spot allows the Nuggets to convert Spencer Jones from a two-way deal into a standard contract, making him eligible for the postseason. Even if his role diminishes once the roster is fully healthy, he has earned that opportunity with his play.
Jan 20, 2026; Denver, Colorado, USA; Los Angeles Lakers forward LeBron James (23) controls the ball as Denver Nuggets forward Spencer Jones (21) guards in the second quarter at Ball Arena. Mandatory Credit: Isaiah J. Downing-Imagn Images
The Real Win: The Status Quo Remains Unchanged
As solid as Denver’s minor move was, the true victory came from league-wide inaction.
The nightmare scenario would have been Giannis landing with an already stacked Western Conference contender. A move to the Lakers, Spurs, or—God forbid—the Thunder would have significantly diminished Denver’s already challenging championship odds. A trade to the Knicks would have created a far more daunting potential Finals opponent. Any of these outcomes would have pushed the Nuggets into underdog territory.
Instead, no such seismic deal materialized. While there were plenty of transactions, none fundamentally altered the league’s balance of power. For the Nuggets, the road remains the same: the Oklahoma City Thunder are still the primary obstacle, and beating them remains the clearest path to a second championship.
The Last Word
In a perfect world—especially for the author of this piece—Denver might have found a way to bring in someone like Keon Ellis. But given the price he ultimately commanded, that would likely have required sacrificing real rotation players, which simply wasn’t worth it.
Realistically, this trade deadline could not have gone much better for the Nuggets. They protected their depth, avoided the tax, and watched the rest of the league fail to land a franchise-altering superstar.
And with the Giannis situation still unresolved?
Maybe—just maybe—the Nuggets have positioned themselves to be players in that conversation after all during the offseason.
© Isaiah J. Downing-Imagn Images