Nuggets choose tax savings over winning with KCP departure

Denver's starting shooting guard left to sign a three-year contract with the Orlando Magic, the second straight year the Nuggets have lost a key wing player. Caldwell-Pope got $66M for three years, a deal that Denver chose not to match so it could stay under the second luxury tax apron next season.

That's a marked contrast to what the Boston Celtics have done since winning their own championship. They opened the league year by signing Derrick White to a four-year, nine-figure extension, then handed Jayson Tatum the most expensive contract in NBA history. They'll certainly be limited by the new CBA rules, but the Celtics aren't afraid to pay the luxury tax while their stars are in their primes.

Despite being owned by Stan Kroenke, the world's 115th-richest man with a net worth of over $16B, the team isn't willing to pay the added tax penalties of going over the second apron. The team claims they're prepared to move Christian Braun into KCP's starting spot, but that leaves a Braun-sized hole on the bench. Their rumored move to add Russell Westbrook really doesn't replace what Caldwell-Pope did well.

Now Denver has lost Caldwell-Pope, who played the third-most minutes on the team last season, as well as their No. 6 guy in minutes, Reggie Jackson, traded to Charlotte in a money-saving move, without fresh replacements in sight.

When Bruce Brown became a free agent last summer, cap rules limited Denver to offering him a deal starting at $7.8M. He eventually signed for $45M over two years. But the Nuggets could have matched or exceeded any deal for Caldwell-Pope, they simply chose not to. When an NBA team has a player who has won three of the last four MVP trophies, that's not the time to get cheap.

The Nuggets championship window got a lot narrower this week. Unless there's a complicated move still on the way, it looks like Kroenke & Co. are picking money over rings.